MoneyLion (NYSE:ML) Shares Gap Up – Should You Buy?

MoneyLion Inc. (NYSE:ML)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $44.60, but opened at $47.03. MoneyLion shares last traded at $47.55, with a volume of 30,612 shares.

Analysts Set New Price Targets

Several brokerages have issued reports on ML. Needham & Company LLC reiterated a “buy” rating and set a $70.00 target price on shares of MoneyLion in a report on Friday, October 4th. Cantor Fitzgerald upgraded shares of MoneyLion to a “strong-buy” rating in a research note on Thursday, October 3rd. B. Riley reissued a “buy” rating and issued a $133.00 price objective on shares of MoneyLion in a research note on Tuesday, June 25th. Finally, Oppenheimer began coverage on MoneyLion in a research report on Tuesday, October 1st. They set a “market perform” rating on the stock. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $95.00.

MoneyLion Price Performance

The company has a market cap of $517.70 million, a PE ratio of -16.18 and a beta of 2.69. The stock’s 50-day moving average is $42.78 and its 200 day moving average is $64.50.

MoneyLion (NYSE:ML) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.27. MoneyLion had a return on equity of 0.72% and a net margin of 0.40%. The firm had revenue of $130.90 million during the quarter, compared to analysts’ expectations of $127.03 million. During the same quarter last year, the firm earned ($0.42) EPS. The business’s quarterly revenue was up 22.9% on a year-over-year basis. On average, analysts expect that MoneyLion Inc. will post 1.33 EPS for the current year.

Insider Activity at MoneyLion

In related news, CAO Mark Torossian sold 811 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 $36,576.10. Following the completion of the transaction, the chief accounting officer now owns 21,395 shares in the company, valued at $964,914.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CAO Mark Torossian sold 811 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $45.10, for a total value of $36,576.10. Following the sale, the chief accounting officer now directly owns 21,395 shares of the company’s stock, valued at $964,914.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John C. Chrystal acquired 5,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was acquired at an average price of $47.07 per share, for a total transaction of $235,350.00. Following the purchase, the director now directly owns 44,967 shares of the company’s stock, valued at approximately $2,116,596.69. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 41,555 shares of company stock valued at $1,867,689 in the last three months. 14.10% of the stock is owned by insiders.

Hedge Funds Weigh In On MoneyLion

Institutional investors have recently modified their holdings of the stock. EntryPoint Capital LLC acquired a new stake in MoneyLion during the first quarter worth about $70,000. Fiducient Advisors LLC acquired a new stake in shares of MoneyLion during the 2nd quarter worth approximately $204,000. Commonwealth Equity Services LLC purchased a new position in shares of MoneyLion during the 2nd quarter valued at approximately $227,000. SG Americas Securities LLC acquired a new position in shares of MoneyLion in the 1st quarter valued at $236,000. Finally, Private Ocean LLC purchased a new stake in MoneyLion during the second quarter worth $238,000. 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.