MeridianLink (NYSE:MLNK) Sets New 12-Month Low – Time to Sell?

MeridianLink, Inc. (NYSE:MLNK) reached a new 52-week low 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 Analysts Forecast Growth

A number of equities analysts have recently issued reports on MLNK shares. Barclays cut their price objective on MeridianLink from $20.00 to $19.00 and set an “underweight” rating for the company in a report on Friday, March 7th. Citigroup decreased their price target on shares of MeridianLink from $24.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. UBS Group cut their price target on shares of MeridianLink from $25.50 to $20.50 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Bank of America cut 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 note on Thursday, January 30th. Finally, Raymond James lowered their target price on MeridianLink from $28.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $20.58.

MeridianLink Stock Down 1.9 %

The company has a market capitalization of $1.24 billion, a P/E ratio of -24.08 and a beta of 0.96. 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 50 day moving average of $18.81 and a 200-day moving average of $20.59.

Hedge Funds Weigh In On MeridianLink

Several hedge funds have recently made changes to their positions in the business. Quantbot Technologies LP purchased a new stake in MeridianLink in the fourth quarter worth $65,000. Summit Investment Advisors Inc. raised its holdings in MeridianLink by 32.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,421 shares of the company’s stock worth $71,000 after purchasing an additional 830 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of MeridianLink in the 4th quarter worth about $124,000. Millennium Management LLC bought a new stake in shares of MeridianLink during the 4th quarter valued at about $201,000. Finally, Woodline Partners LP purchased a new position in shares of MeridianLink during the fourth quarter valued at about $219,000. 82.65% of the stock is owned by hedge funds and other institutional investors.

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.