MeridianLink, Inc. (NYSE:MLNK) Sees Large Decline in Short Interest

MeridianLink, Inc. (NYSE:MLNK) saw a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 844,200 shares, a decrease of 27.8% from the October 31st total of 1,170,000 shares. Currently, 3.1% of the company’s shares are short sold. Based on an average trading volume of 367,600 shares, the days-to-cover ratio is presently 2.3 days.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on MLNK shares. Raymond James boosted their price target on MeridianLink from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, November 8th. UBS Group raised MeridianLink from a “sell” rating to a “neutral” rating and boosted their target price for the company from $18.00 to $22.50 in a research note on Monday, November 11th. Stifel Nicolaus raised their price target on MeridianLink from $18.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, August 9th. Finally, Barclays lifted their target price on shares of MeridianLink from $18.00 to $20.00 and gave the company an “underweight” rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $22.90.

Insider Activity at MeridianLink

In other MeridianLink news, major shareholder Timothy Nguyen sold 10,776 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $23.02, for a total value of $248,063.52. Following the sale, the insider now owns 10,751,935 shares of the company’s stock, valued at $247,509,543.70. This trade represents a 0.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Thoma Bravo Ugp, Llc sold 6,000,000 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $21.05, for a total transaction of $126,300,000.00. Following the transaction, the insider now directly owns 29,582,388 shares of the company’s stock, valued at approximately $622,709,267.40. This trade represents a 16.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,760,776 shares of company stock worth $142,580,564 in the last ninety days. 21.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On MeridianLink

Several large investors have recently made changes to their positions in MLNK. Russell Investments Group Ltd. increased its holdings in shares of MeridianLink by 26.4% during the first quarter. Russell Investments Group Ltd. now owns 15,430 shares of the company’s stock valued at $289,000 after acquiring an additional 3,226 shares in the last quarter. Vanguard Group Inc. increased its stake in MeridianLink by 32.8% during 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 in the last quarter. SG Capital Management LLC bought a new position in shares of MeridianLink in the first quarter worth approximately $2,117,000. Pure Financial Advisors LLC bought a new position in shares of MeridianLink in the second quarter worth approximately $434,000. Finally, Bank of New York Mellon Corp increased its position in shares of MeridianLink by 14.3% during the second quarter. Bank of New York Mellon Corp now owns 98,299 shares of the company’s stock valued at $2,100,000 after acquiring an additional 12,302 shares in the last quarter. 82.65% of the stock is currently owned by hedge funds and other institutional investors.

MeridianLink Stock Up 1.9 %

NYSE MLNK traded up $0.43 during trading hours on Friday, reaching $23.35. 165,826 shares of the company’s stock traded hands, compared to its average volume of 388,198. The firm has a market cap of $1.76 billion, a PE ratio of -34.85 and a beta of 0.98. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.86 and a quick ratio of 1.86. MeridianLink has a 52-week low of $16.49 and a 52-week high of $25.88. The firm has a 50-day simple moving average of $22.03 and a 200 day simple moving average of $21.74.

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.