MeridianLink (NYSE:MLNK) Hits New 52-Week Low – Should You Sell?

Shares of MeridianLink, Inc. (NYSE:MLNK) reached a new 52-week low on Monday . The stock traded as low as $15.57 and last traded at $15.86, with a volume of 22228 shares traded. The stock had previously closed at $16.61.

Wall Street Analyst Weigh In

MLNK has been the subject of a number of research analyst reports. Citigroup decreased their price objective on shares of MeridianLink from $24.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, March 7th. William Blair reaffirmed an “outperform” rating on shares of MeridianLink in a report on Friday, March 7th. Barclays reduced their price objective on MeridianLink from $20.00 to $19.00 and set an “underweight” rating for the company in a report on Friday, March 7th. Bank of America lowered MeridianLink from a “buy” rating to an “underperform” rating and lowered their target price for the company from $28.00 to $18.00 in a research note on Thursday, January 30th. Finally, Raymond James cut their price target on MeridianLink from $28.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $20.58.

MeridianLink Stock Performance

The company has a 50-day simple moving average of $19.08 and a two-hundred day simple moving average of $20.74. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.86 and a current ratio of 1.86. The firm has a market capitalization of $1.27 billion, a P/E ratio of -24.73 and a beta of 0.96.

Institutional Trading of MeridianLink

Several institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in MeridianLink by 12.2% during the 3rd quarter. Geode Capital Management LLC now owns 603,443 shares of the company’s stock valued at $12,415,000 after buying an additional 65,834 shares during the last quarter. Barclays PLC increased its position in MeridianLink by 342.1% during the third quarter. Barclays PLC now owns 42,399 shares of the company’s stock valued at $872,000 after acquiring an additional 32,808 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in MeridianLink by 24.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 218,104 shares of the company’s stock valued at $4,486,000 after acquiring an additional 42,302 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in MeridianLink by 123.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 398,389 shares of the company’s stock worth $8,227,000 after purchasing an additional 220,240 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new position in MeridianLink in the fourth quarter worth about $384,000. 82.65% of the stock is owned by hedge funds and other 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.