MeridianLink (NYSE:MLNK) Given New $20.00 Price Target at Citigroup

MeridianLink (NYSE:MLNK - Free Report) had its price objective lowered by Citigroup from $24.00 to $20.00 in a research report report published on Friday morning, Marketbeat.com reports. The firm currently has a neutral rating on the stock.

A number of other research firms also recently commented on MLNK. Bank of America downgraded MeridianLink from a "buy" rating to an "underperform" rating and reduced their target price for the company from $28.00 to $18.00 in a research report on Thursday, January 30th. 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. William Blair reiterated an "outperform" rating on shares of MeridianLink in a research report on Friday. Raymond James reduced their price target on shares of MeridianLink from $28.00 to $24.00 and set an "outperform" rating on the stock in a research note on Friday. Finally, Barclays dropped their target price on shares of MeridianLink from $20.00 to $19.00 and set an "underweight" rating for the company in a report on Friday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, MeridianLink has an average rating of "Hold" and an average target price of $20.58.

MeridianLink Trading Down 4.5 %

MeridianLink stock traded down $0.93 during trading on Friday, reaching $19.77. 139,200 shares of the company were exchanged, compared to its average volume of 264,584. The stock's 50 day simple moving average is $19.40 and its two-hundred day simple moving average is $21.30. The company has a market capitalization of $1.49 billion, a P/E ratio of -29.51 and a beta of 1.01. 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 has a 52-week low of $16.49 and a 52-week high of $25.33.

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Insider Buying and Selling

In other MeridianLink news, CEO Nicolaas Vlok sold 29,217 shares of the stock in a transaction dated 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 owns 1,043,382 shares of the company's stock, valued at $23,789,109.60. This trade represents a 2.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 100,845 shares of company stock valued at $2,182,567 in the last ninety days. Company insiders own 21.30% of the company's stock.

Institutional Investors Weigh In On MeridianLink

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Quantbot Technologies LP acquired a new stake in MeridianLink in the fourth quarter valued at $65,000. Summit Investment Advisors Inc. boosted its holdings in MeridianLink by 32.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,421 shares of the company's stock valued at $71,000 after purchasing an additional 830 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in MeridianLink in the fourth quarter valued at approximately $124,000. Millennium Management LLC acquired a new stake in MeridianLink during the fourth quarter worth approximately $201,000. Finally, Woodline Partners LP purchased a new stake in shares of MeridianLink during the 4th quarter worth approximately $219,000. 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.