MoneyLion (NYSE:ML) Trading Up 8.2% – Here’s What Happened

MoneyLion Inc. (NYSE:ML) shares were up 8.2% during trading on Tuesday . The stock traded as high as $47.96 and last traded at $47.87. Approximately 59,879 shares were traded during trading, a decline of 69% from the average daily volume of 194,331 shares. The stock had previously closed at $44.24.

Analyst Upgrades and Downgrades

ML has been the subject of a number of research reports. Northland Securities assumed coverage on MoneyLion in a research note on Wednesday, October 16th. They issued an “outperform” rating and a $60.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $70.00 price target on shares of MoneyLion in a research report on Friday, October 4th. Oppenheimer raised shares of MoneyLion from a “market perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research report on Thursday. Northland Capmk upgraded shares of MoneyLion to a “strong-buy” rating in a research note on Wednesday, October 16th. Finally, Cantor Fitzgerald upgraded MoneyLion to a “strong-buy” rating in a research report on Thursday, October 3rd. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $87.86.

MoneyLion Stock Performance

The stock’s fifty day simple moving average is $43.14 and its two-hundred day simple moving average is $61.42. The company has a market cap of $759.12 million, a price-to-earnings ratio of 968.29 and a beta of 2.67.

MoneyLion (NYSE:ML) last released its earnings results on Tuesday, August 6th. The company reported $0.26 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.27. MoneyLion had a return on equity of 0.72% and a net margin of 0.40%. The company had revenue of $130.90 million during the quarter, compared to analysts’ expectations of $127.03 million. During the same period in the prior year, the business posted ($0.42) EPS. The business’s revenue was up 22.9% on a year-over-year basis. Analysts predict that MoneyLion Inc. will post 1.23 EPS for the current fiscal year.

Insider Buying and Selling at MoneyLion

In related news, insider Timmie Hong sold 2,504 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $48.35, for a total value of $121,068.40. Following the completion of the transaction, the insider now directly owns 103,353 shares of the company’s stock, valued at $4,997,117.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CAO Mark Torossian sold 811 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $45.10, for a total transaction of $36,576.10. Following the transaction, the chief accounting officer now owns 21,395 shares in the company, valued at $964,914.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Timmie Hong sold 2,504 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $48.35, for a total value of $121,068.40. Following the completion of the sale, the insider now owns 103,353 shares of the company’s stock, valued at $4,997,117.55. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,059 shares of company stock valued at $1,988,757 in the last ninety days. Company insiders own 11.90% of the company’s stock.

Hedge Funds Weigh In On MoneyLion

Several large investors have recently made changes to their positions in ML. Marshall Wace LLP grew its holdings in shares of MoneyLion by 24.1% in the 2nd quarter. Marshall Wace LLP now owns 240,352 shares of the company’s stock worth $17,675,000 after acquiring an additional 46,611 shares during the last quarter. Vanguard Group Inc. increased its stake in MoneyLion by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 232,591 shares of the company’s stock worth $16,588,000 after purchasing an additional 3,107 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in MoneyLion by 77.1% during the 2nd quarter. Driehaus Capital Management LLC now owns 221,488 shares of the company’s stock worth $16,288,000 after buying an additional 96,433 shares during the period. Renaissance Technologies LLC raised its holdings in MoneyLion by 64.2% during the 2nd quarter. Renaissance Technologies LLC now owns 214,129 shares of the company’s stock worth $15,747,000 after buying an additional 83,700 shares during the period. Finally, Divisadero Street Capital Management LP purchased a new stake in MoneyLion during the second quarter valued at about $13,427,000. Institutional investors own 31.43% of the company’s stock.

About MoneyLion

MoneyLion Inc, a financial technology company, provides personalized products and financial content for American consumers. The company's platform offers access to banking, borrowing, and investing solutions for customers. Its principal products include RoarMoney, an insured digital demand deposit account; Instacash, a cash advance product that gives customers early access to their recurring income deposits; Credit Builder Plus membership program; MoneyLion Investing, an online investment account that offers access to separately managed accounts invested based on model exchange-traded fund portfolios; Roundups, which provides features designed to encourage customers to establish good saving and investing habits; and MoneyLion Crypto, an online cryptocurrency account.