Charles Schwab Investment Management Inc. Buys 42,302 Shares of MeridianLink, Inc. (NYSE:MLNK)

Charles Schwab Investment Management Inc. boosted its position in shares of MeridianLink, Inc. (NYSE:MLNK - Free Report) by 24.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 218,104 shares of the company's stock after purchasing an additional 42,302 shares during the period. Charles Schwab Investment Management Inc. owned about 0.29% of MeridianLink worth $4,486,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of MeridianLink during the third quarter worth $231,000. Seven Grand Managers LLC bought a new stake in MeridianLink during the 3rd quarter worth about $2,057,000. Dimensional Fund Advisors LP increased its position in MeridianLink by 23.3% in 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 in the last quarter. American Century Companies Inc. raised its stake in shares of MeridianLink by 46.4% in the second quarter. American Century Companies Inc. now owns 18,896 shares of the company's stock worth $404,000 after acquiring an additional 5,988 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of MeridianLink by 10.1% during the second quarter. The Manufacturers Life Insurance Company now owns 16,218 shares of the company's stock worth $346,000 after purchasing an additional 1,490 shares in the last quarter. 82.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other MeridianLink news, CEO Nicolaas Vlok sold 29,217 shares of the stock in a transaction on Thursday, December 12th. The shares were 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 document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Thoma Bravo Ugp, Llc sold 6,000,000 shares of MeridianLink stock in a transaction on Monday, September 30th. The stock was sold at an average price of $21.05, for a total transaction of $126,300,000.00. Following the transaction, the insider now directly owns 29,582,388 shares in the company, valued at approximately $622,709,267.40. This represents a 16.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,864,860 shares of company stock valued at $144,991,819 in the last 90 days. 21.30% of the stock is owned by company insiders.

MeridianLink Trading Down 1.5 %

MLNK stock traded down $0.35 during midday trading on Friday, reaching $22.42. The company's stock had a trading volume of 181,120 shares, compared to its average volume of 271,550. The business's 50-day simple moving average is $22.32 and its 200-day simple moving average is $22.03. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 1.11. MeridianLink, Inc. has a 52 week low of $16.49 and a 52 week high of $25.88. The stock has a market cap of $1.69 billion, a PE ratio of -33.47 and a beta of 0.99.

Analysts Set New Price Targets

A number of analysts recently weighed in on MLNK shares. Raymond James raised their price target on shares of MeridianLink from $26.00 to $28.00 and gave the company an "outperform" rating in a report on Friday, November 8th. UBS Group raised MeridianLink from a "sell" rating to a "neutral" rating and lifted their target price for the company from $18.00 to $22.50 in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $22.90.

MeridianLink 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.