Timothy Nguyen, a significant shareholder of MeridianLink, Inc. (NYSE:MLNK), a company with a market capitalization of $1.73 billion, recently sold shares worth approximately $1.12 million over two days. According to InvestingPro data, while this insider sale occurred, management has been actively buying back shares. On December 3, he sold 20,604 shares at an average price of $23.1948 per share, and on December 4, he sold an additional 27,500 shares at an average price of $23.4323 per share. Following these transactions, Nguyen holds 10,640,130 shares indirectly through SCML, LLC, as noted in the filing. While currently unprofitable, InvestingPro analysis indicates analysts expect profitability this year, with the company maintaining strong liquidity ratios. Get access to 6 more key InvestingPro Tips and comprehensive financial analysis in the Pro Research Report.
In other recent news, MeridianLink, a provider of software platforms for financial institutions, reported steady growth in Q3 2024, with a 5% year-over-year revenue increase to $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. For Q4 2023, MeridianLink projects 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 announced strategic partnerships with Shastic and ScoreNavigator to enhance automation and credit analysis tools respectively. The collaboration with Shastic aims to democratize lending for community banks and credit unions by reducing manual processes. The integration with ScoreNavigator is expected to improve credit decision-making in mortgage lending.
UBS has upgraded MeridianLink to Neutral with a raised target of $25.50, citing the company's consistent 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.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.