Insider Selling: Meridian (NASDAQ:MRDN) CEO Sells $126,472.52 in Stock

Meridian Holdings Inc. (NASDAQ:MRDN) CEO Anthony Brian Goodman sold 12,196 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $10.37, for a total value of $126,472.52. Following the sale, the chief executive officer directly owned 479,463 shares of the company’s stock, valued at $4,972,031.31. The trade was a 2.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 stock was 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 stock was 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 stock was sold at an average price of $6.92, for a total value of $26,821.92.
• On Wednesday, April 15th, Anthony Brian Goodman sold 6,900 shares of Meridian stock. The stock was sold at an average price of $6.93, for a total value of $47,817.00.
• On Tuesday, April 14th, Anthony Brian Goodman sold 100 shares of Meridian stock. The stock was sold at an average price of $6.90, for a total value of $690.00.
• On Monday, April 13th, Anthony Brian Goodman sold 713 shares of Meridian stock. The stock was sold at an average price of $6.90, for a total value of $4,919.70.

Meridian Stock Up 5.1%

Shares of MRDN stock opened at $11.63 on Friday. Meridian Holdings Inc. has a 12 month low of $5.80 and a 12 month high of $23.76. The firm has a market capitalization of $147.35 million, a price-to-earnings ratio of -1.60 and a beta of 0.61. The stock’s 50 day simple moving average is $8.75. 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 quarterly earnings results on Tuesday, April 28th. The company reported $0.18 EPS for the quarter. Meridian had a negative return on equity of 99.65% and a negative net margin of 45.94%.The company had revenue of $50.10 million during the quarter. As a group, equities analysts predict that Meridian Holdings Inc. will post 0.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Marex Group plc acquired a new position in shares of Meridian in the second quarter valued at $26,000. Virtu Financial LLC acquired a new position in Meridian during the third quarter worth $33,000. Continuum Advisory LLC raised its stake 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 in the last quarter. Marshall Wace LLP acquired a new position in Meridian during the second quarter worth $57,000. Finally, Deutsche Bank AG raised its stake in Meridian by 224.4% during the fourth quarter. Deutsche Bank AG now owns 94,695 shares of the company’s stock worth $76,000 after acquiring an additional 65,501 shares in the last quarter. 2.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.