MoneyLion (NYSE:ML) Shares Gap Up on Analyst Upgrade

MoneyLion Inc. (NYSE:ML) shares gapped up before the market opened on Monday after Lake Street Capital raised their price target on the stock from $75.00 to $109.00. The stock had previously closed at $78.64, but opened at $80.94. Lake Street Capital currently has a buy rating on the stock. MoneyLion shares last traded at $81.03, with a volume of 11,598 shares changing hands.

Several other brokerages have also commented on ML. Needham & Company LLC assumed coverage on MoneyLion in a report on Wednesday, April 3rd. They set a “buy” rating and a $90.00 price objective for the company. TheStreet raised MoneyLion from a “d” rating to a “c-” rating in a report on Thursday, March 7th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $66.60.

Insiders Place Their Bets

In other MoneyLion news, CEO Diwakar Choubey sold 20,207 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $65.08, for a total value of $1,315,071.56. Following the completion of the sale, the chief executive officer now owns 805,362 shares of the company’s stock, valued at $52,412,958.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Matthew Derella sold 3,475 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $65.69, for a total transaction of $228,272.75. Following the completion of the sale, the director now owns 10,352 shares of the company’s stock, valued at $680,022.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Diwakar Choubey sold 20,207 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $65.08, for a total value of $1,315,071.56. Following the sale, the chief executive officer now directly owns 805,362 shares of the company’s stock, valued at approximately $52,412,958.96. The disclosure for this sale can be found here. Insiders sold a total of 149,111 shares of company stock valued at $9,789,064 over the last quarter. 14.10% of the stock is owned by corporate insiders.

Institutional Trading of MoneyLion

A number of institutional investors have recently made changes to their positions in the stock. EAM Investors LLC bought a new position in shares of MoneyLion during the third quarter valued at approximately $1,145,000. HighTower Advisors LLC raised its holdings in shares of MoneyLion by 15.8% during the third quarter. HighTower Advisors LLC now owns 37,346 shares of the company’s stock valued at $808,000 after acquiring an additional 5,100 shares in the last quarter. Orion Capital Management LLC bought a new position in shares of MoneyLion during the third quarter valued at approximately $50,000. Manatuck Hill Partners LLC bought a new position in MoneyLion in the third quarter worth $1,407,000. Finally, SVB Financial Group bought a new position in MoneyLion in the fourth quarter worth $46,000. Hedge funds and other institutional investors own 31.43% of the company’s stock.

MoneyLion Stock Down 7.9 %

The business has a fifty day simple moving average of $61.62 and a 200-day simple moving average of $47.36. The firm has a market cap of $762.17 million, a P/E ratio of -15.13 and a beta of 2.71.

MoneyLion (NYSE:ML) last posted its quarterly earnings data on Thursday, March 7th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.20. The business had revenue of $112.96 million during the quarter, compared to the consensus estimate of $113.50 million. MoneyLion had a negative return on equity of 11.19% and a negative net margin of 10.69%. During the same quarter in the prior year, the company earned ($3.00) earnings per share. On average, sell-side analysts anticipate that MoneyLion Inc. will post -0.06 EPS for the current fiscal year.

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.