Covestor Ltd Purchases 255 Shares of MoneyLion Inc. (NYSE:ML)

Covestor Ltd grew its position in MoneyLion Inc. (NYSE:ML) by 63.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 656 shares of the company’s stock after purchasing an additional 255 shares during the quarter. Covestor Ltd’s holdings in MoneyLion were worth $27,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of ML. Divisadero Street Capital Management LP bought a new position in shares of MoneyLion in the second quarter worth approximately $13,427,000. Bank of Montreal Can boosted its position in shares of MoneyLion by 2,060.1% in the second quarter. Bank of Montreal Can now owns 103,470 shares of the company’s stock worth $7,864,000 after purchasing an additional 98,680 shares during the period. Driehaus Capital Management LLC boosted its position 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 worth $16,288,000 after purchasing an additional 96,433 shares during the period. Renaissance Technologies LLC boosted its position in shares of MoneyLion by 64.2% in 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 period. Finally, Hood River Capital Management LLC bought a new position in shares of MoneyLion in the first quarter worth approximately $3,742,000. 31.43% of the stock is currently owned by institutional investors.

Insider Activity at MoneyLion

In other news, insider Adam Vanwagner sold 6,972 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $80.11, for a total value of $558,526.92. Following the sale, the insider now owns 93,629 shares of the company’s stock, valued at approximately $7,500,619.19. This represents a 6.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Timmie Hong sold 2,504 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $48.35, for a total transaction of $121,068.40. Following the completion of the sale, the insider now directly owns 103,353 shares in the company, valued at approximately $4,997,117.55. This represents a 2.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,686 shares of company stock valued at $3,882,790 over the last 90 days. 11.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ML has been the subject of a number of recent analyst reports. Northland Securities upped their price target on shares of MoneyLion from $60.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Northland Capmk upgraded shares of MoneyLion to a “strong-buy” rating in a research report on Wednesday, October 16th. Cantor Fitzgerald upgraded shares of MoneyLion to a “strong-buy” rating in a research report on Thursday, October 3rd. Needham & Company LLC restated a “buy” rating and set a $70.00 target price on shares of MoneyLion in a research report on Friday, October 4th. Finally, Oppenheimer upgraded shares of MoneyLion from a “market perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research report on Thursday, November 7th. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, MoneyLion presently has a consensus rating of “Buy” and an average target price of $90.71.

MoneyLion Stock Down 1.4 %

MoneyLion stock opened at $78.97 on Friday. The company has a market cap of $866.30 million, a price-to-earnings ratio of 358.95 and a beta of 2.67. The firm’s fifty day moving average is $48.21 and its 200 day moving average is $62.01. MoneyLion Inc. has a 52-week low of $30.81 and a 52-week high of $106.82.

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.