Timothy Nguyen, a significant shareholder of MeridianLink, Inc. (NYSE:MLNK), recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Nguyen sold 30 shares of MeridianLink's common stock on December 12, 2024, at a price of $23 per share, totaling $690. The sale price was slightly above the current trading price of $22.43, with the stock currently appearing overvalued according to InvestingPro analysis.
Following this transaction, Nguyen holds 10,612,415 shares indirectly through SCML, LLC, a trust-related entity. Additionally, he has indirect ownership of 814,526 shares through KCD30, LLC, where he maintains sole voting and dispositive power. While management has been actively buying back shares, the company's financial health shows mixed signals, with strong liquidity ratios exceeding short-term obligations but no profitability over the last twelve months. Discover more insights about MLNK's financial health and access detailed Pro Research Reports covering 1,400+ US stocks through InvestingPro's comprehensive analysis platform.
In other recent news, MeridianLink has reported a 5% year-over-year revenue growth in Q3 2024, reaching $80.4 million, along with 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. Looking to the future, 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.
In a strategic move, MeridianLink has partnered with Shastic to boost automation in lending and with ScoreNavigator to integrate advanced credit report analysis tools into its Mortgage Credit Link platform. These partnerships aim to enhance efficiency and credit analysis in lending, respectively.
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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