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

MeridianLink, Inc. (NYSE:MLNK) was the target of a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 844,200 shares, a decrease of 27.8% from the October 31st total of 1,170,000 shares. Approximately 3.1% of the shares of the company are short sold. Based on an average daily volume of 367,600 shares, the short-interest ratio is currently 2.3 days.

Insider Activity at MeridianLink

In other MeridianLink news, major shareholder Timothy Nguyen sold 10,776 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $23.02, for a total transaction of $248,063.52. Following the completion of the transaction, the insider now owns 10,751,935 shares in the company, valued at $247,509,543.70. This trade represents a 0.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Thoma Bravo Ugp, Llc sold 650,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $21.05, for a total transaction of $13,682,500.00. Following the completion of the sale, the insider now directly owns 28,932,388 shares in the company, valued at approximately $609,026,767.40. This trade represents a 2.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,760,776 shares of company stock worth $142,580,564. Insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On MeridianLink

A number of institutional investors have recently added to or reduced their stakes in MLNK. Barclays PLC lifted its position in MeridianLink by 342.1% during the third quarter. Barclays PLC now owns 42,399 shares of the company’s stock valued at $872,000 after purchasing an additional 32,808 shares during the last quarter. Geode Capital Management LLC raised its position in shares of MeridianLink by 12.2% during the 3rd quarter. Geode Capital Management LLC now owns 603,443 shares of the company’s stock valued at $12,415,000 after buying an additional 65,834 shares in the last quarter. State Street Corp raised its position in shares of MeridianLink by 20.7% during the 3rd quarter. State Street Corp now owns 667,201 shares of the company’s stock valued at $13,724,000 after buying an additional 114,578 shares in the last quarter. Polar Asset Management Partners Inc. bought a new stake in shares of MeridianLink during the 3rd quarter worth $8,598,000. Finally, Maven Securities LTD purchased a new position in MeridianLink in the third quarter worth $5,377,000. 82.65% of the stock is currently owned by institutional investors.

MeridianLink Price Performance

Shares of MeridianLink stock traded up $0.43 during trading on Friday, hitting $23.35. The stock had a trading volume of 165,826 shares, compared to its average volume of 388,198. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 1.11. MeridianLink has a 12 month low of $16.49 and a 12 month high of $25.88. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of -34.85 and a beta of 0.98. The business’s 50-day moving average is $22.03 and its 200 day moving average is $21.74.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MLNK. Stifel Nicolaus lifted their price objective 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. UBS Group upgraded MeridianLink from a “sell” rating to a “neutral” rating and lifted their price target for the company from $18.00 to $22.50 in a research report on Monday, November 11th. Raymond James increased their price objective on MeridianLink from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Barclays raised their target price on MeridianLink from $18.00 to $20.00 and gave the stock an “underweight” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $22.90.

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.