MeridianLink (NYSE:MLNK) Shares Up 2.9%

MeridianLink, Inc. (NYSE:MLNK) shares shot up 2.9% during trading on Tuesday . The company traded as high as $19.52 and last traded at $19.39. 83,759 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 217,433 shares. The stock had previously closed at $18.85.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MLNK. Wolfe Research raised MeridianLink from an “underperform” rating to a “peer perform” rating in a report on Thursday, February 8th. William Blair reiterated an “outperform” rating on shares of MeridianLink in a report on Wednesday, March 6th. Barclays decreased their price target on shares of MeridianLink from $23.00 to $20.00 and set an “underweight” rating for the company in a research report on Thursday, March 7th. Citigroup dropped their price target on shares of MeridianLink from $23.50 to $22.00 and set a “neutral” rating for the company in a research note on Wednesday, March 6th. Finally, Stifel Nicolaus reduced their price objective on shares of MeridianLink from $20.00 to $18.00 and set a “hold” rating on the stock in a research note on Wednesday, March 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $19.60.

MeridianLink Trading Down 0.4 %

The company has a debt-to-equity ratio of 0.90, a current ratio of 1.51 and a quick ratio of 1.51. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -35.07 and a beta of 0.95. The firm’s fifty day moving average is $17.77 and its 200-day moving average is $19.88.

MeridianLink (NYSE:MLNK) last issued its earnings results on Tuesday, May 7th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The business had revenue of $77.82 million during the quarter, compared to the consensus estimate of $76.79 million. MeridianLink had a negative return on equity of 6.72% and a negative net margin of 13.86%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. Equities analysts anticipate that MeridianLink, Inc. will post -0.01 earnings per share for the current year.

Institutional Investors Weigh In On MeridianLink

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Keenan Capital LLC raised its stake in MeridianLink by 11.5% during the 3rd quarter. Keenan Capital LLC now owns 2,896,577 shares of the company’s stock worth $49,416,000 after buying an additional 298,686 shares during the period. Vanguard Group Inc. grew its position in MeridianLink by 32.8% in the 1st quarter. Vanguard Group Inc. now owns 2,756,231 shares of the company’s stock valued at $51,542,000 after purchasing an additional 680,872 shares during the period. WCM Investment Management LLC increased its stake in MeridianLink by 0.9% during the 1st quarter. WCM Investment Management LLC now owns 1,154,432 shares of the company’s stock valued at $21,588,000 after purchasing an additional 9,885 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in MeridianLink by 10.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 263,525 shares of the company’s stock worth $4,928,000 after buying an additional 25,906 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of MeridianLink by 11.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 119,147 shares of the company’s stock worth $2,228,000 after acquiring an additional 12,472 shares in the last quarter. 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.