Driehaus Capital Management LLC Grows Holdings in MoneyLion Inc. (NYSE:ML)

Driehaus Capital Management LLC grew its stake in MoneyLion Inc. (NYSE:ML) by 77.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 221,488 shares of the company’s stock after buying an additional 96,433 shares during the period. Driehaus Capital Management LLC owned approximately 2.11% of MoneyLion worth $16,288,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. The Manufacturers Life Insurance Company purchased a new position in MoneyLion in the 2nd quarter worth approximately $241,000. Dark Forest Capital Management LP bought a new stake in shares of MoneyLion in the 2nd quarter worth approximately $254,000. Squarepoint Ops LLC lifted its holdings in shares of MoneyLion by 14.3% in the 2nd quarter. Squarepoint Ops LLC now owns 45,293 shares of the company’s stock worth $3,331,000 after acquiring an additional 5,656 shares during the last quarter. Marshall Wace LLP lifted 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. Finally, Bank of Montreal Can lifted its holdings in shares of MoneyLion by 2,060.1% in the 2nd quarter. Bank of Montreal Can now owns 103,470 shares of the company’s stock worth $7,864,000 after acquiring an additional 98,680 shares during the last quarter. Hedge funds and other institutional investors own 31.43% of the company’s stock.

Wall Street Analyst Weigh In

ML has been the subject of a number of recent research reports. Needham & Company LLC lowered their price objective on shares of MoneyLion from $100.00 to $70.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. B. Riley restated a “buy” rating and issued a $133.00 price objective on shares of MoneyLion in a report on Tuesday, June 25th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $95.00.

MoneyLion Stock Up 3.2 %

NYSE:ML opened at $40.39 on Friday. The company has a fifty day moving average of $48.84 and a 200 day moving average of $66.86. MoneyLion Inc. has a 52 week low of $17.40 and a 52 week high of $106.82. The firm has a market capitalization of $424.82 million, a P/E ratio of -13.93 and a beta of 2.70.

MoneyLion (NYSE:ML) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.27. MoneyLion had a net margin of 0.40% and a return on equity of 0.72%. The business had revenue of $130.90 million during the quarter, compared to analyst estimates of $127.03 million. During the same period in the prior year, the business earned ($0.42) EPS. The company’s revenue for the quarter was up 22.9% on a year-over-year basis. As a group, analysts anticipate that MoneyLion Inc. will post 1.4 EPS for the current year.

Insiders Place Their Bets

In other MoneyLion news, CAO Mark Torossian sold 811 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $45.10, for a total value of $36,576.10. Following the completion of the transaction, the chief accounting officer now directly owns 21,395 shares in the company, valued at approximately $964,914.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other MoneyLion news, CAO Mark Torossian sold 811 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $45.10, for a total value of $36,576.10. Following the completion of the transaction, the chief accounting officer now directly owns 21,395 shares in the company, valued at approximately $964,914.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Timmie Hong sold 2,334 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $42.34, for a total transaction of $98,821.56. Following the completion of the transaction, the insider now owns 105,857 shares of the company’s stock, valued at $4,481,985.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,737 shares of company stock worth $4,028,078. 14.10% of the stock is currently owned by corporate insiders.

MoneyLion Company Profile

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.