The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. MeridianLink Inc shares valued at $12,027,253 were purchased by Timothy Nguyen on Nov 13 ’24. At $24.28 per share, Timothy Nguyen acquired 495,327 shares.
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Also, THOMA BRAVO UGP, LLC sold 650,000 shares, netting a total of over 13,682,500 in proceeds. Following the sale of shares at $21.05 each, the insider now holds 28,932,388 shares.
Before that, THOMA BRAVO UGP, LLC had sold 6,000,000 shares from its account. In a trade valued at $126,300,000, the 10% Owner traded MeridianLink Inc shares for $21.05 each. Upon closing the transaction, the insider’s holdings decreased to 6,000,000 shares, worth approximately $689.27 million.
As published in a research note from UBS on November 11, 2024, MeridianLink Inc [MLNK] has been rated up from a Sell to a Neutral and the price target has been revised to $22.50 from $18. Analysts at Wolfe Research upgraded the stock from ‘”an Underperform”‘ to ‘”a Peer perform”‘ outlook in a report released in early February. As of October 20, 2023, UBS has initiated its “Sell” rating for MLNK.
Analyzing MLNK Stock Performance
During the last five days, there has been a drop of approximately -3.12%. Over the course of the year, MeridianLink Inc shares have dropped approximately -5.93%. 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 $22.25, while a 200-day SMA reached $20.48. Nevertheless, trading volume fell to 0.82 million shares from 0.56 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 22.87, which, if violated, would cause prices to drop to 22.44. In the upper region, resistance lies at 24.02. The next price resistance is at 24.74. RSI (Relative Strength Index) is 56.22 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.08, which suggests the price will increase in the coming days. Percent R is at 43.19%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
