MeridianLink, Inc. (NYSE:MLNK) Receives $22.08 Consensus Price Target from Analysts

Shares of MeridianLink, Inc. (NYSE:MLNK) have received a consensus rating of “Hold” from the eight ratings firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $22.08.

A number of equities analysts have recently commented on the company. Raymond James raised their price target on MeridianLink from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Bank of America cut shares of MeridianLink from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $28.00 to $18.00 in a research note on Thursday. Finally, UBS Group upgraded shares of MeridianLink from a “sell” rating to a “neutral” rating and boosted their price target for the company from $18.00 to $22.50 in a research report on Monday, November 11th.

MeridianLink Stock Down 2.7 %

Shares of NYSE:MLNK opened at $19.26 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.86 and a current ratio of 1.86. MeridianLink has a 52-week low of $16.49 and a 52-week high of $25.33. The business’s 50 day simple moving average is $21.15 and its two-hundred day simple moving average is $21.94. The firm has a market cap of $1.45 billion, a P/E ratio of -28.74 and a beta of 1.02.

MeridianLink (NYSE:MLNK) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.17). The firm had revenue of $80.37 million for the quarter, compared to analysts’ expectations of $79.54 million. MeridianLink had a negative return on equity of 9.57% and a negative net margin of 16.57%. As a group, research analysts forecast that MeridianLink will post -0.35 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Nicolaas Vlok sold 29,217 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $22.80, for a total transaction of $666,147.60. Following the sale, the chief executive officer now owns 1,043,382 shares of the company’s stock, valued at $23,789,109.60. This trade represents a 2.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Timothy Nguyen sold 100,000 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $23.50, for a total transaction of $2,350,000.00. Following the sale, the insider now directly owns 10,928,412 shares in the company, valued at approximately $256,817,682. The trade was a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 286,488 shares of company stock valued at $6,525,738 over the last 90 days. Corporate insiders own 21.30% of the company’s stock.

Institutional Investors Weigh In On MeridianLink

A number of hedge funds have recently added to or reduced their stakes in MLNK. WCM Investment Management LLC increased its stake in MeridianLink by 1.0% in the 3rd quarter. WCM Investment Management LLC now owns 1,159,590 shares of the company’s stock valued at $24,340,000 after buying an additional 12,002 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of MeridianLink by 23.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 797,074 shares of the company’s stock valued at $17,026,000 after acquiring an additional 150,712 shares during the period. State Street Corp raised its holdings in MeridianLink by 20.7% during the third quarter. State Street Corp now owns 667,201 shares of the company’s stock worth $13,724,000 after purchasing an additional 114,578 shares during the last quarter. Geode Capital Management LLC boosted its position in MeridianLink by 12.2% during the third quarter. Geode Capital Management LLC now owns 603,443 shares of the company’s stock worth $12,415,000 after purchasing an additional 65,834 shares in the last quarter. Finally, Polar Asset Management Partners Inc. purchased a new stake in MeridianLink in the 3rd quarter valued at approximately $8,598,000. 82.65% of the stock is currently owned by institutional investors and hedge funds.

MeridianLink Company Profile

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.