Sound Point Meridian Capital Inc (SPMC) News & EventsSPMCNews & EventsSound Point Meridian Capital Inc

Company's Net Asset Value Per Share at $9.66

Net asset value per share of common stock was $9.88 as of June 30, 2026. Management's unaudited and estimated range of the net asset value per share of the Company's common stock as of July 31, 2026, was between $9.56 and $9.66.

Oppenheimer Downgrades Sound Point Meridian Capital to Perform, Removes $20 Price Target

As previously reported, Oppenheimer downgraded Sound Point Meridian Capital to Perform from Outperform and removed the firm's price target of $20. The firm says the negative impact of the borrower call option on earnings has been much higher than it had estimated, as evidenced by the company's 2.0% return on equity since IPO. Oppenheimer believes collateralized loan obligation equity is unable to price for the borrower call option in the CLO structure. Loans are non-callable for six months while the debt on the CLO is non-call for two years. If borrowers can refinance their loans in that year-and-a-half window, it would lower future excess cash flows. Once the two-year window opens, the CLO may be able to lower borrowing costs if credit spreads have narrowed, the firm adds.

Oppenheimer Downgrades Sound Point Meridian Capital to Perform from Outperform

Oppenheimer analyst Mitchel Penn downgraded Sound Point Meridian Capital to Perform from Outperform.