MoneyLion (NYSE:ML) Trading 8.2% Higher – Still a Buy?

MoneyLion Inc. (NYSE:ML) traded up 8.2% on Tuesday . The stock traded as high as $47.96 and last traded at $47.87. 59,879 shares traded hands during trading, a decline of 69% from the average session volume of 194,331 shares. The stock had previously closed at $44.24.

Wall Street Analysts Forecast Growth

ML has been the topic of several recent analyst reports. Northland Securities began coverage on shares of MoneyLion in a research note on Wednesday, October 16th. They set an “outperform” rating and a $60.00 target price on the stock. Northland Capmk raised MoneyLion to a “strong-buy” rating in a research report on Wednesday, October 16th. Needham & Company LLC reissued a “buy” rating and issued a $70.00 price objective on shares of MoneyLion in a research note on Friday, October 4th. Oppenheimer raised MoneyLion from a “market perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research note on Thursday. Finally, Cantor Fitzgerald raised shares of MoneyLion to a “strong-buy” rating in a research report on Thursday, October 3rd. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $87.86.

MoneyLion Price Performance

The firm has a market cap of $759.12 million, a price-to-earnings ratio of 968.29 and a beta of 2.67. The firm’s 50 day moving average price is $43.14 and its 200-day moving average price is $61.42.

MoneyLion (NYSE:ML) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.26 earnings per share (EPS) 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 business’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period last year, the business posted ($0.42) EPS. Analysts expect that MoneyLion Inc. will post 1.23 EPS for the current year.

Insider Buying and Selling

In other news, insider Timmie Hong sold 2,504 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $48.35, for a total transaction of $121,068.40. Following the sale, the insider now directly owns 103,353 shares in the company, valued at approximately $4,997,117.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Richard Correia sold 13,138 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $45.10, for a total value of $592,523.80. Following the completion of the sale, the chief financial officer now directly owns 219,187 shares in the company, valued at approximately $9,885,333.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Timmie Hong sold 2,504 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $48.35, for a total value of $121,068.40. Following the sale, the insider now owns 103,353 shares of the company’s stock, valued at approximately $4,997,117.55. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,059 shares of company stock valued at $1,988,757 over the last three months. 11.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MoneyLion

Several institutional investors have recently modified their holdings of the stock. Quest Partners LLC increased its stake in MoneyLion by 3,016.7% in the 3rd quarter. Quest Partners LLC now owns 3,927 shares of the company’s stock valued at $163,000 after buying an additional 3,801 shares during the last quarter. Empowered Funds LLC grew its stake in MoneyLion by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 35,246 shares of the company’s stock valued at $1,464,000 after buying an additional 1,742 shares during the last quarter. GSA Capital Partners LLP increased its stake in shares of MoneyLion by 10.4% during the third quarter. GSA Capital Partners LLP now owns 14,427 shares of the company’s stock worth $599,000 after purchasing an additional 1,360 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of MoneyLion during the third quarter worth $894,000. Finally, Covestor Ltd raised its stake in MoneyLion by 63.6% in the 3rd quarter. Covestor Ltd now owns 656 shares of the company’s stock worth $27,000 after purchasing an additional 255 shares in the last quarter. 31.43% of the stock is currently 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.