MeridianLink, Inc. (NYSE:MLNK), a $1.6 billion market cap company currently trading at $21.41, recently reported that its Chief Executive Officer, Vlok Nicolaas, executed a series of stock transactions. According to InvestingPro analysis, the company's management has been actively buying back shares, suggesting confidence in the business despite current market conditions. On December 16 and 17, Nicolaas sold a total of 144,421 shares of MeridianLink stock, with prices ranging from $22.19 to $22.4356 per share. These sales amounted to approximately $3.22 million.
In addition to the sales, Nicolaas also exercised stock options to acquire 144,421 shares at a price of $6.0607 per share. These transactions were conducted under a pre-arranged Rule 10b5-1 trading plan. Following these transactions, Nicolaas holds 1,043,382 shares in direct ownership, while an additional 29,810 shares are held indirectly through the Vlok Family Trust.
In other recent news, lending platform MeridianLink reported steady growth in Q3 2024 with a 5% year-over-year revenue increase, reaching $80.4 million. The company also recorded an adjusted EBITDA of $33.8 million and returned $31.3 million to shareholders through stock buybacks. Looking ahead, MeridianLink projects Q4 2023 revenue to be between $76 million and $80 million and expects full-year 2024 revenue to increase by 3% to 4%, reaching between $313 million and $317 million.
MeridianLink has also formed strategic partnerships with Shastic and ScoreNavigator to enhance automation and credit analysis tools respectively. UBS upgraded MeridianLink to Neutral with a raised target of $25.50, citing the company's consistent revenue and earnings performance. These recent developments highlight MeridianLink's commitment to growth and innovation in the lending sector.
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