Oppenheimer Upgrades MoneyLion (NYSE:ML) to Outperform

MoneyLion (NYSE:ML) was upgraded by research analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a note issued to investors on Thursday, MarketBeat Ratings reports. The firm currently has a $80.00 target price on the stock. Oppenheimer’s price objective would suggest a potential upside of 18.03% from the stock’s previous close.

A number of other equities research analysts also recently commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $70.00 price objective on shares of MoneyLion in a research report on Friday, October 4th. Cantor Fitzgerald raised shares of MoneyLion to a “strong-buy” rating in a research report on Thursday, October 3rd. Northland Capmk raised shares of MoneyLion to a “strong-buy” rating in a research report on Wednesday, October 16th. Finally, Northland Securities initiated coverage on shares of MoneyLion in a research report on Wednesday, October 16th. They issued an “outperform” rating and a $60.00 target price on the stock. 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, MoneyLion presently has a consensus rating of “Buy” and an average price target of $87.86.

MoneyLion Stock Performance

Shares of NYSE:ML traded up $12.32 during trading hours on Thursday, reaching $67.78. The stock had a trading volume of 544,533 shares, compared to its average volume of 198,112. MoneyLion has a 1 year low of $21.88 and a 1 year high of $106.82. The firm’s 50 day moving average is $43.14 and its 200-day moving average is $61.42. The stock has a market capitalization of $743.55 million, a price-to-earnings ratio of 956.57 and a beta of 2.67.

MoneyLion (NYSE:ML) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.26 EPS for the quarter, beating 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 company had revenue of $130.90 million for the quarter, compared to the consensus estimate of $127.03 million. During the same period in the prior year, the firm posted ($0.42) EPS. The company’s quarterly revenue was up 22.9% compared to the same quarter last year. Analysts forecast that MoneyLion will post 1.23 EPS for the current year.

Insider Buying and Selling at MoneyLion

In other news, insider Timmie Hong sold 2,504 shares of MoneyLion stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $48.35, for a total transaction of $121,068.40. Following the completion of the sale, the insider now directly owns 103,353 shares in the company, valued at $4,997,117.55. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other MoneyLion news, CAO Mark Torossian sold 811 shares of MoneyLion stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $45.10, for a total transaction of $36,576.10. Following the transaction, the chief accounting officer now directly owns 21,395 shares of the company’s stock, valued at $964,914.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Timmie Hong sold 2,504 shares of MoneyLion stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $48.35, for a total transaction of $121,068.40. Following the transaction, the insider now directly owns 103,353 shares in the company, valued at approximately $4,997,117.55. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 44,059 shares of company stock worth $1,988,757. 11.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Marshall Wace LLP lifted its position in shares of MoneyLion by 24.1% during the second quarter. Marshall Wace LLP now owns 240,352 shares of the company’s stock worth $17,675,000 after purchasing an additional 46,611 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of MoneyLion by 1.4% during the first quarter. Vanguard Group Inc. now owns 232,591 shares of the company’s stock worth $16,588,000 after purchasing an additional 3,107 shares in the last quarter. Driehaus Capital Management LLC lifted its position in shares of MoneyLion by 77.1% during the second quarter. Driehaus Capital Management LLC now owns 221,488 shares of the company’s stock worth $16,288,000 after purchasing an additional 96,433 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of MoneyLion by 64.2% during the second 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 in the last quarter. Finally, Divisadero Street Capital Management LP acquired a new position in shares of MoneyLion during the second quarter worth $13,427,000. 31.43% of the stock is owned by institutional investors and hedge funds.

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.