Proficio Capital Partners LLC Invests $234,000 in MeridianLink, Inc. (NYSE:MLNK)

Proficio Capital Partners LLC purchased a new position in shares of MeridianLink, Inc. (NYSE:MLNK) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 11,316 shares of the company’s stock, valued at approximately $234,000.

Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC raised its position in shares of MeridianLink by 94.9% during the 4th quarter. SG Americas Securities LLC now owns 21,878 shares of the company’s stock worth $452,000 after purchasing an additional 10,654 shares during the last quarter. FMR LLC raised its position in shares of MeridianLink by 5.1% during the 3rd quarter. FMR LLC now owns 23,408 shares of the company’s stock worth $482,000 after purchasing an additional 1,139 shares during the last quarter. Centiva Capital LP acquired a new position in shares of MeridianLink during the 3rd quarter worth approximately $823,000. Barclays PLC raised its position in shares of MeridianLink by 342.1% during the 3rd quarter. Barclays PLC now owns 42,399 shares of the company’s stock worth $872,000 after purchasing an additional 32,808 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of MeridianLink by 10.0% during the 4th quarter. Rhumbline Advisers now owns 48,629 shares of the company’s stock worth $1,004,000 after purchasing an additional 4,404 shares during the last quarter. Hedge funds and other institutional investors own 82.65% of the company’s stock.

Insider Activity

In other news, CEO Nicolaas Vlok sold 29,217 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were 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 of the company’s stock, valued at $23,789,109.60. The trade was a 2.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 100,845 shares of company stock valued at $2,182,567 in the last ninety days. Company insiders own 21.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on MLNK. William Blair restated an “outperform” rating on shares of MeridianLink in a research report on Friday, March 7th. Bank of America downgraded MeridianLink from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $28.00 to $18.00 in a research report on Thursday, January 30th. Raymond James cut their price objective on MeridianLink from $28.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, March 7th. UBS Group cut their price target on MeridianLink from $25.50 to $20.50 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Finally, Citigroup cut their price target on MeridianLink from $24.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, March 7th. 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’s stock. Based on data from MarketBeat, MeridianLink currently has a consensus rating of “Hold” and a consensus target price of $20.58.

MeridianLink Trading Down 4.7 %

Shares of MLNK opened at $19.72 on Wednesday. MeridianLink, Inc. has a fifty-two week low of $16.49 and a fifty-two week high of $25.33. The stock has a fifty day moving average of $19.38 and a two-hundred day moving average of $21.28. The company has a market capitalization of $1.49 billion, a PE ratio of -29.44 and a beta of 1.01. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.86 and a current ratio of 1.86.

MeridianLink 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.