MeridianLink (NYSE:MLNK) Sees Large Volume Increase - Here's What Happened

Key Points

• MeridianLink shares experienced a 15% increase in trading volume, with approximately 250,651 shares traded during mid-day, marking a rise from 217,691 shares in the previous session.
• Wall Street analysts have a mixed outlook on MeridianLink, with a range of ratings including "underweight", "hold", "buy", and "strong buy", leading to an average target price of $19.50.
• The company reported $0.09 EPS for its latest quarter, missing estimates, and a revenue of $81.49 million, reflecting a 4.7% increase year-over-year.

MeridianLink, Inc. (NYSE:MLNK - Get Free Report) saw an uptick in trading volume on Tuesday . 250,651 shares changed hands during trading, an increase of 15% from the previous session's volume of 217,691 shares.The stock last traded at $16.04 and had previously closed at $15.57.

Analysts Set New Price Targets

Several research firms have recently weighed in on MLNK. BTIG Research upgraded MeridianLink to a "strong-buy" rating and set a $20.00 price target for the company in a research note on Friday, August 1st. Barclays cut their target price on shares of MeridianLink from $19.00 to $16.00 and set an "underweight" rating for the company in a research report on Monday, April 14th. Finally, Stifel Nicolaus lowered their price target on shares of MeridianLink from $20.00 to $18.00 and set a "hold" rating on the stock in a research report on Tuesday, May 13th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $19.50.

MeridianLink Stock Performance

The business's fifty day moving average price is $16.49 and its 200-day moving average price is $17.49. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.22 and a quick ratio of 2.22. The stock has a market capitalization of $1.23 billion, a PE ratio of -41.87 and a beta of 0.91.

MeridianLink (NYSE:MLNK - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.11 by ($0.02). The business had revenue of $81.49 million for the quarter, compared to the consensus estimate of $80.47 million. MeridianLink had a negative net margin of 9.11% and a negative return on equity of 5.14%. The business's revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 EPS. As a group, equities research analysts expect that MeridianLink, Inc. will post -0.35 EPS for the current year.

Hedge Funds Weigh In On MeridianLink

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas grew its position in MeridianLink by 87.7% in the first quarter. Teacher Retirement System of Texas now owns 60,362 shares of the company's stock worth $1,119,000 after acquiring an additional 28,204 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in MeridianLink by 1,606.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,521 shares of the company's stock worth $84,000 after purchasing an additional 4,256 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of MeridianLink by 12.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 986,105 shares of the company's stock worth $20,363,000 after purchasing an additional 107,349 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of MeridianLink by 11.4% in the 4th quarter. Geode Capital Management LLC now owns 672,526 shares of the company's stock worth $13,890,000 after purchasing an additional 69,083 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of MeridianLink by 39.1% during the 1st quarter. New York State Common Retirement Fund now owns 9,257 shares of the company's stock valued at $172,000 after purchasing an additional 2,600 shares during the last quarter. Hedge funds and other institutional investors own 82.65% of the company's stock.

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.