MeridianLink (NYSE:MLNK) Downgraded to "Underperform" Rating by Bank of America

MeridianLink (NYSE:MLNK - Get Free Report) was downgraded by investment analysts at Bank of America from a "buy" rating to an "underperform" rating in a report issued on Thursday, Marketbeat Ratings reports. They currently have a $18.00 price target on the stock, down from their previous price target of $28.00. Bank of America's price objective indicates a potential downside of 6.35% from the stock's current price.

Several other brokerages have also issued reports on MLNK. Raymond James lifted their price target on shares of MeridianLink from $26.00 to $28.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. UBS Group raised MeridianLink from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $18.00 to $22.50 in a research report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $22.08.

MeridianLink Stock Down 0.2 %

MLNK stock traded down $0.03 during trading hours on Thursday, reaching $19.22. 272,684 shares of the stock were exchanged, compared to its average volume of 248,275. The firm's 50-day moving average is $21.15 and its 200-day moving average is $21.94. MeridianLink has a 12 month low of $16.49 and a 12 month high of $25.33. The company has a market cap of $1.45 billion, a price-to-earnings ratio of -28.69 and a beta of 1.00. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.86 and a quick ratio of 1.86.

MeridianLink (NYSE:MLNK - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.17). MeridianLink had a negative net margin of 16.57% and a negative return on equity of 9.57%. The firm had revenue of $80.37 million during the quarter, compared to analyst estimates of $79.54 million. On average, equities research analysts expect that MeridianLink will post -0.35 earnings per share for the current year.

Insider Transactions at MeridianLink

In other MeridianLink news, CEO Nicolaas Vlok sold 71,598 shares of the company's stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $21.17, for a total value of $1,515,729.66. Following the completion of the transaction, the chief executive officer now owns 1,043,382 shares in the company, valued at $22,088,396.94. This represents a 6.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Timothy Nguyen sold 100,000 shares of the company's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $23.50, for a total value of $2,350,000.00. Following the completion of the transaction, the insider now owns 10,928,412 shares of the company's stock, valued at $256,817,682. This trade represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 286,488 shares of company stock worth $6,525,738. Company insiders own 21.30% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MLNK. SG Americas Securities LLC bought a new position in shares of MeridianLink during the 3rd quarter worth $231,000. Squarepoint Ops LLC bought a new position in shares of MeridianLink during the 2nd quarter worth $336,000. The Manufacturers Life Insurance Company grew its stake in shares of MeridianLink by 10.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,218 shares of the company's stock worth $346,000 after acquiring an additional 1,490 shares during the period. American Century Companies Inc. grew its stake in shares of MeridianLink by 46.4% during the 2nd 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 period. Finally, FMR LLC grew its stake in shares of MeridianLink by 5.1% during the 3rd 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. Institutional investors own 82.65% of the company's stock.

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.