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,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other research analysts have also issued reports about the stock. William Blair restated an “outperform” rating on shares of MeridianLink in a report on Friday. Barclays decreased their price target on shares of MeridianLink from $20.00 to $19.00 and set an “underweight” rating for the company in a research note on Friday. Raymond James cut their price objective on MeridianLink from $28.00 to $24.00 and set an “outperform” rating on the stock in a research report on Friday. Bank of America lowered MeridianLink from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $28.00 to $18.00 in a research report on Thursday, January 30th. Finally, UBS Group dropped their price target on MeridianLink from $25.50 to $20.50 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $20.58.

MeridianLink Price Performance

MLNK opened at $21.58 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.86 and a current ratio of 1.86. The stock has a market capitalization of $1.63 billion, a PE ratio of -32.20 and a beta of 1.01. The stock’s 50 day moving average price is $19.40 and its 200-day moving average price is $21.31. MeridianLink has a 52-week low of $16.49 and a 52-week high of $25.33.

Insider Transactions at MeridianLink

In related news, CEO Nicolaas Vlok sold 71,598 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $21.17, for a total value of $1,515,729.66. Following the transaction, the chief executive officer now owns 1,043,382 shares in the company, valued at $22,088,396.94. The trade was a 6.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 100,845 shares of company stock valued at $2,182,567 in the last ninety days. 21.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MeridianLink

Hedge funds and other institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio increased its stake in MeridianLink by 47.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 33,167 shares of the company’s stock worth $685,000 after buying an additional 10,600 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in MeridianLink by 46.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,440 shares of the company’s stock valued at $1,496,000 after purchasing an additional 22,858 shares during the period. Western Standard LLC purchased a new position in MeridianLink in the 4th quarter worth approximately $7,223,000. Woodline Partners LP bought a new position in MeridianLink in the 4th quarter worth approximately $219,000. Finally, Two Sigma Investments LP purchased a new stake in MeridianLink during the 4th quarter valued at approximately $235,000. 82.65% of the stock is owned by institutional investors.

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.