MeridianLink (NYSE:MLNK) Shares Down 4.8% - Should You Sell?

MeridianLink, Inc. (NYSE:MLNK - Get Free Report) traded down 4.8% during trading on Wednesday . The stock traded as low as $17.81 and last traded at $17.86. 65,677 shares were traded during mid-day trading, a decline of 71% from the average session volume of 227,508 shares. The stock had previously closed at $18.76.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MLNK shares. Bank of America cut shares of MeridianLink from a "buy" rating to an "underperform" rating and dropped their target price for the company from $28.00 to $18.00 in a report on Thursday, January 30th. Barclays reduced their price objective on MeridianLink from $20.00 to $19.00 and set an "underweight" rating for the company in a report on Friday, March 7th. William Blair reaffirmed an "outperform" rating on shares of MeridianLink in a research note on Friday, March 7th. Citigroup lowered their price objective on shares of MeridianLink from $24.00 to $20.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. Finally, Raymond James cut their target price on shares of MeridianLink from $28.00 to $24.00 and set an "outperform" rating for the company in a research report on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $20.58.

MeridianLink Stock Performance

The stock's fifty day simple moving average is $19.08 and its 200-day simple moving average is $20.74. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.86 and a current ratio of 1.86. The company has a market capitalization of $1.26 billion, a PE ratio of -24.50 and a beta of 0.96.

Hedge Funds Weigh In On MeridianLink

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its holdings in shares of MeridianLink by 3,916.8% in the 1st quarter. GAMMA Investing LLC now owns 20,124 shares of the company's stock valued at $373,000 after purchasing an additional 19,623 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of MeridianLink by 28.4% in the 4th quarter. California State Teachers Retirement System now owns 28,312 shares of the company's stock valued at $585,000 after purchasing an additional 6,268 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in MeridianLink by 47.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 33,167 shares of the company's stock worth $685,000 after purchasing an additional 10,600 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in MeridianLink by 46.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,440 shares of the company's stock valued at $1,496,000 after buying an additional 22,858 shares during the period. Finally, Western Standard LLC acquired a new position in MeridianLink during the fourth quarter valued at approximately $7,223,000. 82.65% of the stock is currently owned by hedge funds and other 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.