MeridianLink, Inc. (NYSE:MLNK) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in shares of MeridianLink, Inc. (NYSE:MLNK) by 12.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 603,443 shares of the company’s stock after purchasing an additional 65,834 shares during the period. Geode Capital Management LLC’s holdings in MeridianLink were worth $12,415,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of MLNK. nVerses Capital LLC purchased a new stake in MeridianLink during the 2nd quarter valued at about $41,000. SG Americas Securities LLC purchased a new stake in MeridianLink during the 3rd quarter valued at about $231,000. Squarepoint Ops LLC purchased a new stake in MeridianLink during the 2nd quarter valued at about $336,000. The Manufacturers Life Insurance Company grew its stake in MeridianLink by 10.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,218 shares of the company’s stock valued at $346,000 after acquiring an additional 1,490 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in MeridianLink during the 2nd quarter valued at about $360,000. Institutional investors and hedge funds own 82.65% of the company’s stock.

MeridianLink Stock Performance

MeridianLink stock opened at $20.70 on Tuesday. The firm has a 50 day simple moving average of $22.44 and a 200-day simple moving average of $22.20. MeridianLink, Inc. has a 1-year low of $16.49 and a 1-year 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 has a market cap of $1.56 billion, a price-to-earnings ratio of -30.90 and a beta of 0.99.

Analysts Set New Price Targets

Several analysts recently issued reports on MLNK shares. UBS Group raised shares of MeridianLink from a “sell” rating to a “neutral” rating and upped their price objective for the company from $18.00 to $22.50 in a research note on Monday, November 11th. Raymond James upped their price objective on shares of MeridianLink from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, MeridianLink has an average rating of “Hold” and an average price target of $22.90.

Insider Activity

In related news, major shareholder Timothy Nguyen sold 100,000 shares of the stock in a transaction that occurred 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 owns 10,928,412 shares of the company’s stock, valued at approximately $256,817,682. This trade represents a 0.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Nicolaas Vlok sold 29,217 shares of the 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 transaction, the chief executive officer now directly owns 1,043,382 shares of the company’s stock, valued at $23,789,109.60. The trade was a 2.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 936,488 shares of company stock valued at $20,208,238 in the last 90 days. Company insiders own 21.30% 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.