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

Key Points

• CEO Anthony Brian Goodman sold roughly 49,500 shares in multiple transactions across April–May, including 10,000 shares on May 4 at $12.75 (about $127,500), leaving him with 491,659 shares after the sale.
• MRDN stock jumped 18.9% to $13.31 on Wednesday with volume above average, and the price sits well above its 50-day moving average of $7.89.
• The company reported $50.1M in quarterly revenue and $0.18 EPS but shows negative return on equity and net margin, and analysts maintain a consensus "Sell" rating with an average target of $21.60.

Meridian Holdings Inc. (NASDAQ:MRDN - Get Free Report) CEO Anthony Brian Goodman sold 10,000 shares of the business's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $12.75, for a total value of $127,500.00. Following the completion of the transaction, the chief executive officer directly owned 491,659 shares in the company, valued at approximately $6,268,652.25. This represents a 1.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• 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.
• 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 value of $12,600.00.
• On Wednesday, April 22nd, Anthony Brian Goodman sold 4,603 shares of Meridian stock. The shares were sold at an average price of $6.34, for a total value of $29,183.02.
• On Friday, April 17th, Anthony Brian Goodman sold 404 shares of Meridian stock. The shares were sold at an average price of $6.90, for a total value of $2,787.60.
• On Thursday, April 16th, Anthony Brian Goodman sold 3,876 shares of Meridian stock. The shares were sold at an average price of $6.92, for a total value of $26,821.92.
• On Wednesday, April 15th, Anthony Brian Goodman sold 6,900 shares of Meridian stock. The shares were sold at an average price of $6.93, for a total value of $47,817.00.
• On Tuesday, April 14th, Anthony Brian Goodman sold 100 shares of Meridian stock. The shares were sold at an average price of $6.90, for a total value of $690.00.
• On Monday, April 13th, Anthony Brian Goodman sold 713 shares of Meridian stock. The shares were sold at an average price of $6.90, for a total value of $4,919.70.
• On Friday, April 10th, Anthony Brian Goodman sold 903 shares of Meridian stock. The shares were sold at an average price of $6.99, for a total value of $6,311.97.

Meridian Trading Up 18.9%

Shares of MRDN traded up $2.12 during trading hours on Wednesday, hitting $13.31. 41,440 shares of the stock traded hands, compared to its average volume of 31,843. 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 Holdings Inc. has a 1-year low of $5.80 and a 1-year high of $23.76. The stock has a market capitalization of $168.62 million, a price-to-earnings ratio of -1.79 and a beta of 0.61. The firm has a fifty day simple moving average of $7.89.

Meridian (NASDAQ:MRDN - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.18 earnings per share (EPS) for the quarter. Meridian had a negative return on equity of 99.76% and a negative net margin of 45.94%.The business had revenue of $50.10 million for the quarter. As a group, equities research analysts expect that Meridian Holdings Inc. will post 0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Meridian

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Marex Group plc bought a new stake in Meridian in the second quarter valued at about $26,000. Virtu Financial LLC bought a new stake in Meridian in the third quarter valued at about $33,000. Marshall Wace LLP bought a new stake in Meridian in the second quarter valued at about $57,000. Topline Capital Management LLC bought a new stake in Meridian in the second quarter valued at about $90,000. Finally, Continuum Advisory LLC increased its holdings 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 purchasing an additional 45,000 shares during the last quarter. Institutional investors own 2.74% of the company's stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings assumed coverage on Meridian in a report on Tuesday, April 7th. They issued a "sell (e+)" rating for the company. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of "Sell" and an average 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.

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