MoneyLion (NYSE:ML) Shares Gap Up Following Analyst Upgrade

MoneyLion Inc. (NYSE:ML) gapped up before the market opened on Monday after Lake Street Capital raised their price target on the stock from $75.00 to $109.00. The stock had previously closed at $78.64, but opened at $80.94. Lake Street Capital currently has a buy rating on the stock. MoneyLion shares last traded at $81.03, with a volume of 11,598 shares traded.

Several other brokerages also recently commented on ML. Needham & Company LLC began coverage on shares of MoneyLion in a report on Wednesday, April 3rd. They set a “buy” rating and a $90.00 target price on the stock. TheStreet raised shares of MoneyLion from a “d” rating to a “c-” rating in a research note on Thursday, March 7th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, MoneyLion presently has a consensus rating of “Buy” and an average target price of $66.60.

Insider Buying and Selling at MoneyLion

In related news, insider Timmie Hong sold 25,157 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $65.08, for a total value of $1,637,217.56. Following the transaction, the insider now directly owns 131,557 shares of the company’s stock, valued at approximately $8,561,729.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Timmie Hong sold 25,157 shares of MoneyLion stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $65.08, for a total value of $1,637,217.56. Following the completion of the sale, the insider now owns 131,557 shares of the company’s stock, valued at approximately $8,561,729.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Richard Correia sold 87,989 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $65.18, for a total transaction of $5,735,123.02. Following the completion of the transaction, the chief financial officer now directly owns 262,481 shares of the company’s stock, valued at $17,108,511.58. The disclosure for this sale can be found here. Over the last three months, insiders have sold 149,111 shares of company stock valued at $9,789,064. Corporate insiders own 14.10% of the company’s stock.

Institutional Investors Weigh In On MoneyLion

Several large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp bought a new position in shares of MoneyLion in the 1st quarter worth $118,000. HighTower Advisors LLC purchased a new stake in MoneyLion during the first quarter valued at about $130,000. Citigroup Inc. lifted its stake in MoneyLion by 1,056.1% during the first quarter. Citigroup Inc. now owns 23,121 shares of the company’s stock worth $58,000 after purchasing an additional 21,121 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of MoneyLion by 108.2% in the 1st quarter. Vanguard Group Inc. now owns 3,011,296 shares of the company’s stock worth $7,559,000 after purchasing an additional 1,565,022 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in shares of MoneyLion during the first quarter worth approximately $1,315,000. Institutional investors own 31.43% of the company’s stock.

MoneyLion Price Performance

The stock has a 50 day moving average price of $62.17 and a 200-day moving average price of $47.74. The stock has a market capitalization of $791.52 million, a P/E ratio of -15.71 and a beta of 2.71.

MoneyLion (NYSE:ML) last issued its earnings results on Thursday, March 7th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.20. The business had revenue of $112.96 million during the quarter, compared to analysts’ expectations of $113.50 million. MoneyLion had a negative net margin of 10.69% and a negative return on equity of 11.19%. During the same period in the previous year, the company earned ($3.00) earnings per share. Research analysts predict that MoneyLion Inc. will post -0.06 earnings per share for the current fiscal year.

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.