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 stock in a transaction dated Thursday, June 11th. The stock was 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 directly owned 463,463 shares in the company, valued at $6,034,288.26. This trade represents a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 stock was 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 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 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 Price Performance

Shares of NASDAQ:MRDN traded up $1.51 during trading on Friday, reaching $14.32. 75,404 shares of the company were exchanged, compared to its average volume of 37,025. The company has a market capitalization of $181.42 million, a price-to-earnings ratio of -1.97 and a beta of 0.67. The business’s fifty day simple moving average is $9.55. Meridian Holdings Inc. has a 12-month low of $5.80 and a 12-month high of $22.78. The company has a quick ratio of 0.48, a current ratio of 0.57 and a debt-to-equity ratio of 0.10.

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 45.94% and a negative return on equity of 99.65%. The business had revenue of $50.10 million for the quarter. On average, sell-side analysts anticipate that Meridian Holdings Inc. will post 0.33 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Meridian

Several institutional investors have recently bought and sold shares of MRDN. Marshall Wace LLP acquired a new stake in Meridian in the second quarter valued at approximately $57,000. Topline Capital Management LLC acquired a new stake in Meridian in the second quarter valued at approximately $90,000. Marex Group plc acquired a new stake in Meridian in the second quarter valued at approximately $26,000. Sandhill Capital Partners LLC acquired a new stake in Meridian in the third quarter valued at approximately $195,000. Finally, Squarepoint Ops LLC boosted its stake in Meridian by 115.2% in the third quarter. Squarepoint Ops LLC now owns 148,302 shares of the company’s stock valued at $168,000 after acquiring an additional 79,382 shares in the last quarter. 2.74% of the stock is currently owned by institutional investors and hedge funds.

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.