MeridianLink (NYSE:MLNK) Price Target Cut to $19.00 by Analysts at Barclays

MeridianLink (NYSE:MLNK - Get Free Report) had its target price cut by Barclays from $20.00 to $19.00 in a research report issued to clients and investors on Friday, Marketbeat.com reports. The firm presently has an "underweight" rating on the stock. Barclays's price target indicates a potential downside of 3.66% from the stock's current price.

MLNK has been the subject of a number of other reports. Bank of America cut MeridianLink from a "buy" rating to an "underperform" rating and cut their price objective for the company from $28.00 to $18.00 in a report on Thursday, January 30th. UBS Group reduced their price target on shares of MeridianLink from $25.50 to $20.50 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Finally, Raymond James upped their price objective 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. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $20.58.

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MeridianLink Price Performance

Shares of MeridianLink stock traded down $0.98 during midday trading on Friday, hitting $19.72. 407,876 shares of the company were exchanged, compared to its average volume of 265,633. The firm has a 50 day simple moving average of $19.40 and a 200-day simple moving average of $21.30. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.86 and a quick ratio of 1.86. The firm has a market cap of $1.49 billion, a P/E ratio of -29.44 and a beta of 1.01. MeridianLink has a 52 week low of $16.49 and a 52 week high of $25.33.

Insider Activity

In other news, CEO Nicolaas Vlok sold 71,598 shares of the business's stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $21.17, for a total transaction of $1,515,729.66. Following the completion of the sale, the chief executive officer now owns 1,043,382 shares in the company, valued at $22,088,396.94. The trade was a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 100,845 shares of company stock valued at $2,182,567 over the last three months. 21.30% of the stock is owned by insiders.

Institutional Trading of MeridianLink

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MLNK. Vanguard Group Inc. lifted its position in MeridianLink by 10.5% during the 4th quarter. Vanguard Group Inc. now owns 3,266,023 shares of the company's stock valued at $67,443,000 after purchasing an additional 310,228 shares during the period. Victory Capital Management Inc. acquired a new position in MeridianLink in the fourth quarter valued at approximately $29,461,000. WCM Investment Management LLC boosted its stake in MeridianLink by 1.0% in the third quarter. WCM Investment Management LLC now owns 1,159,590 shares of the company's stock valued at $24,340,000 after acquiring an additional 12,002 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in MeridianLink by 12.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 986,105 shares of the company's stock valued at $20,363,000 after acquiring an additional 107,349 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in MeridianLink by 11.4% during the 4th quarter. Geode Capital Management LLC now owns 672,526 shares of the company's stock worth $13,890,000 after acquiring an additional 69,083 shares during the period. 82.65% of the stock is currently owned by institutional investors and hedge funds.

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.