Shares of MoneyLion Inc. (NYSE:ML – Get Free Report) dropped 8.5% during trading on Wednesday . The company traded as low as $79.43 and last traded at $79.58. Approximately 122,395 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 189,566 shares. The stock had previously closed at $87.00.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on ML shares. Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of MoneyLion in a report on Monday, June 24th. Craig Hallum raised their target price on MoneyLion from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Lake Street Capital raised their target price on MoneyLion from $75.00 to $109.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Finally, B. Riley restated a “buy” rating and set a $133.00 target price on shares of MoneyLion in a report on Tuesday, June 25th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $101.00.
MoneyLion Trading Down 6.0 %
The company has a 50 day moving average of $81.48 and a 200-day moving average of $68.21. The firm has a market capitalization of $860.22 million, a P/E ratio of -28.02 and a beta of 2.74.
MoneyLion (NYSE:ML – Get Free Report) last released its earnings results on Tuesday, May 7th. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.89. The firm had revenue of $121.00 million during the quarter, compared to the consensus estimate of $116.32 million. MoneyLion had a negative return on equity of 3.02% and a negative net margin of 6.42%. The company’s revenue was up 29.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.29) EPS. As a group, sell-side analysts forecast that MoneyLion Inc. will post 1.45 EPS for the current fiscal year.
Insider Buying and Selling
In related news, Director Jeff Gary sold 879 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $85.85, for a total transaction of $75,462.15. Following the completion of the sale, the director now directly owns 11,817 shares in the company, valued at approximately $1,014,489.45. The sale was disclosed in a filing with the SEC, which is available through this link. In other MoneyLion news, Director Jeff Gary sold 879 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $85.85, for a total value of $75,462.15. Following the completion of the transaction, the director now owns 11,817 shares of the company’s stock, valued at approximately $1,014,489.45. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Mark Torossian sold 1,018 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $81.71, for a total value of $83,180.78. Following the completion of the transaction, the chief accounting officer now directly owns 22,206 shares of the company’s stock, valued at approximately $1,814,452.26. The disclosure for this sale can be found here. Insiders sold a total of 72,003 shares of company stock worth $6,175,744 in the last ninety days. 14.10% of the stock is owned by insiders.
Institutional Investors Weigh In On MoneyLion
Institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC acquired a new stake in MoneyLion during the fourth quarter worth approximately $35,000. EntryPoint Capital LLC acquired a new stake in MoneyLion during the first quarter worth approximately $70,000. Empowered Funds LLC grew its stake in MoneyLion by 8.2% during the first quarter. Empowered Funds LLC now owns 13,896 shares of the company’s stock worth $991,000 after purchasing an additional 1,050 shares during the period. Quantbot Technologies LP grew its stake in MoneyLion by 69.9% during the first quarter. Quantbot Technologies LP now owns 5,167 shares of the company’s stock worth $369,000 after purchasing an additional 2,125 shares during the period. Finally, GSA Capital Partners LLP grew its stake in MoneyLion by 13.5% during the first quarter. GSA Capital Partners LLP now owns 18,223 shares of the company’s stock worth $1,300,000 after purchasing an additional 2,165 shares during the period. Institutional investors and hedge funds 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.