MoneyLion (NYSE:ML) Stock Price Down 3.7%

MoneyLion Inc. (NYSE:ML) fell 3.7% during trading on Wednesday . The stock traded as low as $71.89 and last traded at $72.99. 34,555 shares were traded during trading, a decline of 80% from the average session volume of 170,592 shares. The stock had previously closed at $75.80.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ML. Cantor Fitzgerald boosted their target price on shares of MoneyLion from $30.00 to $58.00 and gave the company an “overweight” rating in a research report on Wednesday, December 13th. Craig Hallum boosted their price objective on shares of MoneyLion from $30.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, December 12th. TheStreet raised MoneyLion from a “d” rating to a “c-” rating in a report on Thursday, March 7th. Finally, Lake Street Capital initiated coverage on MoneyLion in a research report on Tuesday, December 19th. They set a “buy” rating and a $75.00 target price on the stock. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $52.25.

MoneyLion Price Performance

The firm has a market capitalization of $750.29 million, a P/E ratio of -14.89 and a beta of 2.64. The stock’s 50-day simple moving average is $55.18 and its two-hundred day simple moving average is $42.55.

MoneyLion (NYSE:ML) last issued its earnings results on Thursday, March 7th. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.20. The company had revenue of $112.96 million during the quarter, compared to the consensus estimate of $113.50 million. MoneyLion had a negative net margin of 10.69% and a negative return on equity of 11.19%. During the same quarter in the prior year, the firm posted ($3.00) EPS. On average, analysts forecast that MoneyLion Inc. will post -0.06 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jeff Gary sold 945 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $61.10, for a total value of $57,739.50. Following the transaction, the director now directly owns 7,731 shares of the company’s stock, valued at approximately $472,364.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Diwakar Choubey sold 9,338 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $72.87, for a total transaction of $680,460.06. Following the completion of the transaction, the chief executive officer now owns 796,024 shares in the company, valued at $58,006,268.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jeff Gary sold 945 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $61.10, for a total value of $57,739.50. Following the completion of the sale, the director now owns 7,731 shares in the company, valued at $472,364.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 149,111 shares of company stock worth $9,789,064. 14.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MoneyLion

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of MoneyLion by 11.0% in the 3rd quarter. Vanguard Group Inc. now owns 6,199,308 shares of the company’s stock worth $5,533,000 after buying an additional 612,935 shares in the last quarter. PEAK6 Investments LLC grew its position in MoneyLion by 12.3% in the first quarter. PEAK6 Investments LLC now owns 4,315,145 shares of the company’s stock worth $10,831,000 after acquiring an additional 471,848 shares in the last quarter. State Street Corp increased its stake in MoneyLion by 4.7% during the third quarter. State Street Corp now owns 2,791,558 shares of the company’s stock worth $2,492,000 after acquiring an additional 125,746 shares during the last quarter. Geode Capital Management LLC raised its position in MoneyLion by 5.5% during the first quarter. Geode Capital Management LLC now owns 2,457,772 shares of the company’s stock valued at $1,396,000 after purchasing an additional 128,794 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of MoneyLion by 623.9% in the 2nd quarter. Northern Trust Corp now owns 1,299,131 shares of the company’s stock valued at $1,715,000 after purchasing an additional 1,119,676 shares during the last quarter. Hedge funds and other institutional investors own 31.43% of the company’s stock.

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.