Northern Trust Corp Has $9.57 Million Holdings in MeridianLink, Inc. $MLNK

Key Points

• Northern Trust Corp increased its stake in MeridianLink, Inc. by 7.4%, now holding a total of 516,519 shares valued at approximately $9.57 million.
• MeridianLink recently reported negative earnings per share of ($0.04), missing analyst expectations, despite a year-over-year revenue increase of 7.5%.
• Analysts have issued a mix of ratings on MeridianLink, with an average target price of $20.07, suggesting a cautious outlook for the stock.

Northern Trust Corp increased its position in MeridianLink, Inc. (NYSE:MLNK - Free Report) by 7.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 516,519 shares of the company's stock after purchasing an additional 35,692 shares during the quarter. Northern Trust Corp owned approximately 0.67% of MeridianLink worth $9,571,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Versor Investments LP bought a new stake in shares of MeridianLink in the 1st quarter valued at about $574,000. Nuveen LLC bought a new stake in shares of MeridianLink in the 1st quarter valued at about $2,127,000. Invesco Ltd. raised its holdings in shares of MeridianLink by 102.2% in the 1st quarter. Invesco Ltd. now owns 60,205 shares of the company's stock valued at $1,116,000 after purchasing an additional 30,437 shares during the period. Vanguard Group Inc. raised its holdings in shares of MeridianLink by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 3,343,896 shares of the company's stock valued at $61,962,000 after purchasing an additional 77,873 shares during the period. Finally, Mackenzie Financial Corp bought a new stake in shares of MeridianLink in the 1st quarter valued at about $708,000. 82.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MLNK. Raymond James Financial cut shares of MeridianLink from a "moderate buy" rating to a "hold" rating in a report on Tuesday, August 12th. William Blair cut shares of MeridianLink from an "outperform" rating to a "market perform" rating in a report on Monday, August 11th. Barclays increased their price target on shares of MeridianLink from $16.00 to $20.00 and gave the company an "underweight" rating in a report on Tuesday, August 12th. Finally, BTIG Research cut shares of MeridianLink from a "strong-buy" rating to a "neutral" rating in a report on Monday, August 11th. Six equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, MeridianLink currently has an average rating of "Reduce" and an average target price of $20.07.

MeridianLink Stock Performance

MeridianLink stock traded up $0.03 during trading hours on Thursday, hitting $19.93. The company had a trading volume of 473,330 shares, compared to its average volume of 433,372. The firm has a market cap of $1.48 billion, a PE ratio of -68.71 and a beta of 0.93. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.01 and a quick ratio of 2.01. MeridianLink, Inc. has a one year low of $15.49 and a one year high of $25.33. The firm has a 50-day moving average of $18.07 and a 200 day moving average of $17.58.

MeridianLink (NYSE:MLNK - Get Free Report) last released its quarterly earnings results on Monday, August 11th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.13). The company had revenue of $84.60 million during the quarter, compared to the consensus estimate of $81.58 million. MeridianLink had a negative net margin of 6.90% and a negative return on equity of 4.50%. The firm's revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.04 earnings per share. On average, sell-side analysts expect that MeridianLink, Inc. will post -0.35 earnings per share for the current year.

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.