Insider Selling: Meridian (NASDAQ:MRDN) CEO Sells 9,000 Shares of Stock

Meridian Holdings Inc. (NASDAQ:MRDN) CEO Anthony Brian Goodman sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $13.02, for a total transaction of $117,180.00. Following the completion of the sale, the chief executive officer owned 463,463 shares of the company’s stock, valued at approximately $6,034,288.26. This trade represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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 transaction of $126,800.00.
• 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 shares were 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 stock was sold at an average price of $6.34, for a total transaction 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 transaction 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 transaction 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 transaction 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 transaction of $26,821.92.

Meridian Trading Up 11.8%

Shares of NASDAQ MRDN traded up $1.51 during midday trading on Friday, reaching $14.32. The company had a trading volume of 75,404 shares, compared to its average volume of 37,025. The company’s 50-day moving average is $9.55. The company has a market cap of $181.42 million, a PE ratio of -1.97 and a beta of 0.67. 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.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Sandhill Capital Partners LLC purchased a new position in shares of Meridian during the third quarter worth $195,000. Topline Capital Management LLC raised its holdings in shares of Meridian by 1,072.4% during 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. Continuum Advisory LLC raised its holdings in shares of 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 purchasing an additional 45,000 shares during the last quarter. Squarepoint Ops LLC raised its holdings in shares of Meridian by 115.2% during 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. Finally, Millennium Management LLC raised its holdings in shares of Meridian by 68.8% during the third quarter. Millennium Management LLC now owns 131,812 shares of the company’s stock worth $149,000 after purchasing an additional 53,703 shares during the last quarter. Hedge funds and other institutional investors own 2.74% of the company’s stock.

Analyst Ratings Changes

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