Insider Selling: MeridianLink, Inc. (NYSE:MLNK) CEO Sells 29,217 Shares of Stock

MeridianLink, Inc. (NYSE:MLNK - Get Free Report) CEO Nicolaas Vlok sold 29,217 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $22.80, for a total value of $666,147.60. Following the sale, the chief executive officer now directly owns 1,043,382 shares in the company, valued at approximately $23,789,109.60. This trade represents a 2.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

MeridianLink Stock Down 1.5 %

Shares of MeridianLink stock traded down $0.34 during midday trading on Friday, hitting $22.43. 181,120 shares of the company traded hands, compared to its average volume of 271,550. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 1.11. The firm's fifty day moving average price is $22.29 and its 200-day moving average price is $22.00. MeridianLink, Inc. has a 12 month low of $16.49 and a 12 month high of $25.88.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. UBS Group upgraded shares of MeridianLink from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $18.00 to $22.50 in a research note on Monday, November 11th. 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 report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four 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 a consensus target price of $22.90.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Pure Financial Advisors LLC bought a new stake in MeridianLink during the 2nd quarter worth approximately $434,000. Bank of New York Mellon Corp increased its holdings in MeridianLink by 14.3% in the second quarter. Bank of New York Mellon Corp now owns 98,299 shares of the company's stock valued at $2,100,000 after purchasing an additional 12,302 shares during the period. nVerses Capital LLC bought a new position in MeridianLink during the 2nd quarter worth $41,000. Rhumbline Advisers lifted its holdings in MeridianLink by 6.4% during the 2nd quarter. Rhumbline Advisers now owns 43,865 shares of the company's stock worth $937,000 after buying an additional 2,633 shares during the period. Finally, American Century Companies Inc. grew its position in shares of MeridianLink by 46.4% in the 2nd quarter. American Century Companies Inc. now owns 18,896 shares of the company's stock valued at $404,000 after buying an additional 5,988 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.