MeridianLink (NYSE:MLNK) Shares Down 4.8% – What’s Next?

MeridianLink, Inc. (NYSE:MLNK)’s share price was down 4.8% during mid-day trading on Wednesday . The stock traded as low as $17.81 and last traded at $17.86. Approximately 65,677 shares traded hands during trading, a decline of 71% from the average daily volume of 227,508 shares. The stock had previously closed at $18.76.

Analyst Upgrades and Downgrades

MLNK has been the topic of a number of analyst reports. UBS Group cut their price objective on shares of MeridianLink from $25.50 to $20.50 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. William Blair reissued an “outperform” rating on shares of MeridianLink in a research report on Friday, March 7th. Bank of America lowered MeridianLink from a “buy” rating to an “underperform” rating and lowered their target price for the company from $28.00 to $18.00 in a research note on Thursday, January 30th. Barclays dropped their price target on shares of MeridianLink from $20.00 to $19.00 and set an “underweight” rating on the stock in a research note on Friday, March 7th. Finally, Raymond James cut their price objective 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 equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, MeridianLink currently has an average rating of “Hold” and a consensus price target of $20.58.

MeridianLink Stock Down 3.1 %

The company has a market cap of $1.39 billion, a P/E ratio of -27.12 and a beta of 1.01. The stock has a 50-day moving average of $19.24 and a two-hundred day moving average of $20.87. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.86 and a current ratio of 1.86.

Hedge Funds Weigh In On MeridianLink

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of MeridianLink by 10.5% during the fourth quarter. Vanguard Group Inc. now owns 3,266,023 shares of the company’s stock valued at $67,443,000 after buying an additional 310,228 shares during the last quarter. Victory Capital Management Inc. purchased a new position in MeridianLink in the 4th quarter worth approximately $29,461,000. Dimensional Fund Advisors LP boosted its stake in shares of MeridianLink by 12.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 986,105 shares of the company’s stock valued at $20,363,000 after purchasing an additional 107,349 shares during the period. Geode Capital Management LLC grew its holdings in shares of MeridianLink by 11.4% in the fourth quarter. Geode Capital Management LLC now owns 672,526 shares of the company’s stock worth $13,890,000 after purchasing an additional 69,083 shares during the last quarter. Finally, State Street Corp raised its holdings in MeridianLink by 20.7% during the 3rd quarter. State Street Corp now owns 667,201 shares of the company’s stock valued at $13,724,000 after buying an additional 114,578 shares during the last quarter. Institutional investors own 82.65% of the company’s stock.

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.