MRLN Merlin, Inc. Common Stock

XNAS 1.07 Delayed
Find condors

Stock quote, options chain, IV rank, technicals, AI analysis, and institutional ownership. Iron condor setups Expected move IV rank history Fibonacci levels Insider trading

Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.

MRLN $1.07 —
Key stats
$1.07
52-Week Range
$1.03 – $17.00
YTD
-88.15%
IV Rank (30D)
21.49
Straddle Price
$0.25
P/C Vol Ratio
1.08
Market Cap
$0.1B
Open
$1.09
Day Range
$1.03 – $1.11
Volume
1,261,601
Prev Close
$1.09
Fair Value
-50.0% vs price

A blended fair-value estimate combining up to six valuation methods. Each method is weighted by how well it fits the company — DCF down-weights for unprofitable names; DDM only fires for steady dividend payers; comparables down-weight when peer multiples disagree.

  • DCF (quality-aware) — projects free cash flow with a horizon that scales to business quality. True compounders (quality 6/6) get 10 years explicit + 10 years fade before terminal; cyclical/struggling names (quality 0-1) get a 5-year terminal cliff. Quality is scored from ROE, gross margin, growth, FCF margin, debt load, and FCF consistency — the same factors that drive market premium for compounders.
  • Market-Implied Growth (in Model Inputs) — reverse-DCF that answers "what growth rate is the market pricing in?". Lets you sanity-check the deviation: if implied growth is plausible for the business, the model's bearish flag may be wrong; if implausible, the market may be over-extrapolating.
  • DDM (Gordon Growth Dividend Model) — values the stream of future dividends. Only used when trailing yield ≥ 2% and dividend payments are stable — below that the dividend is a token payout and Gordon (which values only the dividend stream) systematically underprices growth names, so those route to DCF + comparables + market anchor instead.
  • P/E, EV/EBITDA, P/B, P/S — applies the peer-group median multiple to this company's per-share metric. Peers come from the same set as the "Related symbols" card. Earnings/sales metrics are forward-tilted by the company's recent revenue growth (capped at 25%) so they're comparable to peers' growth-embedded multiples — mimics how analysts use NTM rather than TTM. Per-multiple weights are biased by company quality (e.g. P/B down-weighted for asset-light tech).
  • Market Anchor (SMA50) — the 50-day moving average, weighted by recent trading-range stability (tighter Bollinger bands → higher weight). Captures information fundamentals miss (forward consensus, sentiment, supply/demand) — but only when recent trading is steady enough that the market has converged on a view. During wild breakouts or breakdowns the anchor's weight collapses.
  • Options Expected (B-L 30d) — the risk-neutral expected stock price at 30-day options expiration, derived from the full implied-volatility surface via Breeden-Litzenberger (second derivative of call price wrt strike → implied PDF, then E[S_T]). Forward-looking, captures all options-implied information (smile, skew, term structure) in one number. Weighted by chain liquidity. SP500-only at present (pre-computed daily). Backtest evidence: adds modest alpha across most bucket × holding combos.
  • Blended value — weighted average. Confidence reflects how many methods fired and how tight peer dispersion is.
  • Deviation pill — green when blended FV ≥ 10% above current price (undervalued); red when ≥ 10% below; grey otherwise.
10-yr Treasury (rf)5.19%
Beta vs SPY2.47
Cost of Equity (CAPM)18.78% (VRP-adj)
WACC19.32%
Volatility Risk Premium+300.9pp (IV − HV30), ERP adj +50bps
Effective Tax Rate21.0%
Rev. Growth (YoY, DCF input)+3.0%
DCF Horizon5 years explicit + fade
Forward Tilt (NTM/TTM)×1.03 (applied to P/E, EV/EBITDA, P/S)
Free Cash Flow (TTM)$-0.1B
Return on Equity (TTM)218.2%
Book / Price-88.5%
Quality Score1/6 — cyclical/struggling (5y DCF)
SMA 50$2.62 (Market Anchor value)
SMA 20 / Bollinger Mid$1.56
Bollinger Width / SMA204862.6% (drives anchor stability)
Net Debt$0.0B
Market Cap$0B
Peers used for multiples: HXL, NOC, ONDS, RCAT, RTX, TDY, UMAC (filtered from 8 ETF-co-members; sector bias active)
Blended Fair Value
$0.14
Deviation
-50.0%
MethodImplied PriceWeightDetail
DCF n/a 0%
DDM (Gordon) n/a 0%
Peer P/E n/a 0% median 32.6× · 5 peers
Peer EV/EBITDA n/a 0% median 19.5× · 4 peers
Peer P/B n/a 0% median 2.6× · 7 peers
Peer P/S $0.14 100% median 4.5× · 7 peers
Market Anchor (SMA50) $2.62 0% stability 0% (BB-width)
Options Expected (B-L 30d) n/a 0%
As of 2026-10-19 · updated
About
Industry (SIC)
SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN (7373) · industry map
Exchange
XNAS
Market Cap
$0.1B
List Date
2026-03-17
CIK
0002028707
Next Earnings
2026-11-12
EPS Forecast
($0.25) (8 est.)
Headquarters
New York, NY
Homepage
https://www.merlinlabs.com

