COSTA MESA, Calif.—Timothy Nguyen, a ten percent owner of MeridianLink, Inc. (NYSE:MLNK), recently sold shares of the company's common stock, according to a recent SEC filing. The transactions, which took place on December 5 and 6, involved the sale of 6,809 and 8,529 shares, respectively. The software company, currently valued at $1.7 billion, has seen its stock trade near $23, showing a 6% gain over the past year.
The shares were sold at prices ranging between $23.00 and $23.17, for a total transaction value of approximately $353,445. Following these sales, Nguyen holds 10,624,792 shares indirectly through SCML, LLC, a trust managed by Apichat Treerojporn, and 814,526 shares through KCD30, LLC, which he manages directly. According to InvestingPro, while the company isn't currently profitable, analysts expect it to turn profitable this year, with a strong current ratio of 1.86 indicating solid liquidity.
These transactions reflect Nguyen's ongoing management of his holdings in MeridianLink, a leading provider of prepackaged software services. While management has been actively buying back shares, InvestingPro analysis suggests the stock is trading above its Fair Value, with several additional insights available to subscribers.
In other recent news, lending platform MeridianLink reported a 5% year-over-year revenue growth in Q3 2024, reaching $80.4 million, with 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. Looking ahead, 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 also announced partnerships with Shastic and ScoreNavigator to boost automation and enhance credit analysis tools, respectively. UBS 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. MeridianLink continues to focus on growth through strategic partnerships, disciplined mergers, and acquisitions, and share repurchases. The company's integration with Shastic and ScoreNavigator reflects the ongoing trend of financial institutions leveraging technology to improve efficiency and customer service.
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