MoneyLion (NYSE:ML) Trading Down 5.9% on Insider Selling

MoneyLion Inc. (NYSE:ML)’s stock price fell 5.9% during trading on Monday after an insider sold shares in the company. The stock traded as low as $75.96 and last traded at $76.18. Approximately 113,527 shares were traded during mid-day trading, a decline of 43% from the average session volume of 200,563 shares. The stock had previously closed at $80.92.

Specifically, CFO Richard Correia sold 5,296 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $60.00, for a total transaction of $317,760.00. Following the transaction, the chief financial officer now owns 213,891 shares in the company, valued at approximately $12,833,460. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mark Torossian sold 328 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $1,632,720. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other MoneyLion news, insider Adam Vanwagner sold 6,165 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $70.00, for a total value of $431,550.00. Following the completion of the sale, the insider now owns 103,133 shares of the company’s stock, valued at $7,219,310. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Analysts Set New Price Targets

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

MoneyLion Stock Up 6.1 %

The stock’s 50-day moving average price is $45.00 and its 200 day moving average price is $61.53. The firm has a market cap of $949.45 million, a price-to-earnings ratio of 393.41 and a beta of 2.67.

Hedge Funds Weigh In On MoneyLion

Several large investors have recently added to or reduced their stakes in the company. Marshall Wace LLP increased its position in shares of MoneyLion by 24.1% during the second quarter. Marshall Wace LLP now owns 240,352 shares of the company’s stock valued at $17,675,000 after purchasing an additional 46,611 shares during the period. Vanguard Group Inc. boosted its stake in MoneyLion by 1.4% during the first quarter. Vanguard Group Inc. now owns 232,591 shares of the company’s stock worth $16,588,000 after buying an additional 3,107 shares in the last quarter. Driehaus Capital Management LLC increased its holdings in MoneyLion by 77.1% in the 2nd quarter. Driehaus Capital Management LLC now owns 221,488 shares of the company’s stock valued at $16,288,000 after buying an additional 96,433 shares during the period. Renaissance Technologies LLC raised its stake in shares of MoneyLion by 64.2% in the 2nd quarter. Renaissance Technologies LLC now owns 214,129 shares of the company’s stock valued at $15,747,000 after buying an additional 83,700 shares in the last quarter. Finally, Divisadero Street Capital Management LP bought a new position in shares of MoneyLion during the 2nd quarter worth about $13,427,000. Institutional investors and hedge funds 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.