Thomas J. Herzfeld Advisors Inc. Cuts Holdings in Sound Point Meridian Capital, Inc. (NYSE:SPMC)

Thomas J. Herzfeld Advisors Inc. lessened its stake in shares of Sound Point Meridian Capital, Inc. (NYSE:SPMC) by 20.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 334,544 shares of the company’s stock after selling 87,155 shares during the period. Sound Point Meridian Capital makes up approximately 2.2% of Thomas J. Herzfeld Advisors Inc.’s holdings, making the stock its 9th largest holding. Thomas J. Herzfeld Advisors Inc. owned approximately 1.65% of Sound Point Meridian Capital worth $6,992,000 at the end of the most recent reporting period.

Separately, Oppenheimer & Co. Inc. increased its position in Sound Point Meridian Capital by 15.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 15,920 shares of the company’s stock valued at $333,000 after acquiring an additional 2,145 shares during the last quarter.

Sound Point Meridian Capital Trading Up 1.0 %

Shares of NYSE SPMC opened at $19.91 on Tuesday. Sound Point Meridian Capital, Inc. has a fifty-two week low of $18.20 and a fifty-two week high of $22.30. The business’s 50 day moving average price is $20.83 and its 200-day moving average price is $20.35.

Sound Point Meridian Capital (NYSE:SPMC) last released its earnings results on Wednesday, February 12th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.11.

Sound Point Meridian Capital Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $3.00 dividend on an annualized basis and a yield of 15.07%.

Wall Street Analysts Forecast Growth

Separately, B. Riley upgraded shares of Sound Point Meridian Capital to a “strong-buy” rating in a report on Tuesday, January 7th.

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.