Insider Selling: MeridianLink, Inc. (NYSE:MLNK) Major Shareholder Sells 100,000 Shares of Stock

MeridianLink, Inc. (NYSE:MLNK) major shareholder Timothy Nguyen sold 100,000 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $23.50, for a total transaction of $2,350,000.00. Following the completion of the transaction, the insider now directly owns 10,928,412 shares of the company’s stock, valued at $256,817,682. This represents a 0.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

MeridianLink Price Performance

Shares of NYSE:MLNK opened at $22.02 on Monday. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $1.66 billion, a PE ratio of -32.87 and a beta of 0.98. The firm has a 50 day moving average of $22.24 and a 200-day moving average of $21.38. MeridianLink, Inc. has a 12 month low of $16.49 and a 12 month high of $25.88.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on MLNK shares. Stifel Nicolaus increased their target price on MeridianLink from $18.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. UBS Group raised shares of MeridianLink from a “sell” rating to a “neutral” rating and raised their price target for the stock from $18.00 to $22.50 in a research report on Monday, November 11th. Raymond James increased their target price on shares of MeridianLink from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Barclays increased their price target on MeridianLink from $18.00 to $20.00 and gave the stock an “underweight” rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, MeridianLink has an average rating of “Hold” and a consensus target price of $22.90.

Institutional Investors Weigh In On MeridianLink

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