Stephen Ketchum Purchases 4,000 Shares of Sound Point Meridian Capital, Inc. (NYSE:SPMC) Stock

Sound Point Meridian Capital, Inc. (NYSE:SPMC) Chairman Stephen Ketchum bought 4,000 shares of Sound Point Meridian Capital stock in a transaction dated Thursday, November 21st. The stock was purchased at an average cost of $20.32 per share, with a total value of $81,280.00. Following the completion of the acquisition, the chairman now directly owns 23,326 shares in the company, valued at approximately $473,984.32. The trade was a 20.70 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Stephen Ketchum also recently made the following trade(s):

• On Tuesday, November 19th, Stephen Ketchum purchased 1,000 shares of Sound Point Meridian Capital stock. The stock was bought at an average cost of $20.32 per share, for a total transaction of $20,320.00.
• On Wednesday, August 28th, Stephen Ketchum bought 7,326 shares of Sound Point Meridian Capital stock. The shares were purchased at an average cost of $19.90 per share, with a total value of $145,787.40.

Sound Point Meridian Capital Stock Performance

Shares of NYSE:SPMC traded down $0.07 during mid-day trading on Thursday, reaching $20.38. 14,953 shares of the stock were exchanged, compared to its average volume of 19,747. The business’s 50 day moving average price is $19.62. Sound Point Meridian Capital, Inc. has a one year low of $18.20 and a one year high of $21.43.

Sound Point Meridian Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.24 dividend. This represents a $2.88 annualized dividend and a dividend yield of 14.13%. The ex-dividend date of this dividend is Friday, March 14th.

Wall Street Analyst Weigh In

Separately, B. Riley initiated coverage on shares of Sound Point Meridian Capital in a research report on Wednesday, October 9th. They set a “buy” rating and a $22.50 price objective on the stock.

Institutional Investors Weigh In On Sound Point Meridian Capital

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Frank Rimerman Advisors LLC purchased a new stake in Sound Point Meridian Capital in the second quarter worth approximately $200,000. Oppenheimer & Co. Inc. bought a new position in Sound Point Meridian Capital during the 3rd quarter valued at about $272,000. Choreo LLC bought a new stake in shares of Sound Point Meridian Capital during the 2nd quarter valued at about $827,000. Finally, Envestnet Asset Management Inc. purchased a new position in Sound Point Meridian Capital during the second quarter valued at approximately $2,860,000.

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.