MoneyLion (NYSE:ML) Trading Down 5% – Should You Sell?

MoneyLion Inc. (NYSE:ML)’s stock price traded down 5% on Monday . The stock traded as low as $86.59 and last traded at $87.11. 27,253 shares were traded during mid-day trading, a decline of 86% from the average session volume of 201,283 shares. The stock had previously closed at $91.70.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Cantor Fitzgerald upgraded shares of MoneyLion to a “strong-buy” rating in a research note on Thursday, October 3rd. Oppenheimer raised 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. Northland Capmk upgraded MoneyLion to a “strong-buy” rating in a research note on Wednesday, October 16th. Northland Securities upped their price objective on MoneyLion from $80.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of MoneyLion in a report on Tuesday, November 26th. Six research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, MoneyLion currently has an average rating of “Buy” and an average price target of $97.86.

MoneyLion Stock Down 4.6 %

The company has a market cap of $970.67 million, a price-to-earnings ratio of 397.59 and a beta of 2.67. The company has a fifty day simple moving average of $56.82 and a two-hundred day simple moving average of $62.52.

Insider Activity at MoneyLion

In related news, CAO Mark Torossian sold 328 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $80.00, for a total transaction of $26,240.00. Following the sale, the chief accounting officer now owns 20,409 shares in the company, valued at approximately $1,632,720. This trade represents a 1.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Diwakar Choubey sold 5,422 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $90.02, for a total value of $488,088.44. Following the sale, the chief executive officer now owns 710,958 shares in the company, valued at $64,000,439.16. This trade represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,680 shares of company stock valued at $4,120,514. Insiders own 11.90% of the company’s stock.

Institutional Investors Weigh In On MoneyLion

Several hedge funds have recently modified their holdings of ML. Covestor Ltd boosted its holdings in MoneyLion by 63.6% in the third quarter. Covestor Ltd now owns 656 shares of the company’s stock valued at $27,000 after acquiring an additional 255 shares during the last quarter. ClariVest Asset Management LLC raised its holdings in shares of MoneyLion by 2.6% in 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 during the period. FMR LLC lifted its stake in shares of MoneyLion by 154.6% in the 3rd quarter. FMR LLC now owns 1,049 shares of the company’s stock valued at $44,000 after purchasing an additional 637 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of MoneyLion during the 3rd quarter worth about $40,000. Finally, GSA Capital Partners LLP increased its position in MoneyLion by 10.4% during the 3rd 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 in the last quarter. 31.43% of the stock is owned by institutional investors and hedge funds.

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.