Insider Selling: Meridian (NASDAQ:MRDN) CEO Sells $91,280.00 in Stock

Meridian Holdings Inc. (NASDAQ:MRDN) CEO Anthony Brian Goodman sold 7,000 shares of Meridian stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $13.04, for a total transaction of $91,280.00. Following the sale, the chief executive officer owned 472,463 shares in the company, valued at $6,160,917.52. This represents a 1.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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 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 transaction of $117,180.00.
• 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 shares were 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 shares were 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.
• On Thursday, April 23rd, Anthony Brian Goodman sold 2,000 shares of Meridian stock. The shares were 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 shares were 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 shares were 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 shares were sold at an average price of $6.92, for a total transaction of $26,821.92.

Meridian Trading Down 0.1%

Shares of NASDAQ:MRDN opened at $14.32 on Monday. The company has a current ratio of 0.57, a quick ratio of 0.48 and a debt-to-equity ratio of 0.10. The stock has a fifty day moving average of $9.70. The company has a market capitalization of $181.42 million, a price-to-earnings ratio of -1.97 and a beta of 0.67. Meridian Holdings Inc. has a 12-month low of $5.80 and a 12-month high of $22.78.

Meridian (NASDAQ:MRDN) last issued 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%. As a group, equities research analysts forecast that Meridian Holdings Inc. will post 0.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MRDN has been the subject of a number of research analyst reports. Weiss Ratings initiated coverage on shares of Meridian in a research note on Tuesday, April 7th. They issued a “sell (e+)” rating for the company. Wall Street Zen upgraded shares of Meridian to a “strong-buy” rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Meridian has an average rating of “Sell” and an average target price of $21.60.

Hedge Funds Weigh In On Meridian

A number of hedge funds have recently added to or reduced their stakes in MRDN. Topline Capital Management LLC boosted its holdings in 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 period. Whetstone Capital Advisors LLC acquired a new position in Meridian in the fourth quarter worth $331,000. Citadel Advisors LLC boosted its holdings in 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 period. Sandhill Capital Partners LLC acquired a new position in Meridian in the third quarter worth $195,000. Finally, Squarepoint Ops LLC boosted its holdings in 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 period. Institutional investors and hedge funds own 2.74% of the company’s stock.

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.