MeridianLink (NYSE:MLNK) Sets New 12-Month Low – Here’s What Happened

MeridianLink, Inc. (NYSE:MLNK)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as $15.57 and last traded at $15.86, with a volume of 22228 shares trading hands. The stock had previously closed at $16.61.

Wall Street Analyst Weigh In

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

MeridianLink Stock Performance

The company has a market cap of $1.27 billion, a price-to-earnings ratio of -24.73 and a beta of 0.96. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.86 and a current ratio of 1.86. The company has a fifty day moving average of $19.08 and a two-hundred day moving average of $20.74.

Institutional Trading of MeridianLink

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new stake in shares of MeridianLink during the fourth quarter worth about $65,000. Summit Investment Advisors Inc. boosted 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 valued at $71,000 after purchasing an additional 830 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in MeridianLink during the 4th quarter worth approximately $124,000. Millennium Management LLC bought a new position in shares of MeridianLink in the fourth quarter valued at approximately $201,000. Finally, Woodline Partners LP purchased a new position in shares of MeridianLink during the fourth quarter valued at approximately $219,000. 82.65% of the stock is 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.