MeridianLink, Inc. (NYSE:MLNK) Sees Significant Decline in Short Interest

MeridianLink, Inc. (NYSE:MLNK) saw a large drop in short interest in the month of August. As of August 15th, there was short interest totaling 1,180,000 shares, a drop of 22.4% from the July 31st total of 1,520,000 shares. Based on an average daily trading volume, of 685,400 shares, the short-interest ratio is presently 1.7 days. Approximately 4.0% of the company’s stock are sold short. Approximately 4.0% of the company’s stock are sold short. Based on an average daily trading volume, of 685,400 shares, the short-interest ratio is presently 1.7 days.

MeridianLink Price Performance

Shares of NYSE:MLNK opened at $20.00 on Wednesday. The company’s fifty day moving average price is $17.95 and its 200 day moving average price is $17.55. MeridianLink has a 12 month low of $15.49 and a 12 month high of $25.33. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.01 and a quick ratio of 2.01. The firm has a market capitalization of $1.48 billion, a P/E ratio of -68.95 and a beta of 0.93.

MeridianLink (NYSE:MLNK) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.13). MeridianLink had a negative return on equity of 4.50% and a negative net margin of 6.90%.The company had revenue of $84.60 million for the quarter, compared to analyst estimates of $81.58 million. During the same quarter in the prior year, the business earned $0.04 earnings per share. MeridianLink’s revenue was up 7.5% compared to the same quarter last year. As a group, sell-side analysts predict that MeridianLink will post -0.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MeridianLink

Several hedge funds and other institutional investors have recently bought and sold shares of MLNK. Price T Rowe Associates Inc. MD acquired a new stake in MeridianLink during the 4th quarter worth $263,000. Northern Trust Corp raised its stake in MeridianLink by 9.8% during the 4th quarter. Northern Trust Corp now owns 480,827 shares of the company’s stock worth $9,929,000 after acquiring an additional 42,877 shares in the last quarter. Ameriprise Financial Inc. increased its stake in MeridianLink by 81.6% in the fourth quarter. Ameriprise Financial Inc. now owns 96,863 shares of the company’s stock valued at $2,000,000 after purchasing an additional 43,523 shares during the period. BNP Paribas Financial Markets acquired a new position in MeridianLink in the fourth quarter valued at $1,335,000. Finally, Cubist Systematic Strategies LLC acquired a new position in MeridianLink in the fourth quarter valued at $815,000. 82.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on MLNK shares. Stifel Nicolaus decreased their price target on shares of MeridianLink from $20.00 to $18.00 and set a “hold” rating for the company in a research report on Tuesday, May 13th. BTIG Research cut shares of MeridianLink from a “strong-buy” rating to a “neutral” rating in a research report on Monday, August 11th. Barclays raised their price target on shares of MeridianLink from $16.00 to $20.00 and gave the company an “underweight” rating in a research report on Tuesday, August 12th. Raymond James Financial cut shares of MeridianLink from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, August 12th. Finally, William Blair cut shares of MeridianLink from an “outperform” rating to a “market perform” rating in a research report on Monday, August 11th. Six equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, MeridianLink currently has an average rating of “Reduce” and an average target price of $20.07.

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.