Continuum Advisory LLC Purchases 45,000 Shares of Meridian Holdings Inc. $MRDN

Continuum Advisory LLC lifted its position in Meridian Holdings Inc. (NASDAQ:MRDN) by 375.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 57,000 shares of the company’s stock after buying an additional 45,000 shares during the period. Continuum Advisory LLC’s holdings in Meridian were worth $46,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Susquehanna International Group LLP increased its position in shares of Meridian by 33.7% in the 3rd quarter. Susquehanna International Group LLP now owns 114,409 shares of the company’s stock valued at $129,000 after buying an additional 28,819 shares in the last quarter. Millennium Management LLC increased its position in shares of Meridian by 68.8% in the 3rd quarter. Millennium Management LLC now owns 131,812 shares of the company’s stock valued at $149,000 after buying an additional 53,703 shares in the last quarter. Citadel Advisors LLC increased its position in shares of Meridian by 1,603.2% in the 3rd quarter. Citadel Advisors LLC now owns 206,082 shares of the company’s stock valued at $233,000 after buying an additional 193,982 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Meridian in the 3rd quarter valued at $33,000. Finally, Topline Capital Management LLC increased its position in shares of Meridian by 1,072.4% in the 3rd quarter. Topline Capital Management LLC now owns 623,909 shares of the company’s stock valued at $705,000 after buying an additional 570,694 shares in the last quarter. Institutional investors own 2.74% of the company’s stock.

Insider Activity at Meridian

In other news, CEO Anthony Brian Goodman sold 20,000 shares of the stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $7.03, for a total transaction of $140,600.00. Following the completion of the transaction, the chief executive officer directly owned 551,176 shares in the company, valued at $3,874,767.28. This represents a 3.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders have sold 92,949 shares of company stock worth $731,943. Corporate insiders own 24.00% of the company’s stock.

Meridian Price Performance

Meridian stock opened at $12.25 on Monday. The business’s 50-day simple moving average is $9.12. Meridian Holdings Inc. has a one year low of $5.80 and a one year high of $23.76. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.48 and a current ratio of 0.57. The firm has a market cap of $155.21 million, a P/E ratio of -1.68 and a beta of 0.67.

Meridian (NASDAQ:MRDN) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.18 EPS for the quarter. Meridian had a negative net margin of 45.94% and a negative return on equity of 99.65%. The company had revenue of $50.10 million during the quarter. As a group, sell-side analysts expect that Meridian Holdings Inc. will post 0.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

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