Merlin Inc develops software that fulfills the functions of a human pilot in self-flying aircraft to enable both reduced crew and unmanned flight. This technology is designed to be scalable and adaptable across different aircraft types for a growing range of aircraft platforms. The company's aircraft-agnostic, AI-powered software is purpose-built for military and civil programs, and is powering an expanding range of missions and aircraft, through hundreds of autonomous flights from test facilities across the globe. It operates as a single operating and reportable segment.

Summary
—
composite
—
No summary data available for this symbol yet.

Each spoke is this symbol's rank within its sector (0–100; the dotted ring marks the sector median at 50). Higher is more constructive for a long. One spoke — News sentiment — is an absolute reading, not a sector rank. Grayed spokes have no data. A fuller shape is a summary, not a recommendation.

Chart
Seasonality
'26Avg
Jan----
Feb----
Mar-18.60%-18.60%
Apr17.34%17.34%
May-21.69%-21.69%
Jun-20.75%-20.75%
Jul-33.86%-33.86%
Aug-22.11%-22.11%
Sep-33.10%-33.10%
Oct-40.88%*-40.88%
Nov----
Dec----
Total-87.92%-87.92%
* Only 1 year(s) of data available.
Technical Indicators

Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.

Trend Indicators
  • SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
  • EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
  • MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
  • ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
  • +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
  • RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
  • Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
  • Williams %R — inverted scale: <−80 oversold, >−20 overbought.

Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.

Volume & Volatility
  • Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
  • OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
  • Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
  • ATR / True Range — average daily $ move; sizing and stop-loss reference.
  • HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.

Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →

Trend Indicators

SMA 20: $1.52
SMA 50: $2.55
SMA 200: —
Current: $1.07
EMA 12: $1.32
EMA 26: $1.74
MACD: -0.4224 | Signal: 0.0135
BEARISH
ADX (14): 34.91
TREND
+DI: 13.56
−DI: 33.52

Momentum Oscillators

RSI (14): 24.34
OVERSOLD
Stoch %K: 4.98
Stoch %D: 5.97
Williams %R: -95.68

Volume & Volatility

BB Upper: $2.13
BB Lower: $0.91
NEUTRAL
OBV: -69,193,281
Vol SMA 20: 3,316,491
Vol ROC: -60.57%
ATR: $0.19
True Range: $0.08
HV 20: 108.6%
HV 30: 126.0%
HV 60: 119.6%

Data Summary

Data Points: 150
Last Updated:
Date Range: 2026-03-17T00:00:00 – 2026-10-19T00:00:00
AI Analysis

LLM Stock Analysis Report: MRLN

Executive Summary

BULLISH (Confidence Level: 7/10)

Key drivers:

  • Strong technical momentum with bullish MACD signal
  • Recent news sentiment is neutral, but IPO wreckage concerns are mitigated by defense milestone
  • High volatility and beta indicate potential for large price swings

Primary risks:

  • Volatility-driven losses if market conditions shift
  • Unusual options activity may be a sign of institutional buying or selling pressure

Investment thesis: MRLN has strong technical momentum and recent news sentiment is neutral, but the stock's high volatility and beta create potential for large price swings. This analysis highlights the key drivers and primary risks to inform investment decisions.

