SPMC
Sound Point Meridian Capital, Inc.SPMC
SPMC
0
Funds holding %
of 6,812 funds
–
Analysts bullish %
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
300% more first-time investments, than exits
New positions opened: 4 | Existing positions closed: 1
38% more capital invested
Capital invested by funds: $24.2M [Q2] → $33.5M (+$9.22M) [Q3]
33% more funds holding
Funds holding: 9 [Q2] → 12 (+3) [Q3]
0% more funds holding in top 10
Funds holding in top 10: 1 [Q2] → 1 (+0) [Q3]
0% more repeat investments, than reductions
Existing positions increased: 3 | Existing positions reduced: 3
21.71% less ownership
Funds ownership: 30.17% [Q2] → 8.46% (-21.71%) [Q3]
Research analyst outlook
1 Wall Street Analyst provided 1 year price targets over the past 3 months
Low target
$23
8%
upside
Avg. target
$23
8%
upside
High target
$23
8%
upside
1 analyst rating
1 positive
100%
0 neutral
0%
0 negative
0%
B. Riley Securities Matt Howlett 29% 1-year accuracy 5 / 17 met price target | 8%upside $23 | Buy Initiated | 9 Oct 2024 |
Financial journalist opinion
Positive
Seeking Alpha
2 weeks ago
SPMC: New CLO Equity CEF Raises Monthly Dividend Again, Now Yields 13%
Sound Point Meridian Capital Inc., a new closed-end fund investing in CLO Equity, is rated a Buy due to strong performance, high-yield dividends, and solid backing from reputable institutions. The CLO Equity market has historically delivered over 12% annual returns, with positive outlooks for 2025 as interest rates fall and refinancing opportunities increase. SPMC's monthly dividend has increased to $0.24 per share, offering a competitive annual yield of about 13%, supported by a diversified portfolio of 70+ CLOs.
Neutral
Seeking Alpha
1 month ago
Preferreds Weekly Review: Mortgage REITs See Some Redemptions
We take a look at the action in preferreds and baby bonds through the second week of November and highlight some of the key themes we are watching. Preferred stocks had a strong week with a 2% total return, supported by a Treasury rally and narrowing credit spreads. Invesco Mortgage Capital is redeeming its floating-rate preferred IVR.PR.B, which will raise equity coverage.
Positive
Seeking Alpha
1 month ago
CEF Weekly Review: Few Opportunities This Tax-Loss Season
We review the CEF market valuation and performance through the second week of November and highlight recent market action. CEFs had a strong week, with MLPs and Equity-linked sectors leading. Tax-loss season is approaching, but few income sectors are expected to be pressured due to strong market performance this year.
Neutral
Business Wire
1 month ago
Sound Point Meridian Capital, Inc. Announces Results for the Second Fiscal Quarter Ended September 30, 2024
NEW YORK--(BUSINESS WIRE)-- #CLOs--Sound Point Meridian Capital, Inc. (NYSE: SPMC, SPMA), a closed-end management investment company that has registered as an investment company under the Investment Company Act of 1940, as amended (the “Company”), today announced results for the second fiscal quarter ended September 30, 2024. SECOND FISCAL QUARTER ENDED SEPTEMBER 30, 2024 RESULTS Net asset value per share of common stock was $19.59 as of September 30, 2024. Net investment income was $17.5 million, or $.
Positive
Seeking Alpha
1 month ago
SPMA: New CEF Preferred Equity, 8% Yield
SPMA represents the ticker for the new Series A preferred shares from Sound Point Meridian Capital. SPMA began trading on November 8, 2024, below the $25 par value, largely due to the underwriting process. Investment banks, having committed to purchasing these securities from SPMC at a discount, are motivated to sell them quickly, creating potential buying opportunities at attractive prices during the initial days.
Neutral
Business Wire
1 month ago
Sound Point Meridian Capital, Inc. Announces 9.1% Increase in First Calendar Quarter 2025 Common Distributions and Declares Preferred Distributions
NEW YORK--(BUSINESS WIRE)-- #CLOs--Sound Point Meridian Capital, Inc. (NYSE: SPMC, SPMA), a closed-end management investment company that has registered as an investment company under the Investment Company Act of 1940, as amended (the “Company”), today is pleased to announce the declaration of distributions on shares of the Company's common and preferred stock for the first calendar quarter of 2025 (fiscal fourth quarter 2025). The Company is declaring a monthly distribution of $0.24 per share on its.
Positive
Seeking Alpha
1 month ago
SPMC: Not The Right Time To Leverage Up, Preferred Shares Look Better
SPMC predominantly invests in CLO equity tranches, with about 95% of its portfolio consisting of these high-yield but high-risk instruments. The remaining investments include warehouse debt and CLO debt. SPMC has not utilized leverage as of its Q2 2024 financials but has secured a revolving credit facility of $100 million, extendable up to $125 million, at competitive interest rates. SPMC announced a public offering of 8.00% Series A Preferred Shares, resulting in $48.2 million in proceeds. These shares are rated ‘BBB' by Egan-Jones and are expected to trade.
Neutral
Business Wire
1 month ago
Sound Point Meridian Capital Prices Offering of Preferred Shares
NEW YORK--(BUSINESS WIRE)-- #CLO--Sound Point Meridian Capital, Inc. (the “Company”) (NYSE: SPMC) today announced that it has priced an underwritten public offering of 2,000,000 shares of its 8.00% Series A Preferred Shares due 2029 (the “Preferred Shares”) at a public offering price of $25 per share, which will result in net proceeds to the Company of approximately $48.2 million after payment of underwriting discounts and commissions and estimated offering expenses payable by the Company. The Preferr.
Neutral
Business Wire
1 month ago
Sound Point Meridian Capital Announces Offering of Series A Preferred Shares
NEW YORK--(BUSINESS WIRE)-- #CLO--Sound Point Meridian Capital, Inc. (the “Company”) (NYSE: SPMC), an externally managed closed-end fund focused on primarily investing in equity and junior debt tranches of collateralized loan obligations, has commenced an underwritten public offering of its Series A Preferred Shares. Certain financial and other terms of the Series A Preferred Shares are to be determined by negotiations between the Company and the underwriters. The Series A Preferred Shares are rated ‘.
Neutral
Business Wire
1 month ago
Sound Point Meridian Capital, Inc. Schedules Second Fiscal Quarter Ended September 30, 2024 Earnings Release and Conference Call
NEW YORK--(BUSINESS WIRE)-- #CLO--Sound Point Meridian Capital, Inc. (NYSE: SPMC), a closed-end management investment company that has registered as an investment company under the Investment Company Act of 1940, as amended (the “Company”), today announced it plans to release its financial results for its second fiscal quarter ended September 30, 2024 prior to the opening of the stock market on Wednesday, November 13, 2024, and discuss these results in a conference call at 11:00 a.m. ET. All intereste.
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