Los Angeles Capital Management LLC Buys New Position in MoneyLion Inc. (NYSE:ML)

Los Angeles Capital Management LLC purchased a new position in shares of MoneyLion Inc. (NYSE:ML) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,520 shares of the company’s stock, valued at approximately $894,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Covestor Ltd increased its stake in MoneyLion by 63.6% during the 3rd quarter. Covestor Ltd now owns 656 shares of the company’s stock worth $27,000 after buying an additional 255 shares during the period. EntryPoint Capital LLC acquired a new position in shares of MoneyLion in the first quarter worth $70,000. Fiducient Advisors LLC purchased a new stake in shares of MoneyLion during the second quarter worth $204,000. Commonwealth Equity Services LLC acquired a new stake in shares of MoneyLion in the second quarter valued at $227,000. Finally, SG Americas Securities LLC purchased a new position in MoneyLion in the first quarter valued at $236,000. 31.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ML has been the topic of a number of analyst reports. Northland Securities increased their price target on MoneyLion from $60.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Cantor Fitzgerald upgraded shares of MoneyLion to a “strong-buy” rating in a research note on Thursday, October 3rd. Needham & Company LLC reiterated a “buy” rating and set a $70.00 price target on shares of MoneyLion in a report on Friday, October 4th. Oppenheimer upgraded shares of MoneyLion from a “market perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a report on Thursday, November 7th. Finally, Northland Capmk upgraded shares of 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 stock. Based on data from MarketBeat.com, MoneyLion presently has a consensus rating of “Buy” and a consensus target price of $90.71.

MoneyLion Price Performance

Shares of NYSE:ML opened at $78.97 on Friday. MoneyLion Inc. has a 12 month low of $30.81 and a 12 month high of $106.82. The firm has a market capitalization of $866.30 million, a P/E ratio of 358.95 and a beta of 2.67. The company’s fifty day moving average price is $48.21 and its 200 day moving average price is $62.01.

Insiders Place Their Bets

In other MoneyLion news, CAO Mark Torossian sold 328 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $80.00, for a total transaction of $26,240.00. Following the transaction, the chief accounting officer now directly owns 20,409 shares of the company’s stock, valued at approximately $1,632,720. This trade represents a 1.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Adam Vanwagner sold 6,165 shares of the firm’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 transaction, the insider now directly owns 103,133 shares in the company, valued at approximately $7,219,310. This represents a 5.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,686 shares of company stock valued at $3,882,790. 11.90% of the stock is currently owned by insiders.

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.