Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. MeridianLink Inc shares valued at $126,300,000 were sold by THOMA BRAVO UGP, LLC on Sep 30 ’24. At $21.05 per share, THOMA BRAVO UGP, LLC sold 6,000,000 shares. The insider’s holdings dropped to 29,582,388 shares worth approximately $597.86 million following the completion of this transaction.
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Also, Maloof Chris purchased 67,751 shares, netting a total of over 1,593,116 in proceeds.
Before that, Nguyen Timothy had sold 21,958 shares from its account. In a trade valued at $527,082, the 10% Owner traded MeridianLink Inc shares for $24.00 each. Upon closing the transaction, the insider’s holdings decreased to 21,958 shares, worth approximately $222.93 million.
As published in a research note from Wolfe Research on February 08, 2024, MeridianLink Inc [MLNK] has been rated up from an Underperform to a Peer perform. Analysts at UBS started covering the stock with ‘”a Sell”‘ outlook in a report released in mid October. Earlier on August 02, 2023, BTIG Research downgraded its rating. Their new recommendation was “a Neutral” for MLNK stock which previously was a “a Buy”.
Analyzing MLNK Stock Performance
During the last five days, there has been a drop of approximately -11.82%. Over the course of the year, MeridianLink Inc shares have dropped approximately -18.41%. Shares of the company reached a 52-week high of $25.33 on 09/18/24 and a 52-week low of $16.49 on 05/13/24. A 50-day SMA is recorded $22.56, while a 200-day SMA reached $20.73. Nevertheless, trading volume fell to 0.63 million shares from 0.36 million shares the previous day.
Support And Resistance Levels for MeridianLink Inc (MLNK)
According to the 24-hour chart, there is a support level at 20.02, which, if violated, would cause prices to drop to 19.82. In the upper region, resistance lies at 20.45. The next price resistance is at 20.68. RSI (Relative Strength Index) is 31.51 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.18, which suggests the price will decrease in the coming days. Percent R is at 91.27%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
