MeridianLink, Inc. (NYSE:MLNK) Sees Significant Increase in Short Interest

MeridianLink, Inc. (NYSE:MLNK - Get Free Report) was the recipient of a significant increase in short interest in March. As of March 31st, there was short interest totalling 1,760,000 shares, an increase of 20.5% from the March 15th total of 1,460,000 shares. Approximately 6.2% of the company's shares are short sold. Based on an average daily trading volume, of 242,900 shares, the days-to-cover ratio is presently 7.2 days.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MLNK. UBS Group reduced their target price on shares of MeridianLink from $25.50 to $20.50 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Citigroup lowered their price target on MeridianLink from $24.00 to $20.00 and set a "neutral" rating for the company in a report on Friday, March 7th. Bank of America lowered shares of MeridianLink from a "buy" rating to an "underperform" rating and reduced their price objective for the company from $28.00 to $18.00 in a report on Thursday, January 30th. William Blair reiterated an "outperform" rating on shares of MeridianLink in a research report on Friday, March 7th. Finally, Raymond James reduced their price target on shares of MeridianLink from $28.00 to $24.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, MeridianLink presently has an average rating of "Hold" and a consensus price target of $20.08.

Institutional Investors Weigh In On MeridianLink

Hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its position in shares of MeridianLink by 12.2% during the third quarter. Geode Capital Management LLC now owns 603,443 shares of the company's stock worth $12,415,000 after acquiring an additional 65,834 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in MeridianLink by 123.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 398,389 shares of the company's stock worth $8,227,000 after purchasing an additional 220,240 shares during the period. Barclays PLC raised its position in MeridianLink by 342.1% in the 3rd quarter. Barclays PLC now owns 42,399 shares of the company's stock valued at $872,000 after purchasing an additional 32,808 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of MeridianLink by 9.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 239,032 shares of the company's stock valued at $4,936,000 after buying an additional 20,928 shares during the period. Finally, Counterpoint Mutual Funds LLC purchased a new position in shares of MeridianLink in the 4th quarter valued at about $384,000. 82.65% of the stock is currently owned by institutional investors and hedge funds.

MeridianLink Stock Up 0.5 %

Shares of NYSE MLNK traded up $0.08 during midday trading on Friday, hitting $16.70. The company's stock had a trading volume of 125,207 shares, compared to its average volume of 278,161. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.86 and a quick ratio of 1.86. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -24.93 and a beta of 0.96. The business's fifty day simple moving average is $18.06 and its two-hundred day simple moving average is $20.14. MeridianLink has a 1 year low of $15.57 and a 1 year high of $25.33.

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.