Insider Selling: Meridian (NASDAQ:MRDN) CEO Sells 10,000 Shares of Stock

Meridian Holdings Inc. (NASDAQ:MRDN) CEO Anthony Brian Goodman sold 10,000 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $12.68, for a total value of $126,800.00. Following the completion of the sale, the chief executive officer owned 453,463 shares in the company, valued at $5,749,910.84. This trade represents a 2.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Anthony Brian Goodman also recently made the following trade(s):

• On Thursday, June 11th, Anthony Brian Goodman sold 9,000 shares of Meridian stock. The stock was sold at an average price of $13.02, for a total value of $117,180.00.
• On Wednesday, June 10th, Anthony Brian Goodman sold 7,000 shares of Meridian stock. The stock was sold at an average price of $13.04, for a total value of $91,280.00.
• On Friday, May 22nd, Anthony Brian Goodman sold 12,196 shares of Meridian stock. The stock was sold at an average price of $10.37, for a total value of $126,472.52.
• On Monday, May 4th, Anthony Brian Goodman sold 10,000 shares of Meridian stock. The stock was sold at an average price of $12.75, for a total value of $127,500.00.
• On Monday, April 27th, Anthony Brian Goodman sold 10,000 shares of Meridian stock. The stock was sold at an average price of $6.41, for a total value of $64,100.00.
• On Friday, April 24th, Anthony Brian Goodman sold 10,000 shares of Meridian stock. The stock was sold at an average price of $6.34, for a total value of $63,400.00.
• On Thursday, April 23rd, Anthony Brian Goodman sold 2,000 shares of Meridian stock. The stock was sold at an average price of $6.30, for a total value of $12,600.00.
• On Wednesday, April 22nd, Anthony Brian Goodman sold 4,603 shares of Meridian stock. The shares were sold at an average price of $6.34, for a total value of $29,183.02.
• On Friday, April 17th, Anthony Brian Goodman sold 404 shares of Meridian stock. The shares were sold at an average price of $6.90, for a total value of $2,787.60.
• On Thursday, April 16th, Anthony Brian Goodman sold 3,876 shares of Meridian stock. The shares were sold at an average price of $6.92, for a total value of $26,821.92.

Meridian Price Performance

NASDAQ MRDN traded up $1.51 during trading hours on Friday, reaching $14.32. 75,404 shares of the stock traded hands, compared to its average volume of 37,025. The firm has a 50 day moving average price of $9.55. Meridian Holdings Inc. has a 1 year low of $5.80 and a 1 year high of $22.78. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.48 and a current ratio of 0.57. The firm has a market cap of $181.42 million, a P/E ratio of -1.97 and a beta of 0.67.

Meridian (NASDAQ:MRDN) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.18 earnings per share for the quarter. Meridian had a negative return on equity of 99.65% and a negative net margin of 45.94%.The business had revenue of $50.10 million for the quarter. On average, sell-side analysts forecast that Meridian Holdings Inc. will post 0.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MRDN shares. Weiss Ratings started coverage on Meridian in a research note on Tuesday, April 7th. They set a “sell (e+)” rating on the stock. Wall Street Zen raised Meridian to a “strong-buy” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell” and an average price target of $21.60.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Topline Capital Management LLC grew its stake in shares of Meridian by 1,072.4% in the third quarter. Topline Capital Management LLC now owns 623,909 shares of the company’s stock worth $705,000 after purchasing an additional 570,694 shares during the last quarter. Whetstone Capital Advisors LLC bought a new stake in shares of Meridian in the fourth quarter worth about $331,000. Citadel Advisors LLC grew its stake in shares of Meridian by 1,603.2% in the third quarter. Citadel Advisors LLC now owns 206,082 shares of the company’s stock worth $233,000 after purchasing an additional 193,982 shares during the last quarter. Sandhill Capital Partners LLC bought a new stake in shares of Meridian in the third quarter worth about $195,000. Finally, Squarepoint Ops LLC grew its stake in shares of Meridian by 115.2% in the third quarter. Squarepoint Ops LLC now owns 148,302 shares of the company’s stock worth $168,000 after purchasing an additional 79,382 shares during the last quarter. 2.74% of the stock is owned by institutional investors.

About Meridian

Meridian Holdings Inc is engaged in the online gaming and betting business, providing sports betting, online casino, and gaming operations across multiple jurisdictions in Europe, Africa, and Central and South America. The company has three reportable segments: MeridianBet Group, GMAG, and RKings & CFAC. The MeridianBet Group segment includes retail and online sports betting, casinos, and related gaming operations. The GMAG segment focuses on the resale of third-party gaming content, mainly serving customers in the Asia-Pacific region.