MeridianLink (NYSE:MLNK) Stock Rating Upgraded by UBS Group

UBS Group upgraded shares of MeridianLink (NYSE:MLNK - Free Report) from a sell rating to a neutral rating in a report issued on Monday morning, Marketbeat Ratings reports. The firm currently has $22.50 price objective on the stock, up from their prior price objective of $18.00.

MLNK has been the subject of several other reports. Raymond James boosted their price objective on MeridianLink from $26.00 to $28.00 and gave the stock an "outperform" rating in a research report on Friday. Stifel Nicolaus boosted their price target on MeridianLink from $18.00 to $22.00 and gave the stock a "hold" rating in a research report on Friday, August 9th. Finally, Barclays raised their price target on MeridianLink from $18.00 to $20.00 and gave the company an "underweight" rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $22.90.

MeridianLink Stock Performance

MLNK traded up $0.94 during trading on Monday, reaching $25.03. 256,926 shares of the company were exchanged, compared to its average volume of 271,037. MeridianLink has a 52 week low of $16.49 and a 52 week high of $25.88. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 1.06. The firm has a 50 day moving average of $22.17 and a 200 day moving average of $21.16. The stock has a market cap of $1.90 billion, a P/E ratio of -35.96 and a beta of 0.98.

MeridianLink (NYSE:MLNK - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.04). MeridianLink had a negative net margin of 16.57% and a negative return on equity of 9.30%. The firm had revenue of $78.70 million during the quarter, compared to the consensus estimate of $78.08 million. During the same quarter in the prior year, the business earned ($0.06) earnings per share. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. On average, sell-side analysts forecast that MeridianLink will post -0.27 EPS for the current fiscal year.

Insider Transactions at MeridianLink

In related news, major shareholder Thoma Bravo Ugp, Llc sold 6,000,000 shares of MeridianLink stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $21.05, for a total transaction of $126,300,000.00. Following the transaction, the insider now directly owns 29,582,388 shares of the company's stock, valued at $622,709,267.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 21.30% of the company's stock.

Institutional Investors Weigh In On MeridianLink

A number of institutional investors and hedge funds have recently modified their holdings of MLNK. nVerses Capital LLC purchased a new position in MeridianLink in the 2nd quarter worth about $41,000. SG Americas Securities LLC purchased a new stake in shares of MeridianLink in the 3rd quarter valued at approximately $231,000. Russell Investments Group Ltd. boosted its stake in MeridianLink by 26.4% in the 1st quarter. Russell Investments Group Ltd. now owns 15,430 shares of the company's stock worth $289,000 after purchasing an additional 3,226 shares during the period. Squarepoint Ops LLC purchased a new position in MeridianLink during the 2nd quarter worth approximately $336,000. Finally, The Manufacturers Life Insurance Company raised its stake in MeridianLink by 10.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,218 shares of the company's stock valued at $346,000 after purchasing an additional 1,490 shares during the period. 82.65% of the stock is 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.