Park West Asset Management LLC Increases Stock Holdings in MeridianLink, Inc. $MLNK

Key Points

• Park West Asset Management LLC increased its stake in MeridianLink, Inc. by 9.6% during Q1, owning 2,599,087 shares valued at approximately $48.16 million, making it the firm's 6th largest position.
• MeridianLink reported a loss of ($0.04) earnings per share for the last quarter, missing estimates, although its revenue grew by 7.5% year-over-year to $84.6 million.
• Analysts have generally downgraded MeridianLink, with a consensus rating of "Reduce" and an average price target of $20.07.

Park West Asset Management LLC lifted its position in MeridianLink, Inc. (NYSE:MLNK - Free Report) by 9.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,599,087 shares of the company's stock after buying an additional 227,969 shares during the period. MeridianLink makes up 3.9% of Park West Asset Management LLC's holdings, making the stock its 6th largest position. Park West Asset Management LLC owned about 3.37% of MeridianLink worth $48,161,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC bought a new stake in shares of MeridianLink in the 1st quarter worth $194,000. PDT Partners LLC raised its stake in shares of MeridianLink by 34.7% in the 1st quarter. PDT Partners LLC now owns 84,377 shares of the company's stock worth $1,564,000 after buying an additional 21,759 shares in the last quarter. State of Wyoming raised its stake in shares of MeridianLink by 7.1% in the 1st quarter. State of Wyoming now owns 28,930 shares of the company's stock worth $536,000 after buying an additional 1,915 shares in the last quarter. Northern Trust Corp raised its stake in shares of MeridianLink by 7.4% in the 1st quarter. Northern Trust Corp now owns 516,519 shares of the company's stock worth $9,571,000 after buying an additional 35,692 shares in the last quarter. Finally, Versor Investments LP bought a new stake in shares of MeridianLink in the 1st quarter worth $574,000. Institutional investors own 82.65% of the company's stock.

Analyst Ratings Changes

MLNK has been the topic of a number of research reports. BTIG Research downgraded MeridianLink from a "strong-buy" rating to a "neutral" rating in a research note on Monday, August 11th. William Blair downgraded MeridianLink from an "outperform" rating to a "market perform" rating in a research note on Monday, August 11th. Barclays boosted their price objective on MeridianLink from $16.00 to $20.00 and gave the stock an "underweight" rating in a research note on Tuesday, August 12th. Raymond James Financial lowered MeridianLink from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, August 12th. Finally, Stifel Nicolaus cut their target price on MeridianLink from $20.00 to $18.00 and set a "hold" rating on the stock in a research report on Tuesday, May 13th. Six equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, MeridianLink presently has a consensus rating of "Reduce" and an average price target of $20.07.

MeridianLink Stock Down 0.2%

Shares of MeridianLink stock opened at $19.92 on Friday. The stock's fifty day moving average is $17.82 and its 200-day moving average is $17.54. The firm has a market capitalization of $1.48 billion, a PE ratio of -68.67 and a beta of 0.93. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 1.18. MeridianLink, Inc. has a 12-month low of $15.49 and a 12-month high of $25.33.

MeridianLink (NYSE:MLNK - Get Free Report) last posted 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 business had revenue of $84.60 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.04 earnings per share. Equities analysts anticipate 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.

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