Brokerages Set MoneyLion Inc. (NYSE:ML) Target Price at $90.71

Shares of MoneyLion Inc. (NYSE:ML) have earned an average rating of “Buy” from the eight brokerages that are presently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $90.71.

Several brokerages have commented on ML. Northland Capmk upgraded shares of MoneyLion to a “strong-buy” rating in a research note on Wednesday, October 16th. Northland Securities upped their price target on shares of MoneyLion from $60.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Cantor Fitzgerald raised MoneyLion to a “strong-buy” rating in a research report on Thursday, October 3rd. Oppenheimer raised MoneyLion from a “market perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a report on Thursday, November 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 target price on shares of MoneyLion in a report on Friday, October 4th.

MoneyLion Stock Up 2.7 %

MoneyLion stock opened at $81.13 on Thursday. The stock has a 50-day moving average price of $49.04 and a 200 day moving average price of $62.03. The company has a market capitalization of $889.83 million, a price-to-earnings ratio of 368.77 and a beta of 2.67. MoneyLion has a 52 week low of $31.76 and a 52 week high of $106.82.

Insider Activity

In related news, CEO Diwakar Choubey sold 20,133 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $80.11, for a total value of $1,612,854.63. Following the transaction, the chief executive officer now directly owns 690,825 shares of the company’s stock, valued at approximately $55,341,990.75. This trade represents a 2.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Adam Vanwagner sold 6,972 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was 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 trade represents a 6.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,686 shares of company stock worth $3,882,790 over the last three months. 11.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Covestor Ltd boosted its position in MoneyLion by 63.6% during the third quarter. Covestor Ltd now owns 656 shares of the company’s stock worth $27,000 after acquiring an additional 255 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of MoneyLion in the third quarter valued at approximately $40,000. FMR LLC increased its holdings in shares of 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 purchasing an additional 637 shares during the last quarter. EntryPoint Capital LLC purchased a new position in MoneyLion during the first quarter worth approximately $70,000. Finally, Quest Partners LLC lifted its position in MoneyLion by 3,016.7% during the third quarter. Quest Partners LLC now owns 3,927 shares of the company’s stock worth $163,000 after buying an additional 3,801 shares in the last quarter. Hedge funds and other institutional investors own 31.43% of the company’s stock.

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.