UBS Group Has Lowered Expectations for MeridianLink (NYSE:MLNK) Stock Price

MeridianLink (NYSE:MLNK) had its price objective reduced by investment analysts at UBS Group from $25.50 to $20.50 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s target price suggests a potential upside of 13.38% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Bank of America cut shares of MeridianLink from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $28.00 to $18.00 in a research report on Thursday, January 30th. Raymond James lifted their target price on MeridianLink from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $21.75.

MeridianLink Price Performance

MLNK traded down $0.02 on Tuesday, hitting $18.08. 59,931 shares of the company’s stock traded hands, compared to its average volume of 260,629. The company’s 50 day simple moving average is $19.57 and its 200-day simple moving average is $21.38. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 1.11. MeridianLink has a one year low of $16.49 and a one year high of $25.33. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of -26.98 and a beta of 1.00.

Insiders Place Their Bets

In related news, major shareholder Timothy Nguyen sold 27,500 shares of MeridianLink stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $23.43, for a total value of $644,325.00. Following the completion of the sale, the insider now directly owns 10,640,130 shares in the company, valued at $249,298,245.90. The trade was a 0.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Nicolaas Vlok sold 71,598 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 1,043,382 shares in the company, valued at approximately $22,088,396.94. The trade was a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 134,011 shares of company stock worth $2,957,267 in the last three months. Corporate insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On MeridianLink

A number of hedge funds and other institutional investors have recently modified their holdings of MLNK. Victory Capital Management Inc. purchased a new position in MeridianLink in the fourth quarter valued at about $29,461,000. Polar Asset Management Partners Inc. purchased a new position in shares of MeridianLink during the 3rd quarter valued at about $8,598,000. Western Standard LLC acquired a new position in shares of MeridianLink in the 4th quarter valued at $7,223,000. Vanguard Group Inc. boosted its position in MeridianLink by 10.5% during the fourth quarter. Vanguard Group Inc. now owns 3,266,023 shares of the company’s stock worth $67,443,000 after purchasing an additional 310,228 shares in the last quarter. Finally, Maven Securities LTD acquired a new stake in MeridianLink in the 3rd quarter valued at $5,377,000. 82.65% of the stock is currently owned by institutional investors.

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.