Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price5.74 USD
Fair value13.14
Our investment reviews on this name
2026-09-13Read Distribution11.53-50.2% to today ✓Markup gives way to Distribution
2026-07-02Read Markup11.53-50.2% to today First review on file: Markup
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Sound Point Meridian Capital, Inc. holds its Distribution at $5.74. The statistical read favours the sellers, held for 6 days.
As held on the ledger · 2026-10-23
Phase
Distribution · caution
Quantitative state
The statistical read favours the sellers, held for 6 days
Price at the screen
$5.74
Valuation
2.82 trailing · 5.03 forward price to earnings
Values screen
FAIL
The Workings
Five Screens, Shown in Full
Does not pass. Business activity: conventional financial services
Test
Figure
Limit
What it means
Status
Business activity
Excluded
Core business clean
Its core business involves an activity the values screen does not clear.
Fail
Debt load
81.04%
Below 33%
Interest-bearing debt is 81.0% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.23%
Below 33%
Cash held in interest-bearing accounts and securities is 0.2% of assets, under the one-third limit.
Pass
Receivables
0.00%
Below 49%
Money owed to the company is 0.0% of assets, under the 49% limit.
Pass
Revenue purity
51.41%
Below 5%
51.4% of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Sound Point Meridian Capital, does not clear the screen at the business-activity stage. It operates in conventional financial services, which the screen treats as interest-based, so the financial ratios are not the deciding factor here.
Read as at 2026-10-27. It updates when the underlying figures move, and past reads are kept below.
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Today SPMC does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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Fair value range in USD, drawn from the 2026-10-23 screen. The gold marker is the market price at the same screen. A 84.0% margin of safety to the base estimate.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-23 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
SPMC trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-22Distribution$7.14-20.3%Entry 7
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 20.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 21%. Our forward projection puts the odds of a 10% gain over the next month near 14%. The street (3 analysts) rates it buy, with a mean price target of $10.
2026-10-02Distribution$8.96-22.3%Entry 6
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 22.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 21%. Our forward projection puts the odds of a 10% gain over the next month near 14%. The street (3 analysts) rates it buy, with a mean price target of $10. Since the last review it its composite score rose.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 21%. Our forward projection puts the odds of a 10% gain over the next month near 14%. The street (3 analysts) rates it none, with a mean price target of $10.
2026-08-13Markup$11.53+0.0%Entry 4
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 21%. Our forward projection puts the odds of a 10% gain over the next month near 14%. The street (3 analysts) rates it none, with a mean price target of $12.
2026-07-18Markup$11.53+0.0%Entry 3
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 21%. Our forward projection puts the odds of a 10% gain over the next month near 14%. The street (3 analysts) rates it none, with a mean price target of $12.
2026-07-03Markup$11.53+0.0%Entry 2
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns.
2026-07-02Markup$11.53Entry 1
Our analysis reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows negative risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
The Insider Ledger · Form 4 Filings, As Filed
Most recent filings · SPMC
Date
Insider
Title
Type
Shares
Value
2026-04-30
ASSURED GUARANTY LTD.
Beneficial Owner of more than 10% of a Class of Security
242,718
$2,451,456
2026-02-13
FORSTENHAUSLER MATTHEW E.
Director
2,000
$23,000
2026-02-13
KETCHUM STEPHEN
Chairman of the Board
1,000
$11,400
2026-01-29
ASSURED GUARANTY LTD.
Beneficial Owner of more than 10% of a Class of Security
237
$3,393
2026-01-27
ASSURED GUARANTY LTD.
Beneficial Owner of more than 10% of a Class of Security
4,867
$69,623
2026-01-14
ASSURED GUARANTY LTD.
Beneficial Owner of more than 10% of a Class of Security
5,597
$81,941
2025-12-19
FORSTENHAUSLER MATTHEW E.
Director
6,318
$86,045
2025-12-16
DESAI UJJAVAL
Chief Executive Officer
3,162
$43,052
2025-11-17
ASSURED GUARANTY LTD.
Beneficial Owner of more than 10% of a Class of Security
102
$1,673
2025-10-28
ASSURED GUARANTY LTD.
Beneficial Owner of more than 10% of a Class of Security