MeridianLink, Inc. (NYSE:MLNK) Major Shareholder Sells $2,350,000.00 in Stock

MeridianLink, Inc. (NYSE:MLNK) major shareholder Timothy Nguyen sold 100,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $23.50, for a total transaction of $2,350,000.00. Following the sale, the insider now directly owns 10,928,412 shares in the company, valued at $256,817,682. This trade represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

MeridianLink Trading Down 3.0 %

MLNK opened at $22.02 on Monday. The firm’s fifty day moving average is $22.24 and its two-hundred day moving average is $21.38. The firm has a market cap of $1.66 billion, a PE ratio of -32.87 and a beta of 0.98. MeridianLink, Inc. has a twelve month low of $16.49 and a twelve month high of $25.88. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.86 and a current ratio of 1.86.

Institutional Trading of MeridianLink

Several hedge funds have recently added to or reduced their stakes in the business. nVerses Capital LLC bought a new stake in shares of MeridianLink in the second quarter worth about $41,000. SG Americas Securities LLC acquired a new position in shares of MeridianLink in the 3rd quarter valued at approximately $231,000. Russell Investments Group Ltd. increased its stake in MeridianLink by 26.4% during the 1st quarter. Russell Investments Group Ltd. now owns 15,430 shares of the company’s stock worth $289,000 after purchasing an additional 3,226 shares in the last quarter. Squarepoint Ops LLC bought a new position in MeridianLink in the second quarter valued at approximately $336,000. Finally, The Manufacturers Life Insurance Company increased its position in shares of MeridianLink by 10.1% during the second quarter. The Manufacturers Life Insurance Company now owns 16,218 shares of the company’s stock worth $346,000 after acquiring an additional 1,490 shares in the last quarter. Institutional investors and hedge funds own 82.65% of the company’s stock.

Wall Street Analysts Forecast Growth

MLNK has been the topic of a number of recent research reports. Raymond James increased their price objective on MeridianLink from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. UBS Group upgraded MeridianLink from a “sell” rating to a “neutral” rating and raised their price target for the company from $18.00 to $22.50 in a report on Monday, November 11th. Barclays boosted their price objective on MeridianLink from $18.00 to $20.00 and gave the stock an “underweight” rating in a report on Friday, August 9th. Finally, Stifel Nicolaus raised their target price on shares of MeridianLink from $18.00 to $22.00 and gave the company a “hold” rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $22.90.

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.