Continuum Advisory LLC Has $46,000 Holdings in Meridian Holdings Inc. $MRDN

Continuum Advisory LLC lifted its holdings in Meridian Holdings Inc. (NASDAQ:MRDN) by 375.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,000 shares of the company’s stock after acquiring an additional 45,000 shares during the quarter. Continuum Advisory LLC’s holdings in Meridian were worth $46,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of MRDN. Marex Group plc acquired a new position in shares of Meridian in the 2nd quarter worth approximately $26,000. Virtu Financial LLC acquired a new position in Meridian during the 3rd quarter worth $33,000. Marshall Wace LLP acquired a new position in Meridian during the 2nd quarter worth $57,000. Topline Capital Management LLC acquired a new position in Meridian during the 2nd quarter worth $90,000. Finally, Susquehanna International Group LLP lifted its holdings in Meridian by 33.7% during the 3rd quarter. Susquehanna International Group LLP now owns 114,409 shares of the company’s stock worth $129,000 after buying an additional 28,819 shares in the last quarter. 2.74% of the stock is owned by institutional investors and hedge funds.

Meridian Stock Performance

Shares of Meridian stock opened at $12.25 on Monday. The company’s fifty day simple moving average is $9.12. The company has a market cap of $155.21 million, a PE ratio of -1.68 and a beta of 0.67. Meridian Holdings Inc. has a 52 week low of $5.80 and a 52 week high of $23.76. 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 issued its earnings results on Tuesday, April 28th. The company reported $0.18 EPS for the quarter. The company 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%. As a group, research analysts forecast that Meridian Holdings Inc. will post 0.33 EPS for the current fiscal year.

Insider Activity at Meridian

In related news, CEO Anthony Brian Goodman sold 12,196 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $10.37, for a total value of $126,472.52. Following the completion of the sale, the chief executive officer owned 479,463 shares in the company, valued at $4,972,031.31. This represents a 2.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have sold 92,949 shares of company stock worth $731,943. Insiders own 24.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on MRDN. Wall Street Zen raised Meridian to a “strong-buy” rating in a report on Saturday, May 9th. Weiss Ratings began coverage on Meridian in a report on Tuesday, April 7th. They set a “sell (e+)” rating on the stock. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell” and an average 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.