MeridianLink (NYSE:MLNK) Sees Unusually-High Trading Volume - Time to Buy?

Shares of MeridianLink, Inc. (NYSE:MLNK - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 913,286 shares were traded during trading, an increase of 219% from the previous session's volume of 286,588 shares.The stock last traded at $16.81 and had previously closed at $16.60.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MLNK. Stifel Nicolaus cut their price target 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. William Blair reaffirmed an "outperform" rating on shares of MeridianLink in a research report on Friday, March 7th. Barclays lowered their target price on MeridianLink from $19.00 to $16.00 and set an "underweight" rating for the company in a report on Monday, April 14th. Raymond James dropped their price target on MeridianLink from $28.00 to $24.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. Finally, UBS Group reduced their price objective on MeridianLink from $25.50 to $20.50 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $19.42.

MeridianLink Stock Up 1.1%

The firm's 50 day simple moving average is $16.71 and its 200-day simple moving average is $19.02. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of -25.44 and a beta of 0.93.

MeridianLink (NYSE:MLNK - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.02). MeridianLink had a negative net margin of 16.57% and a negative return on equity of 9.57%. The company had revenue of $81.49 million during the quarter, compared to the consensus estimate of $80.47 million. During the same quarter in the previous year, the business earned $0.06 EPS. MeridianLink's revenue was up 4.7% on a year-over-year basis. Equities analysts expect that MeridianLink, Inc. will post -0.35 earnings per share for the current fiscal year.

Institutional Trading of MeridianLink

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its holdings in shares of MeridianLink by 5.0% in the 4th quarter. Russell Investments Group Ltd. now owns 16,704 shares of the company's stock valued at $345,000 after purchasing an additional 802 shares during the period. Summit Investment Advisors Inc. increased its position in MeridianLink by 32.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,421 shares of the company's stock worth $71,000 after buying an additional 830 shares during the last quarter. Legal & General Group Plc increased its position in MeridianLink by 3.3% during the fourth quarter. Legal & General Group Plc now owns 30,905 shares of the company's stock worth $638,000 after buying an additional 987 shares during the last quarter. Corebridge Financial Inc. raised its stake in MeridianLink by 12.8% in the fourth quarter. Corebridge Financial Inc. now owns 16,260 shares of the company's stock valued at $336,000 after buying an additional 1,839 shares during the period. Finally, State of Wyoming lifted its position in shares of MeridianLink by 7.1% in the first quarter. State of Wyoming now owns 28,930 shares of the company's stock valued at $536,000 after buying an additional 1,915 shares during the last quarter. 82.65% of the stock is owned by institutional investors.

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.