MeridianLink (NYSE:MLNK) Raised to “Neutral” at UBS Group

UBS Group upgraded shares of MeridianLink (NYSE:MLNK) from a sell rating to a neutral rating in a report issued on Monday, MarketBeat.com reports. They currently have $22.50 price target on the stock, up from their prior price target of $18.00.

Several other brokerages have also recently commented on MLNK. Barclays boosted their target price on shares of MeridianLink from $18.00 to $20.00 and gave the company an “underweight” rating in a research report on Friday, August 9th. Stifel Nicolaus upped their price objective on MeridianLink from $18.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Finally, Raymond James boosted their target price on MeridianLink from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $22.90.

MeridianLink Trading Down 2.6 %

Shares of NYSE:MLNK opened at $22.70 on Monday. The business’s 50 day simple moving average is $22.25 and its 200 day simple moving average is $21.27. MeridianLink has a 1 year low of $16.49 and a 1 year high of $25.88. 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 market capitalization of $1.71 billion, a P/E ratio of -34.77 and a beta of 0.98.

Insider Activity

In other news, major shareholder Thoma Bravo Ugp, Llc sold 650,000 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $21.05, for a total value of $13,682,500.00. Following the completion of the sale, the insider now owns 28,932,388 shares of the company’s stock, valued at approximately $609,026,767.40. This represents a 2.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On MeridianLink

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC raised its holdings in MeridianLink by 5.1% during the 3rd quarter. FMR LLC now owns 23,408 shares of the company’s stock worth $482,000 after purchasing an additional 1,139 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in 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 buying an additional 1,490 shares during the last quarter. nVerses Capital LLC acquired a new position in MeridianLink in the second quarter valued at $41,000. Rhumbline Advisers boosted its position in MeridianLink by 6.4% during the second quarter. Rhumbline Advisers now owns 43,865 shares of the company’s stock valued at $937,000 after acquiring an additional 2,633 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings 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 acquiring an additional 3,226 shares during the period. 82.65% of the stock is owned by institutional investors and hedge funds.

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.