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

Sound Point Meridian Capital, Inc. (NYSE:SPMC) Chairman Stephen Ketchum acquired 4,000 shares of the stock in a transaction on Thursday, November 21st. The shares were acquired at an average price of $20.32 per share, for a total transaction of $81,280.00. Following the acquisition, the chairman now owns 23,326 shares of the company’s stock, valued at approximately $473,984.32. The trade was a 20.70 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

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 shares were bought at an average price of $20.32 per share, with a total value 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, for a total transaction of $145,787.40.

Sound Point Meridian Capital Stock Up 0.7 %

Shares of SPMC stock opened at $20.53 on Friday. The business has a fifty day simple moving average of $19.62. Sound Point Meridian Capital, Inc. has a 52 week low of $18.20 and a 52 week high of $21.43.

Sound Point Meridian Capital Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.24 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 14.03%. The ex-dividend date is Friday, March 14th.

Analyst Ratings Changes

Separately, B. Riley started coverage on Sound Point Meridian Capital in a research note on Wednesday, October 9th. They issued a “buy” rating and a $22.50 target price on the stock.

Hedge Funds Weigh In On Sound Point Meridian Capital

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

Sound Point Meridian Capital Company Profile

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.