Meridian (NASDAQ:MRDN - Get Free Report) was upgraded by equities research analysts at Wall Street Zen to a "strong-buy" rating in a research report issued to clients and investors on Saturday.
Separately, Weiss Ratings started coverage on shares of Meridian in a report on Tuesday, April 7th. They issued a "sell (e+)" rating for the company. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of "Sell" and a consensus target price of $21.60.
Check Out Our Latest Research Report on MRDN
Meridian Stock Up 22.4%
MRDN stock opened at $13.44 on Friday. The company has a market capitalization of $170.27 million, a price-to-earnings ratio of -1.85 and a beta of 0.61. 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 has a twelve month low of $5.80 and a twelve month high of $23.76. The firm has a 50 day moving average of $8.08.
Meridian (NASDAQ:MRDN - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.18 EPS for the quarter. Meridian had a negative return on equity of 99.65% and a negative net margin of 45.94%.The business had revenue of $50.10 million during the quarter. On average, equities research analysts anticipate that Meridian will post 0.33 earnings per share for the current fiscal year.
Insider Activity at Meridian
In related news, CEO Anthony Brian Goodman sold 10,000 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $12.75, for a total transaction of $127,500.00. Following the completion of the sale, the chief executive officer directly owned 491,659 shares of the company's stock, valued at approximately $6,268,652.25. This trade represents a 1.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 80,753 shares of company stock worth $605,471 over the last three months. Company insiders own 9.37% of the company's stock.
Institutional Investors Weigh In On Meridian
Several large investors have recently made changes to their positions in MRDN. Sandhill Capital Partners LLC purchased a new position in shares of Meridian in the 3rd quarter worth about $195,000. Topline Capital Management LLC increased its holdings in Meridian by 1,072.4% during the third quarter. Topline Capital Management LLC now owns 623,909 shares of the company's stock worth $705,000 after buying an additional 570,694 shares during the last quarter. Deutsche Bank AG increased its holdings in Meridian by 224.4% during 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. Susquehanna International Group LLP raised its position in Meridian by 33.7% in the third quarter. Susquehanna International Group LLP now owns 114,409 shares of the company's stock worth $129,000 after acquiring an additional 28,819 shares during the period. Finally, Millennium Management LLC raised its position in Meridian by 68.8% in the third quarter. Millennium Management LLC now owns 131,812 shares of the company's stock worth $149,000 after acquiring an additional 53,703 shares during the period. 2.74% of the stock is owned by hedge funds and other institutional investors.
About Meridian
(
Get 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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