MeridianLink, Inc. (NYSE:MLNK) CEO Vlok Nicolaas recently executed a series of stock transactions, according to a recent SEC filing. Nicolaas sold shares worth approximately $3.12 million over three consecutive days, with prices ranging from $21.0927 to $22.4534 per share. The company, currently valued at $1.59 billion, trades near $21 per share, with analyst targets ranging from $20 to $28. According to InvestingPro, the stock maintains a FAIR financial health rating.
On December 18, Nicolaas sold 47,854 shares at a weighted average price of $21.7644, followed by a sale of 23,790 shares at an average price of $22.4534. The following day, December 19, saw the sale of 71,598 shares at an average price of $21.1721. Finally, on December 20, Nicolaas sold an additional 1,233 shares at an average price of $21.0927.
The transactions were part of a trading plan under Rule 10b5-1, established in September 2024. Despite these sales, Nicolaas still holds a significant number of shares, reflecting continued investment in the company.
In other recent news, MeridianLink reported a 5% year-over-year revenue growth in Q3 2024, reaching $80.4 million, alongside an adjusted EBITDA of $33.8 million. The company also returned $31.3 million to shareholders through stock buybacks and reported $18.7 million in free cash flow. Future projections indicate Q4 2023 revenue to be between $76 million and $80 million and full-year 2024 revenue to increase by 3% to 4%, reaching between $313 million and $317 million.
MeridianLink has formed strategic partnerships with Shastic and ScoreNavigator to boost automation and enhance credit tools respectively. These partnerships aim to improve efficiency and customer service in the lending sector. UBS analysts have upgraded MeridianLink to Neutral, raising the target to $25.50, based on the company's consistent revenue and earnings performance.
These are recent developments that investors should be aware of. The company's focus is on growth through organic efforts, disciplined mergers, and acquisitions, and share repurchases. MeridianLink maintains a strong financial position, continuing to focus on growth strategy and digital capabilities despite macroeconomic challenges.
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