Sound Point Meridian Capital (NYSE:SPMC) Rating Lowered to Hold at B.Riley Securit

Sound Point Meridian Capital (NYSE:SPMC) was downgraded by research analysts at B.Riley Securit from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other analysts have also issued research reports about the company. Oppenheimer set a $20.00 target price on Sound Point Meridian Capital in a report on Monday, December 1st. Zacks Research raised Sound Point Meridian Capital from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. Compass Point set a $12.00 price objective on Sound Point Meridian Capital in a research note on Wednesday. B. Riley Financial downgraded Sound Point Meridian Capital from a “buy” rating to a “neutral” rating in a research report on Wednesday. Finally, iA Financial set a $18.50 target price on shares of Sound Point Meridian Capital in a report on Thursday, November 13th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $17.30.

Sound Point Meridian Capital Stock Performance

NYSE SPMC opened at $11.54 on Wednesday. Sound Point Meridian Capital has a one year low of $11.45 and a one year high of $22.30. The company has a market capitalization of $236.54 million, a price-to-earnings ratio of 57.70 and a beta of 0.32. The company’s 50-day simple moving average is $13.83 and its two-hundred day simple moving average is $15.94.

Sound Point Meridian Capital (NYSE:SPMC) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.09).

Insider Buying and Selling at Sound Point Meridian Capital

In other Sound Point Meridian Capital news, Director Matthew E. Forstenhausler purchased 4,118 shares of the firm’s stock in a transaction on Thursday, December 18th. The stock was bought at an average cost of $13.60 per share, for a total transaction of $56,004.80. Following the completion of the purchase, the director owned 6,318 shares in the company, valued at $85,924.80. This represents a 187.18% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Guaranty Ltd Assured sold 4,562 shares of the firm’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $14.31, for a total value of $65,282.22. Following the completion of the sale, the insider directly owned 5,269,690 shares of the company’s stock, valued at approximately $75,409,263.90. This represents a 0.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have purchased 8,480 shares of company stock worth $115,727 and have sold 10,803 shares worth $156,663. 0.89% of the stock is owned by insiders.

Hedge Funds Weigh In On Sound Point Meridian Capital

Hedge funds and other institutional investors have recently modified their holdings of the stock. Citadel Advisors LLC acquired a new stake in Sound Point Meridian Capital in the 3rd quarter worth approximately $267,000. Everest Management Corp. increased its stake in Sound Point Meridian Capital by 5.6% during the 4th quarter. Everest Management Corp. now owns 79,798 shares of the company’s stock valued at $1,097,000 after purchasing an additional 4,243 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Sound Point Meridian Capital by 35.4% in the second quarter. Marshall Wace LLP now owns 77,152 shares of the company’s stock worth $1,379,000 after buying an additional 20,163 shares during the last quarter. Finally, Kim LLC acquired a new stake in shares of Sound Point Meridian Capital during the second quarter worth $192,821,000.

Key Headlines Impacting Sound Point Meridian Capital

Here are the key news stories impacting Sound Point Meridian Capital this week:

• Positive Sentiment: Declared monthly common distributions of $0.20 per share (annualized yield ~20.8%) with scheduled payments for Apr 30, May 29 and Jun 30 and corresponding record/ex-dividend dates in mid-April, mid‑May and mid‑June — supports income for yield-focused investors. Read More. Read More..
• Neutral Sentiment: Company issued a formal release summarizing first fiscal quarter 2027 common and preferred distributions and reported quarter results; useful for review of payout mechanics and capital structure but no forward guidance disclosed in these releases. Read More..
• Negative Sentiment: Missed quarterly earnings: reported $0.44 EPS vs. analyst consensus of roughly $0.53–$0.55 and down from $0.62 a year ago — an earnings shortfall that directly pressured the share price. Read More. and company result summary Read More..

About Sound Point Meridian Capital

Sound Point Meridian Capital Inc is an externally managed, non-diversified closed-end management investment company. Its investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in third-party collateralized loan obligation equity and mezzanine tranches. Sound Point Meridian Capital Inc is based in NEW YORK.