JPMorgan Chase & Co. Cuts Holdings in MeridianLink, Inc. (NYSE:MLNK)

JPMorgan Chase & Co. decreased its position in MeridianLink, Inc. (NYSE:MLNK) by 55.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,233 shares of the company’s stock after selling 26,610 shares during the period. JPMorgan Chase & Co.’s holdings in MeridianLink were worth $437,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of MLNK. SG Americas Securities LLC bought a new position in MeridianLink during the third quarter valued at $231,000. Squarepoint Ops LLC bought a new stake in MeridianLink in the 2nd quarter valued at about $336,000. The Manufacturers Life Insurance Company lifted its holdings in MeridianLink by 10.1% during the second quarter. The Manufacturers Life Insurance Company now owns 16,218 shares of the company’s stock valued at $346,000 after purchasing an additional 1,490 shares during the last quarter. American Century Companies Inc. boosted its position in MeridianLink by 46.4% during the second quarter. American Century Companies Inc. now owns 18,896 shares of the company’s stock worth $404,000 after purchasing an additional 5,988 shares during the period. Finally, FMR LLC increased its stake in shares of MeridianLink by 5.1% in the third quarter. FMR LLC now owns 23,408 shares of the company’s stock worth $482,000 after purchasing an additional 1,139 shares in the last quarter. Institutional investors own 82.65% of the company’s stock.

MeridianLink Stock Performance

MeridianLink stock opened at $20.88 on Wednesday. The firm’s 50 day simple moving average is $21.30 and its 200 day simple moving average is $22.00. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 1.11. MeridianLink, Inc. has a 1-year low of $16.49 and a 1-year high of $25.33. The firm has a market capitalization of $1.58 billion, a PE ratio of -31.16 and a beta of 1.02.

MeridianLink (NYSE:MLNK) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.17). MeridianLink had a negative net margin of 16.57% and a negative return on equity of 9.57%. The business had revenue of $80.37 million during the quarter, compared to analysts’ expectations of $79.54 million. As a group, analysts expect that MeridianLink, Inc. will post -0.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on MLNK shares. UBS Group upgraded shares of MeridianLink from a “sell” rating to a “neutral” rating and upped their price target for the company from $18.00 to $22.50 in a research note on Monday, November 11th. Raymond James increased their target price on MeridianLink from $26.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $22.90.

Insider Buying and Selling at MeridianLink

In related news, CEO Nicolaas Vlok sold 29,217 shares of MeridianLink stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $22.80, for a total value of $666,147.60. Following the transaction, the chief executive officer now owns 1,043,382 shares in the company, valued at $23,789,109.60. This trade represents a 2.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Timothy Nguyen sold 100,000 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 10,928,412 shares of the company’s stock, valued at approximately $256,817,682. The trade was a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 286,488 shares of company stock worth $6,525,738 over the last three months. 21.30% of the stock is owned by insiders.

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.