Timothy Nguyen, a significant shareholder in MeridianLink, Inc. (NYSE:MLNK), a $1.74 billion market cap company currently trading near $23.06, recently sold shares worth $284,301 over two days, according to a regulatory filing. According to InvestingPro data, while this insider sale occurred, management has been actively buying back shares. On December 9, Nguyen sold 5,666 shares at a weighted average price of $23.0082 per share. The following day, he sold an additional 6,681 shares at a weighted average price of $23.041 per share. These transactions were executed within price ranges of $23.00 to $23.11 and $23.00 to $23.10, respectively. After these sales, Nguyen holds 10,612,445 shares indirectly through SCML, LLC, as noted in the filing. InvestingPro analysis shows the company maintains strong liquidity with a current ratio of 1.86, indicating robust financial health. Get access to more detailed insights and 6 additional ProTips with an InvestingPro subscription.
In other recent news, lending platform MeridianLink has reported significant developments. The company announced a 5% year-over-year revenue growth in Q3 2024, reaching $80.4 million, alongside an adjusted EBITDA of $33.8 million. MeridianLink returned $31.3 million to shareholders through stock buybacks and reported $18.7 million in free cash flow. Looking forward, MeridianLink projects 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 also been involved in strategic partnerships to boost automation and credit analysis. The company integrated with Shastic to enhance efficiency and customer service in financial institutions. Additionally, MeridianLink partnered with ScoreNavigator to integrate advanced credit report analysis tools into its Mortgage Credit Link platform, aiming to enhance credit analysis and decision-making in mortgage lending.
In terms of analyst upgrades, UBS has upgraded MeridianLink to Neutral with a raised target of $25.50. The upgrade is attributed to MeridianLink's steady revenue and earnings performance and an anticipated positive shift in the lending environment for 2025. These are the recent developments that investors should be aware of.
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