MoneyLion (NYSE:ML) Coverage Initiated at Northland Securities

Northland Securities assumed coverage on shares of MoneyLion (NYSE:ML) in a research report released on Wednesday, Benzinga reports. The brokerage issued an outperform rating and a $60.00 price objective on the stock.

A number of other equities research analysts also recently issued reports on ML. Needham & Company LLC reiterated a “buy” rating and issued a $70.00 price objective on shares of MoneyLion in a research report on Friday, October 4th. B. Riley reaffirmed a “buy” rating and issued a $133.00 price target on shares of MoneyLion in a report on Tuesday, June 25th. Oppenheimer began coverage on MoneyLion in a report on Tuesday, October 1st. They set a “market perform” rating for the company. Finally, Cantor Fitzgerald upgraded shares of MoneyLion to a “strong-buy” rating in a research report on Thursday, October 3rd. One research analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, MoneyLion has an average rating of “Buy” and an average price target of $89.17.

MoneyLion Stock Down 3.9 %

Shares of ML opened at $46.43 on Wednesday. MoneyLion has a twelve month low of $17.40 and a twelve month high of $106.82. The stock has a market cap of $488.35 million, a PE ratio of -16.01 and a beta of 2.69. The business’s 50-day moving average price is $42.94 and its 200-day moving average price is $64.12.

MoneyLion (NYSE:ML) last posted its earnings results on Tuesday, August 6th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.27. MoneyLion had a net margin of 0.40% and a return on equity of 0.72%. The business had revenue of $130.90 million for the quarter, compared to analyst estimates of $127.03 million. During the same quarter in the prior year, the firm posted ($0.42) EPS. MoneyLion’s revenue was up 22.9% on a year-over-year basis. Analysts expect that MoneyLion will post 1.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MoneyLion news, Director John C. Chrystal purchased 5,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were purchased at an average cost of $47.07 per share, with a total value of $235,350.00. Following the completion of the purchase, the director now owns 44,967 shares of the company’s stock, valued at $2,116,596.69. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Richard Correia sold 13,138 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $45.10, for a total value of $592,523.80. Following the completion of the sale, the chief financial officer now owns 219,187 shares of the company’s stock, valued at approximately $9,885,333.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John C. Chrystal purchased 5,000 shares of MoneyLion stock in a transaction that occurred on Thursday, August 8th. The shares were bought at an average price of $47.07 per share, for a total transaction of $235,350.00. Following the completion of the transaction, the director now owns 44,967 shares in the company, valued at $2,116,596.69. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 44,059 shares of company stock valued at $1,988,757 over the last quarter. 14.10% of the stock is owned by corporate insiders.

Institutional Trading of MoneyLion

A number of institutional investors have recently made changes to their positions in the stock. B. Riley Wealth Advisors Inc. purchased a new position in shares of MoneyLion in the second quarter worth $289,000. Driehaus Capital Management LLC increased its position in shares of MoneyLion by 77.1% in the second quarter. Driehaus Capital Management LLC now owns 221,488 shares of the company’s stock valued at $16,288,000 after acquiring an additional 96,433 shares during the period. The Manufacturers Life Insurance Company purchased a new position in shares of MoneyLion in the second quarter valued at about $241,000. Dark Forest Capital Management LP bought a new position in shares of MoneyLion during the second quarter valued at about $254,000. Finally, Squarepoint Ops LLC boosted its holdings in shares of MoneyLion by 14.3% during the second quarter. Squarepoint Ops LLC now owns 45,293 shares of the company’s stock worth $3,331,000 after purchasing an additional 5,656 shares during the period. 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.