Timothy Nguyen, a ten percent owner of MeridianLink, Inc. (NYSE:MLNK), recently sold a significant number of shares in the company. According to a recent SEC filing, Nguyen sold a total of 41,701 shares of common stock, with prices ranging from $23.00 to $23.42 per share. The total value of these transactions amounted to approximately $970,400. The sales occurred as the stock trades near $23.31, having gained over 25% in the past six months. According to InvestingPro analysis, the stock currently appears to be trading above its Fair Value.
The transactions, which took place on November 27 and December 2, involved sales of 1,701 and 40,000 shares respectively. Following these sales, Nguyen holds 10,688,234 shares indirectly through SCML, LLC, a trust for which he is deemed the beneficial owner. Additionally, he holds 814,526 shares indirectly through KCD30, LLC, where he has sole voting and dispositive power.
These recent sales are part of Nguyen's ongoing management of his substantial holdings in the software company.
In other recent news, MeridianLink reported a 5% year-over-year revenue growth in Q3 2024, reaching $80.4 million, and an adjusted EBITDA of $33.8 million. The company returned $31.3 million to shareholders through stock buybacks and reported $18.7 million in free cash flow. 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 integrated with Shastic to improve efficiency and customer service, aiming to extend its hyper-personalized workflow automation to a large number of banks and credit unions across the United States. The company also 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.
UBS has upgraded MeridianLink to Neutral with a raised target of $25.50, citing the company's steady revenue and earnings performance and an anticipated positive shift in the lending environment for 2025. These are recent developments that investors should be aware of.
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