MeridianLink, Inc. $MLNK Stake Boosted by Park West Asset Management LLC

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 increased its position in shares of MeridianLink, Inc. (NYSE:MLNK - Free Report) by 9.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,599,087 shares of the company's stock after acquiring an additional 227,969 shares during the period. MeridianLink makes up about 3.9% of Park West Asset Management LLC's holdings, making the stock its 6th biggest position. Park West Asset Management LLC owned 3.37% of MeridianLink worth $48,161,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of MeridianLink by 1,606.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,521 shares of the company's stock valued at $84,000 after purchasing an additional 4,256 shares in the last quarter. New York State Common Retirement Fund grew its position in MeridianLink by 39.1% during the first quarter. New York State Common Retirement Fund now owns 9,257 shares of the company's stock worth $172,000 after buying an additional 2,600 shares in the last quarter. Millennium Management LLC purchased a new position in MeridianLink during the fourth quarter worth about $201,000. AQR Capital Management LLC bought a new position in MeridianLink in the 1st quarter worth about $194,000. Finally, Woodline Partners LP purchased a new stake in shares of MeridianLink in the 4th quarter valued at about $219,000. 82.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. William Blair lowered MeridianLink from an "outperform" rating to a "market perform" rating in a report on Monday, August 11th. BTIG Research lowered shares of MeridianLink from a "strong-buy" rating to a "neutral" rating in a research report on Monday, August 11th. Raymond James Financial lowered shares of MeridianLink from a "moderate buy" rating to a "hold" rating in a report on Tuesday, August 12th. Finally, Barclays raised their price objective on shares of MeridianLink from $16.00 to $20.00 and gave the company an "underweight" rating in a research report on Tuesday, August 12th. Six research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of $20.07.

MeridianLink Price Performance

NYSE MLNK traded up $0.03 on Thursday, reaching $19.93. 473,330 shares of the company's stock traded hands, compared to its average volume of 408,057. The stock has a market cap of $1.48 billion, a PE ratio of -68.71 and a beta of 0.93. MeridianLink, Inc. has a 12 month low of $15.49 and a 12 month high of $25.33. The stock has a 50-day simple moving average of $18.01 and a 200 day simple moving average of $17.57. 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 (NYSE:MLNK - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by ($0.13). MeridianLink had a negative return on equity of 4.50% and a negative net margin of 6.90%.The business had revenue of $84.60 million during the quarter, compared to the consensus estimate of $81.58 million. During the same quarter in the previous year, the firm posted $0.04 earnings per share. The company's revenue was up 7.5% compared to the same quarter last year. As a group, research analysts predict that MeridianLink, Inc. will post -0.35 earnings per share for the current year.

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.