BlackRock Inc. purchased a new stake in Meridian Holdings Inc. (NASDAQ:MRDN - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 690,544 shares of the company's stock, valued at approximately $13,832,000. BlackRock Inc. owned about 5.45% of Meridian as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also made changes to their positions in MRDN. Marex Group plc bought a new stake in shares of Meridian in the second quarter valued at approximately $26,000. Virtu Financial LLC acquired a new position in Meridian during the 3rd quarter valued at $33,000. Continuum Advisory LLC raised its stake in Meridian by 375.0% during the 4th quarter. Continuum Advisory LLC now owns 57,000 shares of the company's stock valued at $46,000 after purchasing an additional 45,000 shares during the last quarter. Marshall Wace LLP bought a new stake in Meridian in the 2nd quarter valued at $57,000. Finally, Persistent Asset Partners Ltd bought a new stake in Meridian in the 2nd quarter valued at $58,000. 2.74% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
MRDN has been the topic of several research reports. Weiss Ratings upgraded shares of Meridian from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday, August 25th. Wall Street Zen upgraded Meridian to a "strong-buy" rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of "Sell" and a consensus price target of $21.60.
Check Out Our Latest Research Report on MRDN
Insiders Place Their Bets
In other Meridian news, CEO Anthony Brian Goodman sold 5,500 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $13.73, for a total transaction of $75,515.00. Following the completion of the transaction, the chief executive officer directly owned 429,313 shares in the company, valued at $5,894,467.49. This represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 45,150 shares of company stock valued at $601,149 in the last quarter. Corporate insiders own 9.37% of the company's stock.
Meridian Stock Down 1.4%
NASDAQ:MRDN opened at $13.46 on Friday. The stock's 50-day simple moving average is $13.69. Meridian Holdings Inc. has a 52 week low of $5.80 and a 52 week high of $16.09. The company has a market cap of $170.54 million, a P/E ratio of -2.00 and a beta of 0.68.
Meridian (NASDAQ:MRDN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.07 by $0.10. The firm had revenue of $50.19 million during the quarter. Meridian had a negative net margin of 41.41% and a negative return on equity of 117.87%. As a group, equities research analysts predict that Meridian Holdings Inc. will post 0.66 earnings per share for the current fiscal year.
Meridian Company Profile
(
Free Report)
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.
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