Insider Selling: MeridianLink, Inc. (NYSE:MLNK) Major Shareholder Sells 100,000 Shares of Stock

MeridianLink, Inc. (NYSE:MLNK) major shareholder Timothy Nguyen sold 100,000 shares of the firm’s 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 completion of the sale, the insider now directly owns 10,928,412 shares of the company’s stock, valued at approximately $256,817,682. This represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

MeridianLink Stock Down 3.0 %

NYSE:MLNK traded down $0.68 on Friday, reaching $22.02. 320,137 shares of the stock traded hands, compared to its average volume of 276,892. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of -33.34 and a beta of 0.98. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 1.11. MeridianLink, Inc. has a 12 month low of $16.49 and a 12 month high of $25.88. The company’s fifty day simple moving average is $22.25 and its 200 day simple moving average is $21.28.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Raymond James increased their price target on shares of MeridianLink from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Stifel Nicolaus increased their price target on shares of MeridianLink from $18.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. UBS Group upgraded shares of MeridianLink from a “sell” rating to a “neutral” rating and increased their price target for the stock from $18.00 to $22.50 in a research note on Monday. Finally, Barclays increased their price target on shares of MeridianLink from $18.00 to $20.00 and gave the stock an “underweight” rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.90.

Institutional Trading of MeridianLink

A number of institutional investors and hedge funds have recently bought and sold shares of MLNK. State Street Corp grew its stake in shares of MeridianLink by 20.7% in the third quarter. State Street Corp now owns 667,201 shares of the company’s stock worth $13,724,000 after acquiring an additional 114,578 shares during the period. Polar Asset Management Partners Inc. bought a new stake in shares of MeridianLink in the third quarter worth approximately $8,598,000. Maven Securities LTD bought a new stake in shares of MeridianLink in the third quarter worth approximately $5,377,000. Centiva Capital LP bought a new stake in shares of MeridianLink in the third quarter worth approximately $823,000. Finally, FMR LLC grew its stake in shares of MeridianLink by 5.1% in the third quarter. FMR LLC now owns 23,408 shares of the company’s stock worth $482,000 after acquiring an additional 1,139 shares during the period. 82.65% of the stock is currently owned by institutional investors.

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.