MeridianLink (NYSE:MLNK) Sees Unusually-High Trading Volume - Here's Why

Key Points

• MeridianLink (NYSE:MLNK) experienced a significant increase in trading volume, with 1,723,971 shares traded, a 275% rise compared to the previous session.
• Analysts have issued mixed ratings on the stock, with a consensus rating of "Reduce" and an average price target of $20.07, reflecting recent downgrades from firms like William Blair and Raymond James.
• The company reported last earnings on August 11, missing earnings per share estimates but exceeding revenue expectations, showing a 7.5% year-over-year revenue growth.

Shares of MeridianLink, Inc. (NYSE:MLNK - Get Free Report) saw strong trading volume on Thursday . 1,723,971 shares changed hands during trading, an increase of 275% from the previous session's volume of 459,630 shares.The stock last traded at $20.03 and had previously closed at $20.01.

Analyst Ratings Changes

Several analysts have issued reports on the company. Weiss Ratings restated a "sell (d-)" rating on shares of MeridianLink in a research note on Wednesday, October 8th. William Blair lowered shares of MeridianLink from an "outperform" rating to a "market perform" 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 research report on Tuesday, August 12th. Barclays raised their price objective on shares of MeridianLink from $16.00 to $20.00 and gave the stock an "underweight" rating in a report on Tuesday, August 12th. Finally, BTIG Research cut shares of MeridianLink from a "strong-buy" rating to a "neutral" rating in a report on Monday, August 11th. Six investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $20.07.

MeridianLink Stock Up 0.1%

The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 1.18. The firm has a market cap of $1.48 billion, a PE ratio of -69.05 and a beta of 0.92. The stock has a fifty day simple moving average of $19.93 and a two-hundred day simple moving average of $17.79.

MeridianLink (NYSE:MLNK - Get Free Report) last posted its earnings results 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). The company had revenue of $84.60 million for the quarter, compared to analysts' expectations of $81.58 million. MeridianLink had a negative net margin of 6.90% and a negative return on equity of 4.50%. The firm's quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.04 EPS. As a group, sell-side analysts expect that MeridianLink, Inc. will post -0.35 EPS for the current fiscal year.

Institutional Trading of MeridianLink

A number of large investors have recently modified their holdings of MLNK. Raymond James Financial Inc. bought a new stake in shares of MeridianLink during the 2nd quarter valued at about $76,000. Mirae Asset Global Investments Co. Ltd. boosted 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 acquiring an additional 4,256 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of MeridianLink by 271.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,275 shares of the company's stock worth $151,000 after purchasing an additional 6,779 shares in the last quarter. New York State Common Retirement Fund raised its holdings 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 buying an additional 2,600 shares in the last quarter. Finally, AQR Capital Management LLC bought a new stake in MeridianLink in the 1st quarter worth approximately $194,000. Institutional investors own 82.65% of the company's stock.

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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