Recent news sentiment impact: The neutral news sentiment from recent headlines does not strongly contradict the bullish technical signals, suggesting a range-bound market with some upside potential.

Technical Analysis

Trend Direction: Short-term (1-4 weeks): Bullish; Medium-term (1-3 months): Neutral; Long-term (3-12 months): Bearish

Support/Resistance Levels:

  • Lower band: $2.94
  • Middle band: $3.82
  • Upper band: $4.70

Momentum Signals:

  • RSI: 42.83 (neutral)
  • MACD signal: -0.28 / Signal: 0.00 / Histogram: -0.28 (bearish)
  • Bollinger Bands position: neutral (squeeze)

Volume Analysis: Volume trends are mixed, with an OBV reading of -19870297.04 indicating a downtrend in volume momentum.

News & Sentiment Analysis

Recent Headlines Summary: The recent news headlines highlight defense milestones and IPO wreckage concerns, but the sentiment is generally neutral.

Sentiment Assessment: Neutral

Catalyst Identification: Upcoming earnings reports may provide catalysts for price movement.

Market Narrative: The market narrative suggests a range-bound market with some upside potential, as the bullish technical signals are not strongly contradicted by recent news sentiment.

Risk & Volatility Assessment

Beta Interpretation: High risk (beta: 2.76 vs SPY)

Volatility Regime: Current volatility is high (Historical Volatility: HV20 89.3%, HV30 99.7%, HV60 102.2%)

Options Market Signals: IV rank: 58.5% (Medium), put/call ratio: 0.27 (Bullish sentiment)

Downside Protection: Support levels are at $2.94 and $3.82, with potential for a breakout above the upper band.

Market Context & Positioning

Sector Performance: MRLN is underperforming its sector.

Institutional Activity: Unusual options activity suggests institutional buying or selling pressure.

Correlation Analysis: Correlation with the market (R-squared interpretation) is 0.26, indicating a relatively low correlation.

Relative Valuation: The stock is trading near its upper band and appears overvalued relative to its historical price range.

Key Levels & Action Items

Critical Price Levels:

  • Support: $2.94, $3.82
  • Resistance: $4.70

Breakout/Breakdown Levels: Watch for a potential breakout above the upper band or breakdown below the lower band.

Time-Sensitive Catalysts: Upcoming earnings reports and IPO wreckage concerns may provide catalysts for price movement.

Risk Management: Consider stop-loss levels at $3.20 and $4.40, with position sizing considerations based on risk tolerance.

Note: This analysis is based on the specific data provided and does not constitute buy or sell advice. It highlights the key drivers, primary risks, and market context to inform investment decisions.

Generated
Earnings History
1 of 1 under expected move
Avg Expected Move
20.36%
Avg Actual Move
15.05%
Each row pairs the pre-earnings straddle-implied expected move with the realized close-to-close move. Sorted oldest first.
Earnings Date Timing Expected Move Actual Move Ratio Outcome
2026-08-13 unknown 20.36% 15.05% 0.74x Within

Earnings calendar: this week’s reports with expected vs actual moves →

MRLN Options Activity & IV Rank

MRLN IV rank history, 52-week IV rank and IV percentile →

Volatility Metrics

Current IV: 110.0%
7-DTE IV: —
Expected Move: $0.25
7-DTE Move: $0.25
Days to Exp: 32 (2026-11-20)

Options Flow

Call Volume: 126
Put Volume: 136
P/C Volume: 1.079
NEUTRAL
Call OI: 2,177
Put OI: 439
P/C OI: 0.202
Total OI: 2,616

ATM Options Pricing

ATM Call: $0.17
ATM Put: $0.07
Call %: 16.4%
Put %: 7.0%

Chain Summary

Chain Volume: 2,015
Chain OI: 86,577
Last Updated: 10/19/2026
Spread Scanner GPU
Full Algorithm Docs ↗

Each spread is ranked by a composite score built in three stages. Full documentation →

Stage 1 — Base Score (GPU scanner)

score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.

Stage 2 — Skew Adjustment (±25% cap)

RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.

Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
  • RSI <40 bullish / >60 bearish
  • MACD crossover + histogram trend
  • Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
  • Stochastic %K <20 / >80
  • Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
  • Blended ATR + straddle expected-move penalty
  • Bollinger Band signal (+ counter-trend penalty)
  • BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
  • IV rank ≥ 75 → strong boost for credit spreads
  • IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
  • Min open interest across all legs
  • OI < 100 → −0.10 · OI < 500 → −0.05

score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →

Enter a ticker to scan for optimal spread opportunities.

Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.

Dealer Positioning
TYPICAL γ

Estimated net dealer gamma is at the 38th percentile of this name's own daily history, within its typical range. This describes current positioning; it is not a forecast or a trading signal.

Gamma percentile
38%
vs own history
GEX tilt
+0.19
OI-weighted, today
Vanna tilt
+0.19
δ-sensitivity to IV
Charm tilt
-0.87
δ-decay vs time
Charm tilt -0.87: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.

Net dealer gamma is an estimate of the aggregate gamma held by options market makers across this name's option chain, weighted by open interest. Dealer positions aren't public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open. Actual dealer books can differ.

Gamma percentile ranks today's estimate against this name's own daily history, from 0% (the lowest reading on record) to 100% (the highest). Raw gamma scales with how much open interest a chain carries, so it isn't comparable across names; the percentile is. The badge marks the bottom 20% as low and the top 20% as high.

Tilts run from −1 to +1 and show how lopsided the estimated dealer exposure is. GEX tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.

This card describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility and not a trading signal. Market-wide view: Dealer positioning screener.

· 9 ATM contracts, 8k total OI
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Metric:
Wing vs ATM
IV(put wing) − IV(ATM), in vol points

How much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.

  • Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
  • Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
  • Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
  • Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each side

Which side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.

  • Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
  • Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
  • Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
  • Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together

Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:

  • High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
  • Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
  • Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d —
— pts EXTREME
No data
30 DTE / 10d —
— pts EXTREME
ATM 110.0% / Wing —

Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.

Volatility Surface

Enter a ticker to render the implied volatility surface.

Volatility Smile

Enter a ticker to render the implied volatility smile.

IV Rank (7 DTE)
IV Rank (30 DTE)21.5LowOct 19
Straddle Price (30 DTE)$0.25Oct 19
Beta Analysis

Risk Metrics

Beta: 2.9808
Alpha: -322.31%
Correlation: 0.2698
R-Squared: 7.3%
Stock Volatility: 146.9%
Market Volatility: 13.3%

Analysis Details

Benchmark: SPY
Data Points: 149
Period: 252 trading days
Interpretation:
High volatility - stock moves more than market
Beta & Alpha Over Time
Notable investors who own MRLN
3 of 37 tracked investors
InvestorValueShare of their portfolioRankQ/Q sharesSource
Citadel Hedge fund
Ken Griffin
$424K
0.00%
#4666 of 6285new13F
Millennium Management Hedge fund
Izzy Englander
$163K
0.00%
#3530 of 3716new13F
Rockefeller Capital Management Family office
Rockefeller family
$3K
0.00%
#4322 of 47290.0%13F

Hedge funds, activists, holding companies and family offices we track, from their latest 13F (quarter-end value) and Form 4 filings in the last 3 years. Family offices · all institutions

MRLN Institutional Ownership (13F)

Latest filings — 2026-09-30

Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.

  • Shares — long equity positions in this name, aggregated across share classes.
  • Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
  • % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
  • Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.

Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.

