MoneyLion (NYSE:ML) Shares Up 4.7% – Still a Buy?

MoneyLion Inc. (NYSE:ML) rose 4.7% during mid-day trading on Tuesday . The stock traded as high as $85.42 and last traded at $85.40. Approximately 163,520 shares were traded during mid-day trading, a decline of 19% from the average daily volume of 201,705 shares. The stock had previously closed at $81.58.

Analyst Upgrades and Downgrades

ML has been the topic of a number of recent analyst reports. Northland Capmk raised MoneyLion to a “strong-buy” rating in a research note on Wednesday, October 16th. 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 note on Thursday, November 7th. Cantor Fitzgerald upgraded MoneyLion to a “strong-buy” rating in a report on Thursday, October 3rd. Needham & Company LLC reissued a “buy” rating and set a $70.00 target price on shares of MoneyLion in a research report on Friday, October 4th. Finally, Northland Securities raised their price objective on shares of MoneyLion from $60.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, MoneyLion currently has an average rating of “Buy” and an average price target of $90.71.

MoneyLion Price Performance

The company has a 50 day moving average price of $46.69 and a two-hundred day moving average price of $61.80. The stock has a market cap of $878.65 million, a PE ratio of 364.14 and a beta of 2.67.

Insider Buying and Selling

In other news, CFO Richard Correia sold 5,296 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $60.00, for a total transaction of $317,760.00. Following the transaction, the chief financial officer now owns 213,891 shares of the company’s stock, valued at approximately $12,833,460. This represents a 2.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Timmie Hong sold 2,504 shares of MoneyLion stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $48.35, for a total value of $121,068.40. Following the sale, the insider now directly owns 103,353 shares of the company’s stock, valued at approximately $4,997,117.55. This trade represents a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,627 shares of company stock valued at $995,440. 11.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd raised its stake in shares of MoneyLion by 63.6% during the 3rd quarter. Covestor Ltd now owns 656 shares of the company’s stock worth $27,000 after buying an additional 255 shares during the period. FMR LLC lifted its holdings in MoneyLion by 154.6% in the third quarter. FMR LLC now owns 1,049 shares of the company’s stock valued at $44,000 after acquiring an additional 637 shares during the last quarter. EntryPoint Capital LLC acquired a new stake in shares of MoneyLion during the 1st quarter worth about $70,000. Quest Partners LLC raised its stake in shares of MoneyLion by 3,016.7% in the 3rd quarter. Quest Partners LLC now owns 3,927 shares of the company’s stock valued at $163,000 after acquiring an additional 3,801 shares during the period. Finally, Fiducient Advisors LLC acquired a new position in MoneyLion during the second quarter worth $204,000. 31.43% of the stock is owned by institutional investors and hedge funds.

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.