MoneyLion (NYSE:ML) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of MoneyLion (NYSE:ML) in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has a $100.00 price target on the stock.

A number of other analysts have also issued reports on the stock. Northland Capmk upgraded shares of MoneyLion to a “strong-buy” rating in a research note on Wednesday, October 16th. Oppenheimer raised 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. Cantor Fitzgerald upgraded shares of MoneyLion to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, Northland Securities raised their target price on MoneyLion from $60.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $97.86.

MoneyLion Stock Performance

Shares of NYSE:ML opened at $86.56 on Tuesday. The business’s 50-day simple moving average is $54.99 and its 200 day simple moving average is $62.53. The company has a market cap of $960.90 million, a P/E ratio of 393.45 and a beta of 2.67. MoneyLion has a one year low of $36.26 and a one year high of $106.82.

Insider Buying and Selling

In other news, CEO Diwakar Choubey sold 20,133 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 transaction of $1,612,854.63. Following the completion of the transaction, the chief executive officer now directly owns 690,825 shares in the company, valued at approximately $55,341,990.75. The trade was a 2.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Adam Vanwagner sold 6,972 shares of MoneyLion 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 directly owns 93,629 shares in the company, valued at $7,500,619.19. The trade was a 6.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,680 shares of company stock valued at $4,120,514 in the last quarter. Company insiders own 11.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ML. Divisadero Street Capital Management LP acquired a new position in shares of MoneyLion during the 2nd quarter valued at $13,427,000. Bank of Montreal Can grew its holdings in MoneyLion by 2,060.1% during the second quarter. Bank of Montreal Can now owns 103,470 shares of the company’s stock worth $7,864,000 after acquiring an additional 98,680 shares during the period. Driehaus Capital Management LLC raised its position in 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 acquiring an additional 96,433 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in 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 acquiring an additional 83,700 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in shares of MoneyLion by 24.1% during the 2nd 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 in the last quarter. 31.43% of the stock is currently owned by institutional investors.

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.