MeridianLink (NYSE:MLNK) Price Target Cut to $24.00 by Analysts at Raymond James

MeridianLink (NYSE:MLNK - Free Report) had its price objective trimmed by Raymond James from $28.00 to $24.00 in a research report released on Friday morning, Marketbeat.com reports. The firm currently has an outperform rating on the stock.

A number of other research firms have also recently commented on MLNK. UBS Group cut their price objective on MeridianLink from $25.50 to $20.50 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Barclays dropped their price target on shares of MeridianLink from $20.00 to $19.00 and set an "underweight" rating on the stock in a research note on Friday. Finally, Bank of America lowered shares of MeridianLink from a "buy" rating to an "underperform" rating and cut their price target for the stock from $28.00 to $18.00 in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $20.58.

MeridianLink Price Performance

Shares of NYSE:MLNK traded down $0.98 during trading on Friday, reaching $19.72. 407,876 shares of the company's stock traded hands, compared to its average volume of 265,869. The firm has a market cap of $1.49 billion, a PE ratio of -29.44 and a beta of 1.01. MeridianLink has a fifty-two week low of $16.49 and a fifty-two week high of $25.33. 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 company has a 50-day simple moving average of $19.38 and a 200-day simple moving average of $21.28.

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Insider Buying and Selling

In other news, CEO Nicolaas Vlok sold 71,598 shares of the company's stock in a transaction on Thursday, December 19th. The shares were 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 of the company's stock, valued at $22,088,396.94. This represents a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last ninety days, insiders sold 100,845 shares of company stock worth $2,182,567. 21.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MeridianLink

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake 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 acquiring an additional 310,228 shares in the last quarter. Victory Capital Management Inc. acquired a new position in shares of MeridianLink during the 4th quarter worth approximately $29,461,000. WCM Investment Management LLC grew its position in shares of 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 purchasing an additional 12,002 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of 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 purchasing an additional 107,349 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in MeridianLink by 11.4% during the fourth quarter. Geode Capital Management LLC now owns 672,526 shares of the company's stock worth $13,890,000 after buying an additional 69,083 shares in the last quarter. 82.65% of the stock is owned by hedge funds and other institutional investors.

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.