MeridianLink (NYSE:MLNK) Price Target Lowered to $20.00 at Citigroup

MeridianLink (NYSE:MLNK) had its price objective reduced by Citigroup from $24.00 to $20.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s target price would suggest a potential downside of 7.31% from the stock’s current price.

A number of other equities research analysts have also issued reports on MLNK. Bank of America lowered MeridianLink from a “buy” rating to an “underperform” rating and lowered their target price for the company from $28.00 to $18.00 in a research note on Thursday, January 30th. Raymond James lowered their price objective on shares of MeridianLink from $28.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday. UBS Group reduced their target price on shares of MeridianLink from $25.50 to $20.50 and set a “neutral” rating on the stock in a research report on Tuesday. Barclays decreased their target price on shares of MeridianLink from $20.00 to $19.00 and set an “underweight” rating for the company in a research note on Friday. Finally, William Blair reaffirmed an “outperform” rating on shares of MeridianLink in a research note on Friday. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $20.58.

MeridianLink Trading Up 17.1 %

Shares of MLNK stock traded up $3.15 during mid-day trading on Friday, reaching $21.58. The company’s stock had a trading volume of 731,416 shares, compared to its average volume of 264,268. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $1.63 billion, a PE ratio of -32.20 and a beta of 1.01. The company’s 50 day simple moving average is $19.39 and its 200-day simple moving average is $21.32. MeridianLink has a 12-month low of $16.49 and a 12-month high of $25.33.

Insider Activity at MeridianLink

In related news, CEO Nicolaas Vlok sold 29,217 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $22.80, for a total transaction of $666,147.60. Following the sale, the chief executive officer now directly owns 1,043,382 shares of the company’s stock, valued at approximately $23,789,109.60. This represents a 2.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Timothy Nguyen sold 5,666 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $23.01, for a total value of $130,374.66. Following the transaction, the insider now owns 10,619,126 shares in the company, valued at $244,346,089.26. This trade represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 106,511 shares of company stock valued at $2,312,942 over the last ninety days. Corporate insiders own 21.30% of the company’s stock.

Institutional Trading of MeridianLink

Institutional investors and hedge funds have recently modified their holdings of the business. WCM Investment Management LLC boosted its holdings in shares of 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. Charles Schwab Investment Management Inc. boosted its stake in MeridianLink by 24.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 218,104 shares of the company’s stock valued at $4,486,000 after acquiring an additional 42,302 shares during the period. FMR LLC grew its holdings in shares of MeridianLink by 5.1% during the third quarter. FMR LLC now owns 23,408 shares of the company’s stock valued at $482,000 after purchasing an additional 1,139 shares during the last quarter. Centiva Capital LP acquired a new stake in shares of MeridianLink during the 3rd quarter worth approximately $823,000. Finally, Maven Securities LTD acquired a new stake in shares of MeridianLink during the 3rd quarter worth approximately $5,377,000. 82.65% of the stock is 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.