Covestor Ltd Purchases 255 Shares of MoneyLion Inc. (NYSE:ML)

Covestor Ltd boosted its position in MoneyLion Inc. (NYSE:ML) by 63.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 656 shares of the company’s stock after acquiring an additional 255 shares during the period. Covestor Ltd’s holdings in MoneyLion were worth $27,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new stake in shares of MoneyLion during the 1st quarter valued at about $70,000. Fiducient Advisors LLC bought a new stake in shares of MoneyLion during the 2nd quarter valued at about $204,000. Commonwealth Equity Services LLC bought a new stake in shares of MoneyLion during the 2nd quarter valued at about $227,000. Private Ocean LLC bought a new stake in MoneyLion during the second quarter worth about $238,000. Finally, The Manufacturers Life Insurance Company bought a new stake in MoneyLion during the second quarter worth about $241,000. Institutional investors own 31.43% of the company’s stock.

Insider Activity

In other MoneyLion news, insider Timmie Hong sold 2,504 shares of the company’s 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 completion of the sale, the insider now directly owns 103,353 shares of the company’s stock, valued at approximately $4,997,117.55. This represents a 2.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mark Torossian sold 328 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $80.00, for a total transaction of $26,240.00. Following the sale, the chief accounting officer now directly owns 20,409 shares of the company’s stock, valued at approximately $1,632,720. This represents a 1.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,686 shares of company stock valued at $3,882,790 over the last three months. Insiders own 11.90% of the company’s stock.

Wall Street Analysts Forecast Growth

ML has been the topic of several research reports. Northland Securities boosted their price objective on shares of MoneyLion from $60.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Oppenheimer raised shares of MoneyLion from a “market perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research note on Thursday, November 7th. Needham & Company LLC reissued a “buy” rating and set a $70.00 price objective on shares of MoneyLion in a research note on Friday, October 4th. Cantor Fitzgerald raised shares of MoneyLion to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, Northland Capmk raised shares of MoneyLion to a “strong-buy” rating in a research note on Wednesday, October 16th. Six research 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, the stock has an average rating of “Buy” and an average target price of $90.71.

MoneyLion Stock Down 1.4 %

ML opened at $78.97 on Friday. The firm has a 50 day moving average price of $48.21 and a 200-day moving average price of $62.01. MoneyLion Inc. has a twelve month low of $30.81 and a twelve month high of $106.82. The stock has a market capitalization of $866.30 million, a price-to-earnings ratio of 358.95 and a beta of 2.67.

MoneyLion Company Profile

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.