Citigroup Cuts MeridianLink (NYSE:MLNK) Price Target to $20.00

MeridianLink (NYSE:MLNK) had its price objective trimmed by Citigroup from $24.00 to $20.00 in a report published on Friday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

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

MeridianLink Trading Up 17.1 %

MeridianLink stock opened at $21.58 on Friday. MeridianLink has a 52-week low of $16.49 and a 52-week high of $25.33. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of -32.20 and a beta of 1.01. The firm has a 50-day moving average price of $19.39 and a two-hundred day moving average price of $21.32.

Insider Activity at MeridianLink

In other MeridianLink news, major shareholder Timothy Nguyen sold 5,666 shares of the company’s stock in a transaction on Monday, December 9th. The stock was 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 represents a 0.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nicolaas Vlok sold 71,598 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $21.17, for a total value of $1,515,729.66. Following the sale, the chief executive officer now directly owns 1,043,382 shares of the company’s stock, valued at approximately $22,088,396.94. This represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 106,511 shares of company stock valued at $2,312,942 over the last 90 days. 21.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MeridianLink

Several hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. increased its stake in MeridianLink by 5.0% in the 4th quarter. Russell Investments Group Ltd. now owns 16,704 shares of the company’s stock worth $345,000 after purchasing an additional 802 shares in the last quarter. Summit Investment Advisors Inc. boosted its holdings in shares of MeridianLink by 32.0% in the fourth 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 period. Legal & General Group Plc increased its position in shares of MeridianLink by 3.3% in the fourth quarter. Legal & General Group Plc now owns 30,905 shares of the company’s stock worth $638,000 after acquiring an additional 987 shares in the last quarter. FMR LLC raised its holdings in shares of MeridianLink by 5.1% during the third quarter. FMR LLC now owns 23,408 shares of the company’s stock valued at $482,000 after acquiring an additional 1,139 shares during the period. Finally, Corebridge Financial Inc. lifted its position in shares of MeridianLink by 12.8% in the 4th quarter. Corebridge Financial Inc. now owns 16,260 shares of the company’s stock valued at $336,000 after acquiring an additional 1,839 shares in the last quarter. 82.65% of the stock is owned by hedge funds and other institutional investors.

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.