MeridianLink (NYSE:MLNK) Sees Large Volume Increase

MeridianLink, Inc. (NYSE:MLNK) shares saw strong trading volume on Wednesday . 525,389 shares changed hands during trading, an increase of 123% from the previous session’s volume of 235,540 shares.The stock last traded at $25.20 and had previously closed at $23.73.

Wall Street Analysts Forecast Growth

MLNK has been the topic of several research reports. Barclays upped their price objective on shares of MeridianLink from $18.00 to $20.00 and gave the stock an “underweight” rating in a report on Friday, August 9th. Stifel Nicolaus increased their price objective on shares of MeridianLink from $18.00 to $22.00 and gave the company a “hold” rating in a research note on Friday, August 9th. Finally, UBS Group boosted their target price on MeridianLink from $17.00 to $18.00 and gave the stock a “sell” rating in a research note on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, MeridianLink currently has an average rating of “Hold” and an average target price of $20.60.

MeridianLink Stock Up 1.3 %

The stock has a 50 day moving average of $22.66 and a 200-day moving average of $20.15. The firm has a market capitalization of $1.84 billion, a P/E ratio of -43.94 and a beta of 1.01. The company has a debt-to-equity ratio of 1.06, a quick ratio of 2.04 and a current ratio of 2.04.

MeridianLink (NYSE:MLNK) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.04). MeridianLink had a negative net margin of 15.16% and a negative return on equity of 7.62%. The company had revenue of $78.70 million for the quarter, compared to the consensus estimate of $78.08 million. During the same quarter in the prior year, the company earned ($0.06) earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. Research analysts predict that MeridianLink, Inc. will post -0.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. nVerses Capital LLC purchased a new position in shares of MeridianLink in the second quarter worth about $41,000. Jump Financial LLC bought a new position in MeridianLink during the 4th quarter worth approximately $230,000. Russell Investments Group Ltd. increased its stake in MeridianLink by 26.4% in the 1st quarter. Russell Investments Group Ltd. now owns 15,430 shares of the company’s stock worth $289,000 after purchasing an additional 3,226 shares during the period. Capstone Investment Advisors LLC bought a new stake in MeridianLink in the first quarter valued at approximately $325,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of MeridianLink during the second quarter valued at approximately $336,000. Hedge funds and other institutional investors own 82.65% of the company’s stock.

About MeridianLink

MeridianLink, Inc, a software and services company, provides software solutions for banks, credit unions, mortgage lenders, specialty lending providers, and consumer reporting agencies in the United States. The company offers MeridianLink One, a multi-product platform that can be tailored to meet the needs of customers as they digitally transform their organizations and adapt to changing business and consumer demands; MeridianLink Portal, a Point of Sale system that allows financial institutions to expand existing lending and deposit account; MeridianLink Opening, a cloud-based online account opening and deposit software solution; MeridianLink Consumer, a full loan solution suite to banks and credit unions; and MeridianLink DecisionLender, a loan origination software (LOS) for finance companies.