MeridianLink (NYSE:MLNK) Reaches New 52-Week Low - Here's Why

MeridianLink, Inc. (NYSE:MLNK - Get Free Report)'s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $15.57 and last traded at $15.86, with a volume of 22228 shares changing hands. The stock had previously closed at $16.61.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Raymond James lowered their target price on MeridianLink from $28.00 to $24.00 and set an "outperform" rating for the company in a research note on Friday, March 7th. Citigroup lowered their target price on MeridianLink from $24.00 to $20.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. Bank of America lowered shares of MeridianLink from a "buy" rating to an "underperform" rating and dropped their price target for the company from $28.00 to $18.00 in a research report on Thursday, January 30th. Barclays dropped their price objective on MeridianLink from $20.00 to $19.00 and set an "underweight" rating on the stock in a research note on Friday, March 7th. Finally, UBS Group cut their target price on MeridianLink from $25.50 to $20.50 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $20.58.

MeridianLink Stock Performance

The stock has a market capitalization of $1.27 billion, a PE ratio of -24.81 and a beta of 0.96. The firm has a fifty day moving average price of $18.60 and a two-hundred day moving average price of $20.44. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.86 and a quick ratio of 1.86.

Institutional Trading of MeridianLink

A number of institutional investors have recently modified their holdings of MLNK. Victory Capital Management Inc. purchased a new stake in shares of MeridianLink during the fourth quarter valued at $29,461,000. Western Standard LLC purchased a new position in shares of MeridianLink in the 4th quarter valued at about $7,223,000. Vanguard Group Inc. raised its stake in shares of MeridianLink by 10.5% during the 4th quarter. Vanguard Group Inc. now owns 3,266,023 shares of the company's stock worth $67,443,000 after buying an additional 310,228 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in MeridianLink by 123.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 398,389 shares of the company's stock valued at $8,227,000 after purchasing an additional 220,240 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in MeridianLink by 920.0% in the 4th quarter. JPMorgan Chase & Co. now owns 216,566 shares of the company's stock worth $4,472,000 after buying an additional 195,333 shares during the last quarter. 82.65% of the stock is currently owned by institutional investors.

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.