MMCAP International Inc. SPC Acquires New Stake in MoneyLion Inc. (NYSE:ML)

MMCAP International Inc. SPC acquired a new stake in MoneyLion Inc. (NYSE:ML) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 481,747 shares of the company’s stock, valued at approximately $41,435,000. MoneyLion comprises about 6.4% of MMCAP International Inc. SPC’s holdings, making the stock its 3rd largest position. MMCAP International Inc. SPC owned approximately 4.34% of MoneyLion as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Covestor Ltd grew its position in MoneyLion by 63.6% in the 3rd quarter. Covestor Ltd now owns 656 shares of the company’s stock valued at $27,000 after buying an additional 255 shares during the last quarter. New York State Teachers Retirement System purchased a new stake in shares of MoneyLion during the 4th quarter worth $67,000. Point72 DIFC Ltd purchased a new stake in shares of MoneyLion during the 3rd quarter worth $40,000. FMR LLC boosted its position 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 purchasing an additional 637 shares in the last quarter. Finally, PFG Investments LLC purchased a new stake in shares of MoneyLion during the 4th quarter worth $215,000. 31.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at MoneyLion

In other news, CFO Richard Correia sold 3,502 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $85.76, for a total transaction of $300,331.52. Following the completion of the transaction, the chief financial officer now owns 182,570 shares of the company’s stock, valued at $15,657,203.20. This represents a 1.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Mark Torossian sold 1,136 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $87.26, for a total transaction of $99,127.36. Following the transaction, the chief accounting officer now directly owns 17,476 shares of the company’s stock, valued at approximately $1,524,955.76. This represents a 6.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 108,465 shares of company stock valued at $9,486,276. 11.90% of the stock is owned by insiders.

MoneyLion Trading Up 0.6 %

Shares of ML stock opened at $86.00 on Wednesday. The firm has a 50-day moving average price of $86.60 and a 200 day moving average price of $67.00. MoneyLion Inc. has a twelve month low of $36.65 and a twelve month high of $106.82. The company has a market capitalization of $954.69 million, a price-to-earnings ratio of 390.91 and a beta of 3.06.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Oppenheimer upgraded shares of 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. Needham & Company LLC reaffirmed a “hold” rating and set a $100.00 price target on shares of MoneyLion in a research note on Wednesday, December 11th. Lake Street Capital reaffirmed a “hold” rating and set a $82.00 price target (down previously from $109.00) on shares of MoneyLion in a research note on Wednesday, December 11th. Finally, Northland Securities lifted their price target on MoneyLion from $80.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $100.00.

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.