Raymond James Has Lowered Expectations for MeridianLink (NYSE:MLNK) Stock Price

MeridianLink (NYSE:MLNK) had its price target reduced by investment analysts at Raymond James from $28.00 to $24.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Raymond James’ target price would indicate a potential upside of 11.23% from the stock’s previous close.

Several other research firms also recently commented on MLNK. UBS Group dropped their price target on shares of MeridianLink from $25.50 to $20.50 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Barclays dropped their price target on shares of MeridianLink from $20.00 to $19.00 and set an “underweight” rating for the company in a research note on Friday. Finally, Bank of America downgraded shares of MeridianLink from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $28.00 to $18.00 in a research note on Thursday, January 30th. 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $20.58.

MeridianLink Stock Up 17.1 %

Shares of NYSE MLNK opened at $21.58 on Friday. The business’s 50 day moving average is $19.40 and its two-hundred day moving average is $21.31. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of -32.20 and a beta of 1.01. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 1.11. MeridianLink has a 52-week low of $16.49 and a 52-week high of $25.33.

Insider Buying and Selling

In other MeridianLink news, major shareholder Timothy Nguyen sold 5,666 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $23.01, for a total value of $130,374.66. Following the completion of the transaction, the insider now owns 10,619,126 shares in the company, valued at $244,346,089.26. This represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Nicolaas Vlok sold 71,598 shares of the company’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $21.17, for a total transaction of $1,515,729.66. Following the completion of the transaction, the chief executive officer now owns 1,043,382 shares of the company’s stock, valued at $22,088,396.94. This represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 106,511 shares of company stock worth $2,312,942. Corporate insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On MeridianLink

Large investors have recently bought and sold shares of the stock. Quantbot Technologies LP acquired a new position in MeridianLink in the fourth quarter valued at $65,000. Summit Investment Advisors Inc. boosted its stake in MeridianLink by 32.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,421 shares of the company’s stock valued at $71,000 after acquiring an additional 830 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of MeridianLink in the fourth quarter valued at about $124,000. Millennium Management LLC purchased a new stake in shares of MeridianLink in the fourth quarter valued at about $201,000. Finally, Woodline Partners LP purchased a new stake in shares of MeridianLink in the fourth quarter valued at about $219,000. Institutional investors and hedge funds 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.