MeridianLink (NYSE:MLNK) Given New $20.00 Price Target at Citigroup

MeridianLink (NYSE:MLNK) had its target price cut by Citigroup from $24.00 to $20.00 in a report published on Friday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages have also recently weighed in on MLNK. William Blair reaffirmed an “outperform” rating on shares of MeridianLink in a research report on Friday. Raymond James reduced their target price on shares of MeridianLink from $28.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday. Barclays lowered their price target on MeridianLink from $20.00 to $19.00 and set an “underweight” rating for the company in a report on Friday. Bank of America cut MeridianLink from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $28.00 to $18.00 in a research note on Thursday, January 30th. Finally, UBS Group decreased their target price on MeridianLink from $25.50 to $20.50 and set a “neutral” rating for the company in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, MeridianLink presently has a consensus rating of “Hold” and a consensus target price of $20.58.

MeridianLink Stock Performance

MeridianLink stock opened at $21.58 on Friday. The company has a market cap of $1.63 billion, a price-to-earnings ratio of -32.20 and a beta of 1.01. MeridianLink has a 12 month low of $16.49 and a 12 month high of $25.33. 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 stock’s 50-day moving average is $19.39 and its 200-day moving average is $21.32.

Insiders Place Their Bets

In other MeridianLink news, CEO Nicolaas Vlok sold 29,217 shares of MeridianLink stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $22.80, for a total transaction of $666,147.60. Following the sale, the chief executive officer now directly owns 1,043,382 shares in the company, valued at $23,789,109.60. The trade was a 2.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Timothy Nguyen sold 5,666 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 10,619,126 shares of the company’s stock, valued at approximately $244,346,089.26. This trade represents a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 106,511 shares of company stock worth $2,312,942 in the last quarter. 21.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MeridianLink

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

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.