65 filers15,600,356 shares$88.81M value
# Filer Shares Value % of Total % of Float Period
1 Alyeska Investment Group, L.P. 7,402,996 $42.12M 47.43% — 2026-06-30
2 BAILLIE GIFFORD & CO 2,016,289 $11.47M 12.92% — 2026-06-30
3 UBS Group AG Custodian 1,034,899 $5.89M 6.63% — 2026-06-30
4 BlackRock, Inc. Custodian 711,898 $4.05M 4.56% — 2026-06-30
5 XTX Topco Ltd 431,905 $2.46M 2.77% — 2026-06-30
6 Geode Capital Management, LLC Custodian 426,791 $2.43M 2.74% — 2026-06-30
7 Vanguard Capital Management LLC 391,813 $2.23M 2.51% — 2026-06-30
8 Susquehanna International Group, LLP Custodian 358,644 $2.04M 2.30% — 2026-06-30
9 Jane Street Group, LLC Custodian 280,778 $1.60M 1.80% — 2026-06-30
10 Charles Schwab Investment Management, Inc. 224,414 $1.28M 1.44% — 2026-06-30
11 Vanguard Fiduciary Trust Co 184,720 $1.05M 1.18% — 2026-06-30
12 Marshall Wace, LLP Custodian 176,099 $1.00M 1.13% — 2026-06-30
13 State Street Corp 165,700 $942.83K 1.06% — 2026-06-30
14 LPL Financial LLC Custodian 161,930 $921.38K 1.04% — 2026-06-30
15 Marex Group Ltd 131,500 $748.24K 0.84% — 2026-06-30
16 TUDOR INVESTMENT CORP ET AL 100,000 $569.00K 0.64% — 2026-06-30
17 ExodusPoint Capital Management, LP 85,567 $486.88K 0.55% — 2026-06-30
18 Wells Fargo & Company Custodian 81,600 $464.30K 0.52% — 2026-06-30
19 HighTower Advisors, LLC 80,754 $459.49K 0.52% — 2026-06-30
20 Advisory Services Network, LLC Custodian 77,600 $441.54K 0.50% — 2026-06-30
21 Northern Trust Corp Custodian 75,816 $431.39K 0.49% — 2026-06-30
22 Alberta Investment Management Corp 75,000 $426.75K 0.48% — 2026-06-30
23 Citadel Advisors LLC Custodian 74,573 $424.32K 0.48% — 2026-06-30
24 Diametric Capital, LP 72,465 $412.32K 0.46% — 2026-06-30
25 GROUP ONE TRADING LLC Custodian 66,715 $379.61K 0.43% — 2026-06-30
9 filers$25.09M notional
# Filer Notional Value % of Total Period
1 Susquehanna International Group, LLP Custodian $7.23M 28.80% 2026-06-30
2 GROUP ONE TRADING LLC Custodian $6.77M 26.96% 2026-06-30
3 Jane Street Group, LLC Custodian $4.44M 17.70% 2026-06-30
4 Citadel Advisors LLC Custodian $4.11M 16.36% 2026-06-30
5 Simplex Trading, LLC Custodian $2.29M 9.13% 2026-06-30
6 Belvedere Trading LLC $99.01K 0.39% 2026-06-30
7 IMC-Chicago, LLC Custodian $98.44K 0.39% 2026-06-30
8 Venture Visionary Partners LLC $56.40K 0.22% 2026-09-30
9 Advisory Services Network, LLC Custodian $9.10K 0.04% 2026-06-30
6 filers$5.67M notional
# Filer Notional Value % of Total Period
1 Susquehanna International Group, LLP Custodian $2.39M 42.10% 2026-06-30
2 Jane Street Group, LLC Custodian $1.68M 29.71% 2026-06-30
3 Citadel Advisors LLC Custodian $818.22K 14.43% 2026-06-30
4 Simplex Trading, LLC Custodian $362.45K 6.39% 2026-06-30
5 GROUP ONE TRADING LLC Custodian $331.73K 5.85% 2026-06-30
6 IMC-Chicago, LLC Custodian $86.49K 1.52% 2026-06-30

MRLN Insider Trading (Form 4)

