MeridianLink, Inc. (NYSE:MLNK) CEO Vlok Nicolaas recently made a series of stock transactions, according to a recent SEC filing. Nicolaas sold approximately $3.12 million worth of shares over three consecutive days, at prices ranging from $21.0927 to $22.4534 per share. The company, currently valued at $1.59 billion, is trading near $21 per share, with analyst targets ranging from $20 to $28. According to InvestingProthe stock maintains a financial health rating of FAIR.
On December 18, Nicolaas sold 47,854 shares at an average price of $21.7644, followed by the sale of 23,790 shares at an average price of $22.4534. The next day, December 19, saw the sale of 71,598 shares at an average price of $21.1721. Finally, on December 20, Nicolaas sold an additional 1,233 shares at an average price of $21.0927.
The transactions were part of a trading plan under Rule 10b5-1, which was launched in September 2024. Despite these sales, Nicolaas still owns a significant number of shares, indicating continued investment in the company.
In other recent news, MeridianLink reported revenue growth of 5% for fiscal year Q3 2024, reaching $80.4 million, alongside 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. Future forecasts show 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 and $317 million.
MeridianLink has formed strategic partnerships with Schastic and ScoreNavigator to increase automation and improve credit tools respectively. These partnerships aim to improve efficiency and customer service in the lending sector. Analysts at UBS upgraded MeridianLink to Neutral, raising the target to $25.50, based on the company's continued earnings and revenue performance.
This is a recent development that investors should be aware of. The company is focused on growth through organic efforts, disciplined mergers, and acquisitions, and buybacks. MeridianLink maintains a strong financial position, continuing to focus on growth strategy and digital capabilities despite macroeconomic challenges.
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