Whetstone Capital Advisors LLC Takes Position in Meridian Holdings Inc. $MRDN

Whetstone Capital Advisors LLC purchased a new stake in shares of Meridian Holdings Inc. (NASDAQ:MRDN) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 413,402 shares of the company’s stock, valued at approximately $331,000. Meridian comprises 0.1% of Whetstone Capital Advisors LLC’s investment portfolio, making the stock its 27th biggest position.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Topline Capital Management LLC boosted its holdings in shares of Meridian by 1,072.4% during the third quarter. Topline Capital Management LLC now owns 623,909 shares of the company’s stock valued at $705,000 after acquiring an additional 570,694 shares during the period. Citadel Advisors LLC boosted its holdings in shares of Meridian by 1,603.2% during the third quarter. Citadel Advisors LLC now owns 206,082 shares of the company’s stock valued at $233,000 after acquiring an additional 193,982 shares during the period. Sandhill Capital Partners LLC acquired a new position in shares of Meridian during the third quarter valued at $195,000. Squarepoint Ops LLC boosted its holdings in shares of Meridian by 115.2% during the third quarter. Squarepoint Ops LLC now owns 148,302 shares of the company’s stock valued at $168,000 after acquiring an additional 79,382 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Meridian by 68.8% during the third quarter. Millennium Management LLC now owns 131,812 shares of the company’s stock valued at $149,000 after acquiring an additional 53,703 shares during the period. Institutional investors and hedge funds 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 company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $12.68, for a total value of $126,800.00. Following the completion of the sale, the chief executive officer directly owned 453,463 shares of the company’s stock, valued at approximately $5,749,910.84. This represents a 2.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have sold 118,949 shares of company stock valued at $1,067,203. 9.37% of the stock is currently owned by corporate insiders.

Meridian Stock Down 0.1%

MRDN stock opened at $14.32 on Monday. The firm has a market capitalization of $181.42 million, a P/E ratio of -1.97 and a beta of 0.67. The business has a 50-day moving average of $9.70. Meridian Holdings Inc. has a fifty-two week low of $5.80 and a fifty-two week high of $22.78. 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 posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.18 earnings per share for the quarter. The business 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%. Equities analysts anticipate that Meridian Holdings Inc. will post 0.33 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Wall Street Zen raised shares of Meridian to a “strong-buy” rating in a report on Saturday, May 9th. Weiss Ratings initiated coverage on shares of Meridian in a report on Tuesday, April 7th. They issued a “sell (e+)” rating for the company. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell” and a consensus price target 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.