MoneyLion (NYSE:ML) Upgraded by Northland Capmk to Strong-Buy

Northland Capmk upgraded shares of MoneyLion (NYSE:ML) to a strong-buy rating in a research report report published on Wednesday morning, Zacks.com reports.

A number of other research firms also recently weighed in on ML. Cantor Fitzgerald raised shares of MoneyLion to a “strong-buy” rating in a research note on Thursday, October 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 target price on shares of MoneyLion in a research report on Friday, October 4th. Northland Securities initiated coverage on shares of MoneyLion in a research report on Wednesday. They issued an “outperform” rating and a $60.00 target price for the company. Oppenheimer started coverage on MoneyLion in a research report on Tuesday, October 1st. They set a “market perform” rating on the stock. Finally, B. Riley reaffirmed a “buy” rating and set a $133.00 target price on shares of MoneyLion in a report on Tuesday, June 25th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $89.17.

MoneyLion Price Performance

NYSE:ML opened at $48.14 on Wednesday. The firm has a market cap of $506.34 million, a price-to-earnings ratio of -16.60 and a beta of 2.69. The firm’s fifty day moving average price is $42.87 and its 200 day moving average price is $64.39. MoneyLion has a 1-year low of $17.40 and a 1-year high of $106.82.

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

Insiders Place Their Bets

In related news, Director John C. Chrystal bought 5,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were purchased at an average price 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. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Richard Correia sold 13,138 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $45.10, for a total transaction of $592,523.80. Following the transaction, the chief financial officer now directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John C. Chrystal acquired 5,000 shares of the stock in a transaction on Thursday, August 8th. The shares were purchased at an average price of $47.07 per share, for a total transaction of $235,350.00. Following the transaction, the director now directly owns 44,967 shares in the company, valued at approximately $2,116,596.69. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 41,555 shares of company stock worth $1,867,689 over the last quarter. Company insiders own 14.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP increased its holdings in MoneyLion by 24.1% in the second 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 during the period. Vanguard Group Inc. lifted its holdings in shares of MoneyLion by 1.4% in the first quarter. Vanguard Group Inc. now owns 232,591 shares of the company’s stock valued at $16,588,000 after purchasing an additional 3,107 shares in the last quarter. Driehaus Capital Management LLC increased its stake in MoneyLion by 77.1% in the 2nd quarter. Driehaus Capital Management LLC now owns 221,488 shares of the company’s stock valued at $16,288,000 after buying an additional 96,433 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of MoneyLion by 64.2% during the 2nd quarter. Renaissance Technologies LLC now owns 214,129 shares of the company’s stock worth $15,747,000 after purchasing an additional 83,700 shares during the period. Finally, Divisadero Street Capital Management LP bought a new position in MoneyLion during the second quarter valued at $13,427,000. 31.43% of the stock is 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.