MeridianLink, Inc. (NYSE:MLNK) Short Interest Update

Key Points

• MeridianLink, Inc. experienced a significant decline in short interest, with a 22.4% decrease in short shares from July to August, totaling 1,180,000 shares by mid-August.
• The company's recent quarterly earnings report showed a loss of $0.04 EPS, missing analyst expectations of $0.09, despite a revenue increase of 7.5% year-over-year.
• Analysts have revised their ratings on MeridianLink, with several cutting their target price, resulting in a consensus rating of "Reduce" and a price target of $20.07.

MeridianLink, Inc. (NYSE:MLNK - Get Free Report) was the recipient of a significant decline in short interest during the month of August. As of August 15th, there was short interest totaling 1,180,000 shares, adeclineof22.4% from the July 31st total of 1,520,000 shares. Approximately4.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 685,400 shares, the days-to-cover ratio is currently 1.7 days. Based on an average daily trading volume, of 685,400 shares, the days-to-cover ratio is currently 1.7 days. Approximately4.0% of the shares of the stock are sold short.

MeridianLink Trading Down 0.2%

Shares of MeridianLink stock traded down $0.03 during midday trading on Tuesday, reaching $19.97. The company had a trading volume of 15,988 shares, compared to its average volume of 405,656. The stock has a fifty day moving average price of $17.89 and a 200 day moving average price of $17.54. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.01 and a quick ratio of 2.01. The firm has a market cap of $1.48 billion, a PE ratio of -68.88 and a beta of 0.93. MeridianLink has a fifty-two week low of $15.49 and a fifty-two week high of $25.33.

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

Hedge Funds Weigh In On MeridianLink

A number of hedge funds and other institutional investors have recently made changes to their positions in MLNK. Victory Capital Management Inc. lifted its stake in shares of MeridianLink by 27.9% in the first quarter. Victory Capital Management Inc. now owns 1,824,395 shares of the company's stock worth $33,806,000 after acquiring an additional 397,730 shares during the period. Western Standard LLC bought a new stake in MeridianLink during the fourth quarter valued at $7,223,000. Select Equity Group L.P. boosted its position in MeridianLink by 541.3% during the first quarter. Select Equity Group L.P. now owns 307,322 shares of the company's stock valued at $5,695,000 after acquiring an additional 259,400 shares during the last quarter. Park West Asset Management LLC boosted its position in MeridianLink by 9.6% during the first quarter. Park West Asset Management LLC now owns 2,599,087 shares of the company's stock valued at $48,161,000 after acquiring an additional 227,969 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in MeridianLink by 531.8% during the second quarter. Marshall Wace LLP now owns 239,176 shares of the company's stock valued at $3,882,000 after acquiring an additional 201,318 shares during the last quarter. 82.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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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