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

B.Riley Securit downgraded shares of Sound Point Meridian Capital (NYSE:SPMC) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

SPMC has been the subject of a number of other research reports. Oppenheimer set a $20.00 target price on shares of Sound Point Meridian Capital in a research report on Monday, December 1st. Zacks Research raised shares of 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 target on Sound Point Meridian Capital in a report on Wednesday. iA Financial set a $18.50 target price on shares of Sound Point Meridian Capital in a research note on Thursday, November 13th. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of Sound Point Meridian Capital in a research report on Wednesday. One investment analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Sound Point Meridian Capital currently has a consensus rating of “Hold” and an average price target of $16.42.

Sound Point Meridian Capital Trading Up 2.7%

Shares of SPMC stock traded up $0.31 during trading hours on Wednesday, hitting $11.81. 8,869 shares of the company were exchanged, compared to its average volume of 27,189. The business has a 50 day moving average of $13.83 and a two-hundred day moving average of $15.94. The company has a market capitalization of $242.07 million, a PE ratio of 59.48 and a beta of 0.32. Sound Point Meridian Capital has a 52 week low of $11.45 and a 52 week high of $22.30.

Sound Point Meridian Capital (NYSE:SPMC) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.09). The company had revenue of $17.95 million during the quarter, compared to analysts’ expectations of $20.45 million.

Sound Point Meridian Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, June 15th. This represents a c) annualized dividend and a yield of 20.3%. Sound Point Meridian Capital’s dividend payout ratio is 1,500.00%.

Insiders Place Their Bets

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

Institutional Trading of Sound Point Meridian Capital

Several institutional investors and hedge funds have recently modified their holdings of SPMC. Citadel Advisors LLC acquired a new stake in shares of Sound Point Meridian Capital during the third quarter valued at $267,000. Everest Management Corp. grew its position in shares of Sound Point Meridian Capital by 5.6% in the fourth 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 during the period. Marshall Wace LLP lifted its position in Sound Point Meridian Capital by 35.4% during 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 period. Finally, Kim LLC purchased a new stake in Sound Point Meridian Capital in the 2nd quarter valued at about $192,821,000.

Trending Headlines about Sound Point Meridian Capital

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

• Positive Sentiment: Declared monthly common and preferred distributions of $0.20 per share (annualized yield ~20.8%), giving income-oriented investors a clear cash return profile that can support the stock floor. Sound Point Meridian Declares Q1 2027 Monthly Distributions
• Neutral Sentiment: Earnings call transcript and highlights published — management commentary will be parsed by investors for portfolio performance, reinvestment opportunities and outlook; these posts provide detail but so far haven’t offset the negative reaction to the quarter. Q3 2026 earnings call transcript
• Neutral Sentiment: Company press release summarizing Q3 fiscal results and declared distributions — useful for details on portfolio returns and distribution timing but does not change the headline misses. Sound Point Meridian Capital Announces First Fiscal Quarter 2027 Common Distributions and Preferred Distributions and Results
• Negative Sentiment: Q3 results missed expectations: EPS $0.44 vs. consensus ~ $0.53–$0.55 and revenue $17.95M vs. ~$20.45M; EPS also declined from $0.62 a year ago — a clear fundamental driver of the selloff. SPMC Misses Q3 Earnings and Revenue Estimates
• Negative Sentiment: B. Riley downgraded the stock (from strong-buy/positive stance to hold/neutral) and cut the price target from $16 to $12 — the lower target and rating reduce buy-side conviction near term. B. Riley rating/target note

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.