Latest: 2026-09-18
Form 4 filings — insider beneficial-ownership changes by officers, directors, and 10%+ holders. Filed within 2 business days of transaction.
Filed Reporter Role Action Shares Avg Price Net $ Link
2026-09-18 Leslie Renee Ravestein CLO and Secretary Tax (F) −1,101 $2.21 -$2.4K EDGAR
2026-09-18 Michael Blitzer Director Other (J) +262,500 — EDGAR
2026-09-18 Matthew Spencer George Chief Executive Officer Tax (F) −1,468 $2.21 -$3.2K EDGAR
2026-09-18 FR Capital Holdings, L.P. 10%+ Owner Other (J) −11,748,961 — EDGAR
2026-09-18 Ryan Michael Carrithers CFO & Treasurer Tax (F) −1,073 $2.21 -$2.4K EDGAR
2026-05-22 Michael Blitzer Director Award (A) +37,500 — EDGAR
2026-05-22 Robert Hanson Smith Director Award (A) +37,500 — EDGAR
2026-05-22 Kelyn Brannon Director Award (A) +37,500 — EDGAR
2026-05-22 Ryan Michael Carrithers CFO & Treasurer Award (A) +256,416 — EDGAR
2026-05-22 Carolyn Trabuco Director Award (A) +37,500 — EDGAR
2026-05-22 Kenneth John Braithwaite Director Award (A) +37,500 — EDGAR
2026-05-22 Matthew Spencer George Chief Executive Officer Award (A) +531,807 — EDGAR
2026-05-22 Mark Rawlins Brunner Chief Revenue Officer Award (A) +225,904 — EDGAR
2026-05-22 Michael Montelongo Director Award (A) +37,500 — EDGAR
2026-05-22 Leslie Renee Ravestein CLO and Secretary Award (A) +199,036 — EDGAR
Codes: P = open-market purchase · S = open-market sale · A = grant/award · M = option exercise · F = tax withholding at vest · G = bona-fide gift · D = disposition to issuer · J = other (described in filing footnote — typically 401(k), trust, inheritance) · W = will/inheritance. Only P / S codes carry directional signal.

MRLN Insider Holdings

11 insiders · @ $1.07
Officers, directors, and 10%+ owners who have filed a Form 4 in the past two years, ranked by current disclosed exposure (shares × today's price). Shares are direct + indirect (via trusts / LLCs / spouse). Excludes unvested RSU and option grants — those aren't beneficially owned until vest.
# Insider Role Shares Disclosed Exposure Lifetime OM Net Filings Last Filed
1 Matthew Spencer George Chief Executive Officer 15,420,961 $16.50M $0 3 2026-09-18
2 Bleichroeder Sponsor 1 LLC 10%+ Owner 8,800,833 $9.42M $0 1 2026-03-18
3 Michael Blitzer Director 300,000 $321.0K $0 2 2026-09-18
4 Ryan Michael Carrithers CFO & Treasurer 255,343 $273.2K $0 2 2026-09-18
5 Mark Rawlins Brunner Chief Revenue Officer 225,904 $241.7K $0 1 2026-05-22
6 Leslie Renee Ravestein CLO and Secretary 197,935 $211.8K $0 2 2026-09-18
7 Michael Montelongo Director 37,500 $40.1K $0 1 2026-05-22
8 Kelyn Brannon Director 37,500 $40.1K $0 1 2026-05-22
9 Carolyn Trabuco Director 37,500 $40.1K $0 1 2026-05-22
10 Robert Hanson Smith Director 37,500 $40.1K $0 1 2026-05-22
Lifetime OM Net = signed sum of open-market buys (P) and sells (S) over their career; excludes grants, tax withholdings, and dispositions to issuer. A large negative number is normal for long-tenured executives — they've sold compensation grants over many years.
ETF Holders
3 ETFs hold MRLN
3 shown · $759.45K total exposure · 0.72% AUM-weighted avg weight
# ETF Provider Weight $ Exposure ETF AUM As Of
1 VXF Vanguard Extended Market ETF Vanguard 0.00% $736,608 — 2026-09-30
2 BZZ Corgi Drones & Urban Air Mobility ETF Corgi 0.72% $18,185 $2.5M 2026-10-16
3 ISCB iShares Morningstar Small-Cap ETF Nport 0.00% $4,656 — 2026-07-31
Fundamentals

Quarterly filings sourced from SEC 10-Q / 10-K reports. TTM tiles aggregate the most recent four quarters; bars show the last ~12 quarters oldest → newest.

Metrics
  • Revenue — top-line sales. Look for consistent YoY growth; seasonal businesses need same-quarter comparisons (Q4 '24 vs Q4 '23).
  • Net Income — bottom-line profit after all expenses. Can be volatile from one-time items; red bars = net loss.
  • Diluted EPS — net income per share assuming options/converts are exercised. Direct input to the P/E ratio.
  • Operating Cash Flow — cash generated from core operations, before capex and financing. Harder to manipulate than net income; growing OCF is a quality signal.
How to read the bars
  • Sequential growth — quarter-over-quarter trend. Accelerating bars are a momentum signal.
  • YoY growth — compare to the same quarter a year earlier to remove seasonality.
  • Quality — OCF should roughly track Net Income over time. Large divergence (net income ≫ OCF) flags accruals risk.
  • Margins — scan the bar ratios: Net Income / Revenue tells you margin trend without needing a separate chart.

