State Street Corp Boosts Stake in MeridianLink, Inc. (NYSE:MLNK)

State Street Corp boosted its position in shares of MeridianLink, Inc. (NYSE:MLNK) by 20.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 667,201 shares of the company’s stock after acquiring an additional 114,578 shares during the quarter. State Street Corp’s holdings in MeridianLink were worth $13,724,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its position in MeridianLink by 24.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 218,104 shares of the company’s stock worth $4,486,000 after acquiring an additional 42,302 shares during the period. SG Americas Securities LLC acquired a new position in shares of MeridianLink in the third quarter valued at approximately $231,000. Maven Securities LTD purchased a new stake in shares of MeridianLink during the third quarter worth approximately $5,377,000. Seven Grand Managers LLC acquired a new stake in shares of MeridianLink during the third quarter worth $2,057,000. Finally, Dimensional Fund Advisors LP grew its position in MeridianLink by 23.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 797,074 shares of the company’s stock valued at $17,026,000 after buying an additional 150,712 shares during the last quarter. 82.65% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Timothy Nguyen sold 100,000 shares of MeridianLink stock in a transaction on Wednesday, November 13th. The stock was 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 owns 10,928,412 shares of the company’s stock, valued at $256,817,682. The trade was a 0.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Thoma Bravo Ugp, Llc sold 650,000 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was 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 owns 28,932,388 shares in the company, valued at $609,026,767.40. This represents a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,936,488 shares of company stock worth $146,508,238. Company insiders own 21.30% of the company’s stock.

MeridianLink Stock Up 0.9 %

MLNK stock opened at $21.36 on Thursday. 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 company’s 50-day moving average price is $22.45 and its 200 day moving average price is $22.18. MeridianLink, Inc. has a 52 week low of $16.49 and a 52 week high of $25.88. The company has a market cap of $1.61 billion, a P/E ratio of -31.88 and a beta of 0.99.

Wall Street Analyst Weigh In

A number of brokerages have commented on MLNK. Raymond James upped their price objective 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. UBS Group raised shares of MeridianLink from a “sell” rating to a “neutral” rating and increased their price target for the stock from $18.00 to $22.50 in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target 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.