Sound Point Meridian Capital (NYSE:SPMC) Stock Price Target Lowered at B. Riley Financial

Sound Point Meridian Capital (NYSE:SPMC) had its price objective cut by B. Riley Financial from $10.00 to $6.50 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. B. Riley Financial‘s target price suggests a potential upside of 5.13% from the company’s previous close.

Separately, Zacks Research upgraded shares of Sound Point Meridian Capital from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Sound Point Meridian Capital currently has a consensus rating of “Moderate Buy” and an average target price of $12.83.

Sound Point Meridian Capital Trading Down 1.1%

Shares of SPMC stock opened at $6.18 on Friday. Sound Point Meridian Capital has a 1-year low of $5.43 and a 1-year high of $16.67. The stock has a market cap of $126.75 million, a price-to-earnings ratio of -1.09 and a beta of 1.39. The stock has a 50-day moving average of $7.58 and a 200-day moving average of $9.70.

Sound Point Meridian Capital (NYSE:SPMC) last posted its quarterly earnings data on Thursday, November 12th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). The company had revenue of $12.82 million during the quarter, compared to the consensus estimate of $13.17 million. Sell-side analysts forecast that Sound Point Meridian Capital will post 1.11 earnings per share for the current year.

Institutional Trading of Sound Point Meridian Capital

Large investors have recently bought and sold shares of the business. Everest Private Wealth lifted its stake in shares of Sound Point Meridian Capital by 8.1% in the 3rd quarter. Everest Private Wealth now owns 108,612 shares of the company’s stock valued at $913,000 after purchasing an additional 8,175 shares during the period. Advisory Solutions Group LLC bought a new stake in shares of Sound Point Meridian Capital during the 2nd quarter valued at about $316,000. Finally, Allied Private Wealth LLC bought a new stake in shares of Sound Point Meridian Capital during the 2nd quarter valued at about $984,000.

Latest Sound Point Meridian Capital News

Here’s some of the latest news about SPMC:

• Positive Sentiment: SPMC declared monthly distributions of $0.13 per share for January, February, and March 2027—$0.39 across the quarter, or $1.56 annualized. The indicated yield was reported at about 24.9%, which may appeal to income-focused investors. The distributions are outlined alongside a fee waiver that runs through December 31, 2026. Article: Sound Point Meridian outlines monthly distributions
• Positive Sentiment: Zacks added SPMC to its Rank #1 (Strong Buy) lists for November 13, including its income and value selections. These rankings may boost investor interest, though they do not guarantee future performance. Article: New Strong Buy Stocks
• Negative Sentiment: SPMC’s second-quarter fiscal 2027 results fell short of expectations: earnings were $0.28 per share versus a $0.29 consensus, and revenue was $12.82 million versus $13.17 million expected. Earnings also declined from $0.54 per share a year earlier, a notable headwind for the stock. Article: SPMC Lags Q2 Earnings and Revenue Estimates

About Sound Point Meridian Capital

Sound Point Meridian Capital, Inc. is a publicly traded investment company focused on collateralized loan obligations (CLOs). It invests primarily in CLO equity and debt securities, which provide exposure to portfolios of corporate loans. Through these investments, the company participates in the financing of businesses whose loans are held in CLO portfolios. Its investment approach centers on selecting CLO securities rather than directly originating loans to companies. Sound Point Meridian Capital is externally managed by an affiliate of Sound Point Capital Management, a credit-focused investment manager.