MoneyLion (NYSE:ML) Trading Down 5% – Here’s Why

MoneyLion Inc. (NYSE:ML) shares were down 5% on Monday . The company traded as low as $86.59 and last traded at $87.11. Approximately 27,253 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 201,283 shares. The stock had previously closed at $91.70.

Analyst Ratings Changes

ML has been the subject of a number of recent research reports. Oppenheimer raised MoneyLion from a “market perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research note on Thursday, November 7th. Cantor Fitzgerald upgraded shares of MoneyLion to a “strong-buy” rating in a research report on Thursday, October 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of MoneyLion in a report on Tuesday, November 26th. Northland Capmk upgraded shares of MoneyLion to a “strong-buy” rating in a report on Wednesday, October 16th. Finally, Northland Securities upped their price objective on MoneyLion from $80.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Six equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, MoneyLion currently has an average rating of “Buy” and a consensus target price of $97.86.

MoneyLion Stock Down 4.6 %

The stock has a fifty day moving average of $56.82 and a 200-day moving average of $62.52. The stock has a market capitalization of $970.67 million, a PE ratio of 397.59 and a beta of 2.67.

Insider Buying and Selling at MoneyLion

In related news, CAO Mark Torossian sold 328 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $80.00, for a total transaction of $26,240.00. Following the completion of the sale, the chief accounting officer now owns 20,409 shares in the company, valued at $1,632,720. The trade was a 1.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Adam Vanwagner sold 2,994 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $79.40, for a total transaction of $237,723.60. Following the sale, the insider now directly owns 90,635 shares in the company, valued at approximately $7,196,419. The trade was a 3.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,680 shares of company stock valued at $4,120,514. Insiders own 11.90% of the company’s stock.

Hedge Funds Weigh In On MoneyLion

A number of hedge funds have recently modified their holdings of the business. Marshall Wace LLP boosted its stake in shares of MoneyLion by 24.1% during the second quarter. Marshall Wace LLP now owns 240,352 shares of the company’s stock worth $17,675,000 after buying an additional 46,611 shares during the period. Vanguard Group Inc. grew its stake in shares of MoneyLion by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 232,591 shares of the company’s stock valued at $16,588,000 after purchasing an additional 3,107 shares during the last quarter. Driehaus Capital Management LLC increased its holdings in shares of MoneyLion by 77.1% in the second quarter. Driehaus Capital Management LLC now owns 221,488 shares of the company’s stock valued at $16,288,000 after purchasing an additional 96,433 shares during the period. Renaissance Technologies LLC raised its stake in shares of MoneyLion by 64.2% during the second quarter. Renaissance Technologies LLC now owns 214,129 shares of the company’s stock worth $15,747,000 after purchasing an additional 83,700 shares during the last quarter. Finally, Divisadero Street Capital Management LP purchased a new stake in shares of MoneyLion during the second quarter worth approximately $13,427,000. 31.43% of the stock is currently owned by hedge funds and other institutional investors.

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.