MeridianLink (NYSE:MLNK - Get Free Report) had its target price decreased by research analysts at UBS Group from $25.50 to $20.50 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. UBS Group's target price would indicate a potential downside of 4.99% from the company's current price.
Other research analysts also recently issued research reports about the stock. Bank of America downgraded shares of MeridianLink from a "buy" rating to an "underperform" rating and decreased their price objective for the stock from $28.00 to $18.00 in a research report on Thursday, January 30th. Raymond James upped their price target on MeridianLink from $26.00 to $28.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, MeridianLink presently has a consensus rating of "Hold" and a consensus price target of $20.58.
Read Our Latest Stock Analysis on MeridianLink
MeridianLink Stock Performance
MLNK traded up $3.15 during midday trading on Tuesday, hitting $21.58. 731,417 shares of the company were exchanged, compared to its average volume of 264,459. The company's 50 day simple moving average is $19.39 and its 200 day simple moving average is $21.32. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of -32.20 and a beta of 1.01. MeridianLink has a 1-year low of $16.49 and a 1-year high of $25.33. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 1.11.
Insider Buying and Selling at MeridianLink
In related news, major shareholder Timothy Nguyen sold 5,666 shares of the business's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $23.01, for a total value of $130,374.66. Following the completion of the sale, the insider now directly owns 10,619,126 shares of the company's stock, valued at $244,346,089.26. The trade was a 0.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Nicolaas Vlok sold 71,598 shares of the company's stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $21.17, for a total value of $1,515,729.66. Following the completion of the sale, the chief executive officer now directly owns 1,043,382 shares of the company's stock, valued at approximately $22,088,396.94. This trade represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 106,511 shares of company stock worth $2,312,942 over the last ninety days. Corporate insiders own 21.30% of the company's stock.
Institutional Investors Weigh In On MeridianLink
Several hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. grew its stake in shares of MeridianLink by 5.0% during the 4th quarter. Russell Investments Group Ltd. now owns 16,704 shares of the company's stock worth $345,000 after purchasing an additional 802 shares during the period. Summit Investment Advisors Inc. grew its position in MeridianLink by 32.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,421 shares of the company's stock worth $71,000 after buying an additional 830 shares during the period. Legal & General Group Plc increased its holdings in MeridianLink by 3.3% in the fourth quarter. Legal & General Group Plc now owns 30,905 shares of the company's stock valued at $638,000 after buying an additional 987 shares in the last quarter. FMR LLC lifted its position in shares of MeridianLink by 5.1% during the 3rd quarter. FMR LLC now owns 23,408 shares of the company's stock valued at $482,000 after acquiring an additional 1,139 shares during the period. Finally, Corebridge Financial Inc. boosted its stake in shares of MeridianLink by 12.8% during the 4th quarter. Corebridge Financial Inc. now owns 16,260 shares of the company's stock worth $336,000 after acquiring an additional 1,839 shares in the last quarter. 82.65% of the stock is owned by institutional investors and hedge funds.
About MeridianLink
(
Get Free Report)
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.
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