MeridianLink (NYSE:MLNK) Shares Down 4.8% – Here’s What Happened

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

Analyst Upgrades and Downgrades

MLNK has been the subject of several research analyst reports. Citigroup lowered their target price on MeridianLink from $24.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Raymond James dropped their price objective on shares of MeridianLink from $28.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. William Blair reaffirmed an “outperform” rating on shares of MeridianLink in a research note on Friday, March 7th. Barclays dropped their price target on MeridianLink from $20.00 to $19.00 and set an “underweight” rating for the company in a research note on Friday, March 7th. Finally, UBS Group dropped their target price on MeridianLink from $25.50 to $20.50 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $20.58.

MeridianLink Stock Down 3.1 %

The stock has a 50-day moving average price of $19.24 and a 200-day moving average price of $20.87. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.86 and a quick ratio of 1.86. The company has a market capitalization of $1.39 billion, a P/E ratio of -27.12 and a beta of 1.01.

Institutional Investors Weigh In On MeridianLink

Institutional investors and hedge funds have recently made changes to their positions in the business. Quantbot Technologies LP bought a new stake in MeridianLink in the fourth quarter valued at $65,000. Summit Investment Advisors Inc. raised its stake in MeridianLink by 32.0% during the 4th 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. KLP Kapitalforvaltning AS bought a new position in MeridianLink in the fourth quarter worth approximately $124,000. Millennium Management LLC bought a new stake in shares of MeridianLink during the fourth quarter valued at approximately $201,000. Finally, Woodline Partners LP acquired a new position in shares of MeridianLink during the fourth quarter worth approximately $219,000. 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.