MoneyLion Inc. (NYSE:ML) Sees Significant Drop in Short Interest

MoneyLion Inc. (NYSE:ML) saw a significant decrease in short interest in the month of December. As of December 15th, there was short interest totalling 261,800 shares, a decrease of 28.0% from the November 30th total of 363,800 shares. Based on an average daily trading volume, of 257,000 shares, the short-interest ratio is currently 1.0 days. Currently, 3.9% of the company’s stock are short sold.

Insiders Place Their Bets

In other news, insider Timmie Hong sold 6,094 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $86.84, for a total transaction of $529,202.96. Following the completion of the sale, the insider now owns 86,015 shares in the company, valued at approximately $7,469,542.60. This represents a 6.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Adam Vanwagner sold 6,165 shares of the firm’s stock in a transaction on 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 directly owns 103,133 shares of the company’s stock, valued at $7,219,310. The trade was a 5.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,632 shares of company stock worth $9,428,405 over the last 90 days. Company insiders own 11.90% of the company’s stock.

Hedge Funds Weigh In On MoneyLion

Institutional investors have recently modified their holdings of the stock. Covestor Ltd lifted its stake in shares of MoneyLion by 63.6% in the 3rd quarter. Covestor Ltd now owns 656 shares of the company’s stock valued at $27,000 after purchasing an additional 255 shares during the period. ClariVest Asset Management LLC raised its position in shares of MoneyLion by 2.6% in the second quarter. ClariVest Asset Management LLC now owns 10,175 shares of the company’s stock worth $748,000 after acquiring an additional 257 shares during the period. FMR LLC boosted its stake in shares of MoneyLion by 154.6% during the 3rd quarter. FMR LLC now owns 1,049 shares of the company’s stock worth $44,000 after acquiring an additional 637 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of MoneyLion during the 3rd quarter valued at about $40,000. Finally, GSA Capital Partners LLP increased its stake in shares of MoneyLion by 10.4% in the 3rd quarter. GSA Capital Partners LLP now owns 14,427 shares of the company’s stock valued at $599,000 after purchasing an additional 1,360 shares in the last quarter. Hedge funds and other institutional investors own 31.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ML. Cantor Fitzgerald raised shares of MoneyLion to a “strong-buy” rating in a research report on Thursday, October 3rd. Northland Securities raised their price target on shares of MoneyLion from $80.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Northland Capmk upgraded shares of MoneyLion to a “strong-buy” rating in a research note on Wednesday, October 16th. Oppenheimer raised MoneyLion from a “market perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Thursday, November 7th. Finally, Needham & Company LLC reaffirmed a “hold” rating and set a $100.00 price target on shares of MoneyLion in a research report on Wednesday, December 11th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, MoneyLion currently has a consensus rating of “Buy” and a consensus target price of $100.00.

MoneyLion Stock Performance

NYSE ML traded down $0.82 on Friday, reaching $86.58. 206,879 shares of the company’s stock traded hands, compared to its average volume of 214,887. MoneyLion has a fifty-two week low of $36.65 and a fifty-two week high of $106.82. The firm has a market cap of $961.12 million, a price-to-earnings ratio of 393.55 and a beta of 3.07. The stock has a 50 day moving average price of $74.61 and a 200-day moving average price of $62.38.

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.