413,402 Shares in Meridian Holdings Inc. $MRDN Bought by Whetstone Capital Advisors LLC

Whetstone Capital Advisors LLC purchased a new position in Meridian Holdings Inc. (NASDAQ:MRDN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 413,402 shares of the company’s stock, valued at approximately $331,000. Meridian comprises about 0.1% of Whetstone Capital Advisors LLC’s holdings, making the stock its 27th largest holding. Whetstone Capital Advisors LLC owned about 0.29% of Meridian at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Marex Group plc bought a new stake in shares of Meridian in the second quarter worth $26,000. Virtu Financial LLC bought a new stake in shares of Meridian in the third quarter worth $33,000. Continuum Advisory LLC increased its stake in shares of Meridian by 375.0% in the fourth quarter. Continuum Advisory LLC now owns 57,000 shares of the company’s stock worth $46,000 after buying an additional 45,000 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Meridian in the second quarter worth $57,000. Finally, Deutsche Bank AG increased its stake in shares of Meridian by 224.4% in the fourth quarter. Deutsche Bank AG now owns 94,695 shares of the company’s stock worth $76,000 after buying an additional 65,501 shares during the last quarter. Institutional investors own 2.74% of the company’s stock.

Insiders Place Their Bets

In other Meridian news, CEO Anthony Brian Goodman sold 10,000 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $12.68, for a total transaction of $126,800.00. Following the completion of the sale, the chief executive officer owned 453,463 shares in the company, valued at $5,749,910.84. The trade was a 2.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 118,949 shares of company stock worth $1,067,203 in the last three months. 9.37% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MRDN shares. Weiss Ratings started 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, According to data from MarketBeat, the stock currently has an average rating of “Sell” and a consensus target price of $21.60.

Meridian Price Performance

MRDN stock 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. Meridian Holdings Inc. has a 1-year low of $5.80 and a 1-year high of $22.78. The company’s fifty day simple moving average is $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 (NASDAQ:MRDN) last released its earnings results on Tuesday, April 28th. The company reported $0.18 earnings per share for the quarter. Meridian had a negative net margin of 45.94% and a negative return on equity of 99.65%. The firm had revenue of $50.10 million during the quarter. As a group, analysts expect that Meridian Holdings Inc. will post 0.33 EPS for the current fiscal year.

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.