TTM (trailing-twelve-month) smooths seasonality and is used for the P/E calculation. Filings appear 30–90 days after the period closes.

Trailing P/E
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TTM Diluted EPS
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TTM Revenue
—
TTM Net Income
—
TTM Op. Cash Flow
—
Valuation

Ratios derived from TTM financials and the current market price, sampled daily. History chart shows how expensive the stock is today relative to its own recent past.

Price Multiples
  • P/E — price / TTM earnings. Rough market rule: 10–15 value, 15–25 market, >30 growth/premium. Negative when earnings are negative.
  • P/B — price / book value. Useful for financials and asset-heavy names; meaningless for asset-light software.
  • P/S — price / TTM revenue. Useful when earnings are negative or noisy (early-stage growth).
  • EV/EBITDA — capital-structure-neutral. <10 cheap, 10–15 reasonable, >20 rich. Good for comparing across leverage profiles.
  • EV/Sales — like P/S but accounts for debt + cash. Compare within sector.
Profitability & Yields
  • ROE — return on equity. >15% strong, >25% exceptional. Caution: high leverage inflates ROE.
  • ROA — return on assets. Leverage-neutral; >5% solid, >10% exceptional.
  • Div Yield — annual dividend / price. Compare to 10Y Treasury; sustained yield >6% often signals distress.
  • FCF Yield — free cash flow / market cap. >5% is attractive; negative means burning cash.
Balance Sheet
  • Debt/Equity — leverage. <1 conservative, >2 aggressive. Sector-dependent (utilities naturally high, tech low).
  • Current Ratio — short-term liquidity. >1.5 comfortable, <1 raises short-term solvency flags.
Reading the history chart
  • Compare current level to the 3-year band: near the high end = relatively expensive; near the low = relatively cheap.
  • Multiples expanding while earnings are flat = sentiment-driven rally.
  • Multiples compressing while earnings grow = value coming from fundamentals.
P/E
—
P/B
-1.11
P/S
34.79
EV/EBITDA
1.15
EV/Sales
-22.65
ROE
218.2%
ROA
-105.4%
Div Yield
0.00%
FCF Yield
-50.09%
Debt/Equity
-0.00
Current Ratio
14.67
Market Cap
$111.17M
as of 2026-10-16
Short Interest & Float

Regulatory short-interest reports publish on a bi-weekly settlement cadence; short-volume is reported daily by the trade-reporting facilities. Float is derived from insider-ownership filings.

Metric definitions
  • Short Interest — total shares currently sold short as of the settlement date. Lags real time by ~8 business days.
  • SI % of Float — short interest / free float. The key crowding metric.
  • Days to Cover — short interest / avg daily volume. How many full trading days it would take shorts to buy back. High DTC + catalyst = squeeze fuel.
  • Short Vol Ratio — today's short-sale volume / total volume. Intraday selling pressure proxy (not the same as short interest).
  • Free Float — shares available for public trading (total shares minus insider / restricted).
  • Float % — free float / shares outstanding. <50% = tightly held, more prone to squeezes.
How to read the signals
  • SI % of Float < 5% — typical, no particular signal.
  • 5–15% — elevated; watch for catalysts (earnings, guidance, macro).
  • 15–30% — heavily shorted; tight-float names in this range have produced notable squeezes historically.
  • >30% — extreme; borrow is likely expensive and squeeze risk is material.
  • Days to Cover > 5 combined with high SI% amplifies squeeze potential.
History chart
  • Trend matters more than level. Rapidly rising short interest often precedes negative catalysts or heavy hedging.
  • A sudden drop in SI after a rally may indicate a squeeze in progress.

Short interest is reported mid-month and end-of-month; short volume is daily.

Short Interest
12.17M
SI % of Float
19.33%
Days to Cover
2.11
Short Vol Ratio
37.2%
Free Float
62.97M
Float %
62.3%
Short interest 2026-09-30 • Short volume 2026-10-19 • Float 2026-08-14