Insider Selling: Meridian (NASDAQ:MRDN) CEO Sells $75,515.00 in Stock

Meridian Holdings Inc. (NASDAQ:MRDN) CEO Anthony Brian Goodman sold 5,500 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $13.73, for a total value of $75,515.00. Following the sale, the chief executive officer owned 429,313 shares in the company, valued at $5,894,467.49. The trade was a 1.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Monday, June 22nd, Anthony Brian Goodman sold 3,650 shares of Meridian stock. The shares were sold at an average price of $13.76, for a total value of $50,224.00.
• On Thursday, June 18th, Anthony Brian Goodman sold 5,000 shares of Meridian stock. The stock was sold at an average price of $13.70, for a total value of $68,500.00.
• On Monday, June 15th, Anthony Brian Goodman sold 5,000 shares of Meridian stock. The stock was sold at an average price of $14.33, for a total value of $71,650.00.
• On Friday, June 12th, Anthony Brian Goodman sold 10,000 shares of Meridian stock. The shares were sold at an average price of $12.68, for a total value of $126,800.00.
• On Thursday, June 11th, Anthony Brian Goodman sold 9,000 shares of Meridian stock. The shares were 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 shares were sold at an average price of $13.04, for a total transaction 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 transaction 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 transaction 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 transaction of $64,100.00.
• On Friday, April 24th, Anthony Brian Goodman sold 10,000 shares of Meridian stock. The shares were sold at an average price of $6.34, for a total transaction of $63,400.00.

Meridian Price Performance

Shares of MRDN opened at $13.28 on Friday. The company has a market cap of $168.26 million, a P/E ratio of -1.83 and a beta of 0.67. The company has a 50-day moving average price of $11.02. Meridian Holdings Inc. has a one year low of $5.80 and a one year high of $22.78. The company has a current ratio of 0.57, a quick ratio of 0.48 and a debt-to-equity ratio of 0.10.

Meridian (NASDAQ:MRDN) last issued its earnings results on Tuesday, April 28th. The company reported $0.18 earnings per share (EPS) for the quarter. Meridian had a negative net margin of 45.94% and a negative return on equity of 99.65%. The company had revenue of $50.10 million for the quarter. Analysts expect that Meridian Holdings Inc. will post 0.33 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MRDN. Sandhill Capital Partners LLC acquired a new stake in shares of Meridian during the third quarter worth $195,000. 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 valued at $705,000 after acquiring an additional 570,694 shares in the last quarter. Continuum Advisory LLC increased its position in Meridian by 375.0% during the fourth quarter. Continuum Advisory LLC now owns 57,000 shares of the company’s stock worth $46,000 after acquiring an additional 45,000 shares during the period. Whetstone Capital Advisors LLC bought a new position in Meridian during the fourth quarter worth about $331,000. Finally, Marshall Wace LLP acquired a new stake in Meridian in the 2nd quarter worth about $57,000. 2.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Meridian Company Profile

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.