Thoma Bravo L.P. Reduces Stock Holdings in MeridianLink, Inc. (NYSE:MLNK)

Thoma Bravo L.P. reduced its position in MeridianLink, Inc. (NYSE:MLNK) by 16.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,582,388 shares of the company’s stock after selling 6,000,000 shares during the period. MeridianLink comprises approximately 7.7% of Thoma Bravo L.P.’s holdings, making the stock its 5th largest position. Thoma Bravo L.P. owned approximately 39.17% of MeridianLink worth $608,510,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in MeridianLink by 32.8% in the 1st quarter. Vanguard Group Inc. now owns 2,756,231 shares of the company’s stock worth $51,542,000 after purchasing an additional 680,872 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of MeridianLink by 23.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 797,074 shares of the company’s stock worth $17,026,000 after acquiring an additional 150,712 shares in the last quarter. SG Capital Management LLC bought a new stake in shares of MeridianLink during the first quarter worth $2,117,000. Seven Grand Managers LLC bought a new stake in MeridianLink during the 3rd quarter worth about $2,057,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of MeridianLink by 24.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 218,104 shares of the company’s stock valued at $4,486,000 after purchasing an additional 42,302 shares in the last quarter. Institutional investors and hedge funds own 82.65% of the company’s stock.

MeridianLink Trading Up 0.4 %

Shares of MeridianLink stock opened at $23.00 on Tuesday. 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 50-day moving average of $22.10 and a 200-day moving average of $21.60. MeridianLink, Inc. has a 52-week low of $16.49 and a 52-week high of $25.88. The stock has a market cap of $1.74 billion, a PE ratio of -34.33 and a beta of 0.98.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on MLNK shares. UBS Group raised shares of MeridianLink from a “sell” rating to a “neutral” rating and raised their price objective for the company from $18.00 to $22.50 in a research note on Monday, November 11th. Raymond James upped their price target on MeridianLink from $26.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Stifel Nicolaus increased their price target on shares of MeridianLink from $18.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, August 9th. Finally, Barclays upped their target price on shares of MeridianLink from $18.00 to $20.00 and gave the company an “underweight” rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $22.90.

Insider Buying and Selling

In other MeridianLink news, major shareholder Thoma Bravo Ugp, Llc sold 6,000,000 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $21.05, for a total value of $126,300,000.00. Following the completion of the transaction, the insider now owns 29,582,388 shares of the company’s stock, valued at $622,709,267.40. This represents a 16.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Timothy Nguyen sold 100,000 shares of MeridianLink stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $23.50, for a total transaction of $2,350,000.00. Following the sale, the insider now owns 10,928,412 shares in the company, valued at approximately $256,817,682. This represents a 0.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,750,000 shares of company stock worth $142,332,500. Company insiders own 21.30% of the company’s stock.

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.