Insider Selling: Meridian (NASDAQ:MRDN) CEO Sells 10,000 Shares of Stock

Meridian Holdings Inc. (NASDAQ:MRDN) CEO Anthony Brian Goodman sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $6.41, for a total transaction of $64,100.00. Following the sale, the chief executive officer owned 501,659 shares in the company, valued at approximately $3,215,634.19. This trade represents a 1.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• 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.
• 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 transaction 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 transaction 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 transaction of $4,919.70.
• On Friday, April 10th, Anthony Brian Goodman sold 903 shares of Meridian stock. The stock was sold at an average price of $6.99, for a total transaction of $6,311.97.
• On Thursday, April 9th, Anthony Brian Goodman sold 10,000 shares of Meridian stock. The stock was sold at an average price of $7.00, for a total transaction of $70,000.00.

Meridian Stock Performance

NASDAQ:MRDN traded up $1.75 during trading hours on Thursday, reaching $9.89. 153,901 shares of the company were exchanged, compared to its average volume of 25,533. The company has a quick ratio of 0.50, a current ratio of 0.59 and a debt-to-equity ratio of 0.14. The company has a market cap of $125.02 million, a P/E ratio of -1.33 and a beta of 0.28. Meridian Holdings Inc. has a 52-week low of $5.80 and a 52-week high of $23.76.

Meridian (NASDAQ:MRDN) last issued its earnings results on Tuesday, April 28th. The company reported $0.18 EPS for the quarter. Meridian had a negative net margin of 49.16% and a negative return on equity of 87.11%. The business had revenue of $50.10 million for the quarter. Analysts expect that Meridian Holdings Inc. will post -0.05 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Topline Capital Management LLC grew its holdings in Meridian by 1,072.4% during the 3rd quarter. Topline Capital Management LLC now owns 623,909 shares of the company’s stock worth $705,000 after acquiring an additional 570,694 shares in the last quarter. Whetstone Capital Advisors LLC acquired a new position in shares of Meridian in the 4th quarter valued at about $331,000. Citadel Advisors LLC boosted its holdings in shares of Meridian by 1,603.2% in the 3rd quarter. Citadel Advisors LLC now owns 206,082 shares of the company’s stock valued at $233,000 after buying an additional 193,982 shares during the period. Sandhill Capital Partners LLC acquired a new position in shares of Meridian in the 3rd quarter valued at about $195,000. Finally, Squarepoint Ops LLC boosted its holdings in shares of Meridian by 115.2% in the 3rd quarter. Squarepoint Ops LLC now owns 148,302 shares of the company’s stock valued at $168,000 after buying an additional 79,382 shares during the period. 2.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings assumed coverage on shares of Meridian in a research note on Tuesday, April 7th. They issued a “sell (e+)” rating on the stock. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Meridian presently has an average 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.