Insider Selling: Meridian (NASDAQ:MRDN) CEO Sells $71,650.00 in Stock

Meridian Holdings Inc. (NASDAQ:MRDN) CEO Anthony Brian Goodman sold 5,000 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $14.33, for a total value of $71,650.00. Following the completion of the sale, the chief executive officer directly owned 448,463 shares of the company’s stock, valued at approximately $6,426,474.79. This trade represents a 1.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Tuesday, June 23rd, Anthony Brian Goodman sold 5,500 shares of Meridian stock. The shares were sold at an average price of $13.73, for a total value of $75,515.00.
• On Monday, June 22nd, Anthony Brian Goodman sold 3,650 shares of Meridian stock. The stock was 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 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 stock was 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 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.

Meridian Stock Up 8.6%

Shares of Meridian stock opened at $13.28 on Friday. The stock has a fifty day moving average price of $11.02. Meridian Holdings Inc. has a 12-month low of $5.80 and a 12-month high of $22.78. The company has a market cap of $168.26 million, a price-to-earnings ratio of -1.83 and a beta of 0.67. 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 issued its quarterly earnings data on Tuesday, April 28th. The company reported $0.18 EPS for the quarter. The firm 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, sell-side analysts expect that Meridian Holdings Inc. will post 0.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MRDN. Marex Group plc purchased a new position in shares of Meridian in the 2nd quarter valued at approximately $26,000. Virtu Financial LLC purchased a new stake in Meridian in the third quarter worth $33,000. Marshall Wace LLP bought a new position in Meridian in the second quarter worth $57,000. Topline Capital Management LLC bought a new position in Meridian in the second quarter worth $90,000. Finally, Continuum Advisory LLC lifted its position in Meridian by 375.0% during the fourth quarter. Continuum Advisory LLC now owns 57,000 shares of the company’s stock valued at $46,000 after buying an additional 45,000 shares during the period. Hedge funds and other institutional investors 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.