Insider Selling: Meridian (NASDAQ:MRDN) CEO Sells 5,000 Shares

Meridian Holdings Inc. (NASDAQ:MRDN) CEO Anthony Brian Goodman sold 5,000 shares of Meridian stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $14.33, for a total transaction of $71,650.00. Following the completion of the transaction, the chief executive officer owned 448,463 shares of the company’s stock, valued at $6,426,474.79. The trade was a 1.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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 transaction 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 transaction of $50,224.00.
• On Thursday, June 18th, Anthony Brian Goodman sold 5,000 shares of Meridian stock. The shares were sold at an average price of $13.70, for a total transaction 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 transaction of $126,800.00.
• On Thursday, June 11th, Anthony Brian Goodman sold 9,000 shares of Meridian stock. The stock was 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 value of $91,280.00.
• 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 value 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 value 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 value 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 value of $63,400.00.

Meridian Price Performance

MRDN stock traded up $0.01 during mid-day trading on Wednesday, reaching $13.22. 56,920 shares of the company traded hands, compared to its average volume of 38,773. The company has a fifty day moving average price of $10.65. Meridian Holdings Inc. has a 52-week low of $5.80 and a 52-week high of $22.78. The stock has a market capitalization of $167.48 million, a P/E ratio of -1.82 and a beta of 0.67. 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 released its quarterly earnings data on Tuesday, April 28th. The company reported $0.18 EPS for the quarter. The company 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, analysts forecast that Meridian Holdings Inc. will post 0.33 EPS for the current year.

Institutional Investors Weigh In On Meridian

Several hedge funds have recently bought and sold shares of MRDN. Marex Group plc bought a new position in shares of Meridian in the 2nd quarter worth $26,000. Virtu Financial LLC bought a new stake in shares of Meridian during the 3rd quarter worth $33,000. Marshall Wace LLP purchased 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 valued at $90,000. Finally, Continuum Advisory LLC increased its stake in Meridian by 375.0% in the fourth quarter. Continuum Advisory LLC now owns 57,000 shares of the company’s stock valued at $46,000 after acquiring an additional 45,000 shares during the last quarter. 2.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MRDN has been the topic of several research analyst reports. Wall Street Zen raised shares of Meridian to a “strong-buy” rating in a report on Saturday, May 9th. Weiss Ratings assumed coverage on Meridian in a research report on Tuesday, April 7th. They set a “sell (e+)” rating for the company. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell” and a consensus price target of $21.60.

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.