Barclays Cuts MeridianLink (NYSE:MLNK) Price Target to $19.00

MeridianLink (NYSE:MLNK) had its price target trimmed by Barclays from $20.00 to $19.00 in a research report released on Friday,Benzinga reports. The brokerage currently has an underweight rating on the stock.

Several other equities analysts also recently commented on the company. Bank of America downgraded MeridianLink from a “buy” rating to an “underperform” rating and cut their price objective for the company from $28.00 to $18.00 in a research report on Thursday, January 30th. UBS Group lowered their target price on MeridianLink from $25.50 to $20.50 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Finally, Raymond James upped their target price on MeridianLink from $26.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, MeridianLink has an average rating of “Hold” and a consensus target price of $20.58.

MeridianLink Stock Performance

Shares of MeridianLink stock opened at $21.58 on Friday. The stock’s fifty day moving average is $19.40 and its two-hundred day moving average is $21.31. The company has a market capitalization of $1.63 billion, a PE ratio of -32.20 and a beta of 1.01. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 1.11. MeridianLink has a 52 week low of $16.49 and a 52 week high of $25.33.

Insider Buying and Selling

In related news, CEO Nicolaas Vlok sold 29,217 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 1,043,382 shares in the company, valued at $23,789,109.60. This represents a 2.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders sold 100,845 shares of company stock worth $2,182,567 in the last three months. 21.30% of the stock is owned by insiders.

Institutional Investors Weigh In On MeridianLink

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its stake 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 purchasing an additional 65,834 shares during the last quarter. Barclays PLC raised its stake in MeridianLink by 342.1% in the third quarter. Barclays PLC now owns 42,399 shares of the company’s stock valued at $872,000 after buying an additional 32,808 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in MeridianLink by 24.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 218,104 shares of the company’s stock valued at $4,486,000 after buying an additional 42,302 shares during the last quarter. Maven Securities LTD purchased a new stake in MeridianLink in the third quarter valued at about $5,377,000. Finally, Centiva Capital LP purchased a new stake in MeridianLink in the third quarter valued at about $823,000. 82.65% of the stock is currently 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.