MeridianLink, Inc. (NYSE:MLNK) Short Interest Up 20.5% in March

MeridianLink, Inc. (NYSE:MLNK) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 1,760,000 shares, a growth of 20.5% from the March 15th total of 1,460,000 shares. Based on an average daily volume of 242,900 shares, the days-to-cover ratio is currently 7.2 days. Approximately 6.2% of the shares of the stock are sold short.

MeridianLink Stock Down 3.3 %

Shares of NYSE MLNK opened at $15.94 on Tuesday. MeridianLink has a 52-week low of $15.57 and a 52-week high of $25.33. The business’s 50 day moving average is $18.27 and its two-hundred day moving average is $20.25. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -23.79 and a beta of 0.96. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 1.11.

Institutional Trading of MeridianLink

A number of institutional investors and hedge funds have recently bought and sold shares of MLNK. Russell Investments Group Ltd. boosted its stake 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 buying an additional 802 shares during the period. Summit Investment Advisors Inc. lifted its stake in MeridianLink by 32.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,421 shares of the company’s stock worth $71,000 after acquiring an additional 830 shares during the last quarter. Legal & General Group Plc grew its holdings in MeridianLink by 3.3% during the 4th quarter. Legal & General Group Plc now owns 30,905 shares of the company’s stock worth $638,000 after acquiring an additional 987 shares in the last quarter. Corebridge Financial Inc. raised its holdings in shares of MeridianLink by 12.8% in the 4th quarter. Corebridge Financial Inc. now owns 16,260 shares of the company’s stock valued at $336,000 after purchasing an additional 1,839 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of MeridianLink by 15.7% during the 4th quarter. MetLife Investment Management LLC now owns 19,131 shares of the company’s stock worth $395,000 after purchasing an additional 2,591 shares during the last quarter. 82.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MLNK. William Blair reaffirmed an “outperform” rating on shares of MeridianLink in a report on Friday, March 7th. Bank of America lowered MeridianLink from a “buy” rating to an “underperform” rating and reduced their price target for the stock from $28.00 to $18.00 in a report on Thursday, January 30th. Barclays reduced their target price on shares of MeridianLink from $19.00 to $16.00 and set an “underweight” rating on the stock in a research note on Monday, April 14th. UBS Group cut their price target on shares of MeridianLink from $25.50 to $20.50 and set a “neutral” rating for the company in a report on Tuesday, March 4th. 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 note on Friday, March 7th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.08.

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.