Millennium Management LLC Sells 86,381 Shares of MoneyLion Inc. (NYSE:ML)

Millennium Management LLC lessened its stake in MoneyLion Inc. (NYSE:ML) by 60.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 56,360 shares of the company’s stock after selling 86,381 shares during the period. Millennium Management LLC owned about 0.54% of MoneyLion worth $4,145,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ML. EntryPoint Capital LLC bought a new stake in shares of MoneyLion in the 1st quarter worth approximately $70,000. Fiducient Advisors LLC bought a new stake in MoneyLion in the second quarter valued at about $204,000. Commonwealth Equity Services LLC acquired a new position in MoneyLion in the second quarter worth about $227,000. SG Americas Securities LLC bought a new position in MoneyLion during the first quarter worth about $236,000. Finally, Private Ocean LLC acquired a new stake in MoneyLion during the second quarter valued at approximately $238,000. 31.43% of the stock is owned by institutional investors and hedge funds.

MoneyLion Price Performance

ML opened at $41.69 on Friday. MoneyLion Inc. has a one year low of $17.40 and a one year high of $106.82. The company’s 50 day simple moving average is $43.21 and its 200-day simple moving average is $64.95. The stock has a market capitalization of $457.34 million, a P/E ratio of 595.57 and a beta of 2.69.

MoneyLion (NYSE:ML) last released its quarterly 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 net margin of 0.40% and a return on equity of 0.72%. The business had revenue of $130.90 million for the quarter, compared to analysts’ expectations of $127.03 million. During the same period in the prior year, the firm earned ($0.42) earnings per share. MoneyLion’s revenue was up 22.9% compared to the same quarter last year. As a group, analysts anticipate that MoneyLion Inc. will post 1.33 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ML shares. B. Riley reissued a “buy” rating and issued a $133.00 target price on shares of MoneyLion in a report on Tuesday, June 25th. Oppenheimer started coverage on MoneyLion in a research note on Tuesday, October 1st. They set a “market perform” rating for the company. Needham & Company LLC restated a “buy” rating and issued a $70.00 target price on shares of MoneyLion in a research note on Friday, October 4th. Finally, Cantor Fitzgerald upgraded shares of MoneyLion to a “strong-buy” rating in a research report on Thursday, October 3rd. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $95.00.

Insider Activity at MoneyLion

In related news, CAO Mark Torossian sold 811 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 21,395 shares in the company, valued at $964,914.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other MoneyLion news, CEO Diwakar Choubey sold 17,647 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $86.56, for a total value of $1,527,524.32. Following the sale, the chief executive officer now directly owns 736,513 shares in the company, valued at approximately $63,752,565.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Mark Torossian sold 811 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $45.10, for a total transaction of $36,576.10. Following the completion of the sale, the chief accounting officer now owns 21,395 shares in the company, valued at approximately $964,914.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,737 shares of company stock worth $4,028,078 over the last ninety days. Company insiders own 11.90% of the company’s stock.

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.