MeridianLink (NYSE:MLNK) Cut to Underperform at Bank of America

MeridianLink (NYSE:MLNK) was downgraded by research analysts at Bank of America from a “buy” rating to an “underperform” rating in a report released on Thursday, Marketbeat reports. They presently have a $18.00 price target on the stock, down from their previous price target of $28.00. Bank of America‘s target price points to a potential downside of 13.71% from the company’s previous close.

MLNK has been the topic of several other reports. Raymond James lifted their price objective on shares of MeridianLink from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, November 8th. UBS Group upgraded MeridianLink from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $18.00 to $22.50 in a research note on Monday, November 11th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.08.

MeridianLink Price Performance

MLNK opened at $20.86 on Thursday. The business has a fifty day moving average of $21.28 and a 200 day moving average of $21.99. The stock has a market cap of $1.58 billion, a P/E ratio of -31.13 and a beta of 1.02. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 1.11. MeridianLink has a 52-week low of $16.49 and a 52-week high of $25.33.

MeridianLink (NYSE:MLNK) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.17). The company had revenue of $80.37 million during the quarter, compared to analysts’ expectations of $79.54 million. MeridianLink had a negative return on equity of 9.57% and a negative net margin of 16.57%. As a group, sell-side analysts anticipate that MeridianLink will post -0.35 EPS for the current year.

Insider Activity at MeridianLink

In other MeridianLink news, CEO Nicolaas Vlok sold 71,598 shares of the stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $21.17, for a total transaction of $1,515,729.66. Following the completion of the transaction, the chief executive officer now owns 1,043,382 shares of the company’s stock, valued at $22,088,396.94. This represents a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Timothy Nguyen sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $23.50, for a total value of $2,350,000.00. Following the completion of the transaction, the insider now owns 10,928,412 shares in the company, valued at approximately $256,817,682. This trade represents a 0.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 286,488 shares of company stock worth $6,525,738 in the last three months. Company insiders own 21.30% of the company’s stock.

Institutional Trading of MeridianLink

Large investors have recently bought and sold shares of the business. SG Americas Securities LLC raised its holdings in shares of MeridianLink by 94.9% during the 4th quarter. SG Americas Securities LLC now owns 21,878 shares of the company’s stock worth $452,000 after acquiring an additional 10,654 shares during the period. Barclays PLC increased its position in MeridianLink by 342.1% during the third quarter. Barclays PLC now owns 42,399 shares of the company’s stock worth $872,000 after purchasing an additional 32,808 shares during the last quarter. Geode Capital Management LLC raised its stake in MeridianLink by 12.2% during the third quarter. Geode Capital Management LLC now owns 603,443 shares of the company’s stock worth $12,415,000 after purchasing an additional 65,834 shares during the period. State Street Corp boosted its holdings in MeridianLink by 20.7% in the 3rd quarter. State Street Corp now owns 667,201 shares of the company’s stock valued at $13,724,000 after purchasing an additional 114,578 shares during the last quarter. Finally, Polar Asset Management Partners Inc. purchased a new stake in shares of MeridianLink in the 3rd quarter valued at approximately $8,598,000. Hedge funds and other institutional investors own 82.65% of the company’s stock.

MeridianLink Company Profile

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.