MoneyLion’s (ML) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of MoneyLion (NYSE:ML) in a research note issued to investors on Tuesday,Benzinga reports. Needham & Company LLC currently has a $100.00 target price on the stock.

A number of other equities research analysts have also issued reports on the company. Cantor Fitzgerald raised MoneyLion to a “strong-buy” rating in a research note on Thursday, October 3rd. Northland Capmk upgraded MoneyLion to a “strong-buy” rating in a research report on Wednesday, October 16th. Northland Securities lifted their price objective on MoneyLion from $60.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Oppenheimer raised shares of MoneyLion from a “market perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research note on Thursday, November 7th. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, MoneyLion has a consensus rating of “Buy” and a consensus target price of $97.86.

MoneyLion Price Performance

Shares of NYSE ML opened at $86.56 on Tuesday. The firm’s 50-day moving average is $54.99 and its two-hundred day moving average is $62.53. The company has a market capitalization of $960.90 million, a PE ratio of 393.45 and a beta of 2.67. MoneyLion has a 12-month low of $36.26 and a 12-month high of $106.82.

Insider Buying and Selling

In related news, CEO Diwakar Choubey sold 5,422 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $90.02, for a total value of $488,088.44. Following the completion of the sale, the chief executive officer now directly owns 710,958 shares in the company, valued at approximately $64,000,439.16. The trade was a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $80.00, for a total transaction of $26,240.00. Following the transaction, the chief accounting officer now directly owns 20,409 shares of the company’s stock, valued at $1,632,720. This trade represents a 1.58 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,680 shares of company stock worth $4,120,514. 11.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Covestor Ltd increased its stake in MoneyLion by 63.6% during the third quarter. Covestor Ltd now owns 656 shares of the company’s stock worth $27,000 after acquiring an additional 255 shares during the last quarter. ClariVest Asset Management LLC increased its position in MoneyLion by 2.6% during the 2nd quarter. ClariVest Asset Management LLC now owns 10,175 shares of the company’s stock worth $748,000 after purchasing an additional 257 shares in the last quarter. FMR LLC raised its holdings in MoneyLion by 154.6% in the third quarter. FMR LLC now owns 1,049 shares of the company’s stock valued at $44,000 after buying an additional 637 shares during the period. Point72 DIFC Ltd purchased a new position in MoneyLion in the third quarter valued at approximately $40,000. Finally, GSA Capital Partners LLP lifted its position in MoneyLion by 10.4% during the third quarter. GSA Capital Partners LLP now owns 14,427 shares of the company’s stock valued at $599,000 after buying an additional 1,360 shares in the last quarter. 31.43% of the stock is owned by hedge funds and other institutional investors.

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.