MeridianLink (NYSE:MLNK) Trading Down 4.9% - Here's What Happened

MeridianLink, Inc. (NYSE:MLNK - Get Free Report) dropped 4.9% on Thursday . The stock traded as low as $16.89 and last traded at $16.89. Approximately 266,489 shares were traded during trading, a decline of 9% from the average daily volume of 294,118 shares. The stock had previously closed at $17.76.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MLNK shares. Barclays cut their target price on MeridianLink from $19.00 to $16.00 and set an "underweight" rating on the stock in a research note on Monday, April 14th. William Blair reissued an "outperform" rating on shares of MeridianLink in a report on Friday, March 7th. UBS Group reduced their price target on MeridianLink from $25.50 to $20.50 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Citigroup reduced their price target on MeridianLink from $24.00 to $20.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. Finally, Raymond James cut their target price on MeridianLink from $28.00 to $24.00 and set an "outperform" rating for the company in a research report on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $19.42.

MeridianLink Price Performance

The firm has a market capitalization of $1.22 billion, a P/E ratio of -23.52 and a beta of 0.93. The firm has a 50 day moving average price of $16.71 and a 200-day moving average price of $18.81. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 1.11.

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 return on equity of 9.57% and a negative net margin of 16.57%. MeridianLink's revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.06 earnings per share. On average, analysts expect that MeridianLink, Inc. will post -0.35 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MLNK. Rhumbline Advisers increased its holdings in shares of MeridianLink by 10.0% in the 4th quarter. Rhumbline Advisers now owns 48,629 shares of the company's stock valued at $1,004,000 after acquiring an additional 4,404 shares during the period. Proficio Capital Partners LLC purchased a new stake in MeridianLink during the 4th quarter valued at about $234,000. Charles Schwab Investment Management Inc. grew its stake in MeridianLink by 9.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 239,032 shares of the company's stock valued at $4,936,000 after purchasing an additional 20,928 shares during the last quarter. Victory Capital Management Inc. acquired a new position in shares of MeridianLink in the 4th quarter valued at about $29,461,000. Finally, AlphaQuest LLC acquired a new position in shares of MeridianLink in the 4th quarter valued at about $421,000. 82.65% of the stock is currently owned by hedge funds and other institutional investors.

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.