Citigroup Issues Pessimistic Forecast for MeridianLink (NYSE:MLNK) Stock Price

MeridianLink (NYSE:MLNK) had its price objective decreased by equities researchers at Citigroup from $24.00 to $20.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price would suggest a potential downside of 7.31% from the company’s current price.

A number of other research analysts have also recently issued reports on MLNK. Barclays lowered their price target on shares of MeridianLink from $20.00 to $19.00 and set an “underweight” rating for the company in a research report on Friday. UBS Group lowered their target price on shares of MeridianLink from $25.50 to $20.50 and set a “neutral” rating for the company in a report on Tuesday, March 4th. William Blair restated an “outperform” rating on shares of MeridianLink in a research note on Friday. Bank of America cut MeridianLink from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $28.00 to $18.00 in a research note on Thursday, January 30th. Finally, Raymond James dropped their target price on MeridianLink from $28.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently 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 current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 1.11. The company has a market cap of $1.63 billion, a price-to-earnings ratio of -32.20 and a beta of 1.01. The stock has a fifty day simple moving average of $19.40 and a two-hundred day simple moving average of $21.31. MeridianLink has a 12-month low of $16.49 and a 12-month high of $25.33.

Insider Buying and Selling at MeridianLink

In other MeridianLink news, CEO Nicolaas Vlok sold 71,598 shares of the business’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $21.17, for a total value of $1,515,729.66. Following the completion of the transaction, the chief executive officer now owns 1,043,382 shares of the company’s stock, valued at approximately $22,088,396.94. The trade was a 6.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Timothy Nguyen sold 5,666 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $23.01, for a total transaction of $130,374.66. Following the sale, the insider now directly owns 10,619,126 shares in the company, valued at approximately $244,346,089.26. The trade was a 0.05 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 106,511 shares of company stock worth $2,312,942. Insiders own 21.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MLNK. Quantbot Technologies LP bought a new stake in MeridianLink in the 4th quarter worth approximately $65,000. Summit Investment Advisors Inc. boosted its stake in shares of MeridianLink by 32.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,421 shares of the company’s stock worth $71,000 after buying an additional 830 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of MeridianLink in the fourth quarter worth $124,000. Millennium Management LLC purchased a new stake in MeridianLink during the fourth quarter valued at $201,000. Finally, Woodline Partners LP bought a new position in MeridianLink in the fourth quarter valued at about $219,000. 82.65% of the stock is 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.