Needham & Company LLC Reaffirms “Hold” Rating for MoneyLion (NYSE:ML)

MoneyLion (NYSE:ML)‘s stock had its “hold” rating restated by research analysts at Needham & Company LLC in a research note issued on Wednesday,Benzinga reports. They currently have a $100.00 price target on the stock. Needham & Company LLC’s price target indicates a potential upside of 13.61% from the stock’s previous close.

A number of other research analysts also recently commented on ML. Northland Securities increased their target price on MoneyLion from $80.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Oppenheimer upgraded shares of MoneyLion from a “market perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a report on Thursday, November 7th. Cantor Fitzgerald raised shares of MoneyLion to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, Northland Capmk raised MoneyLion to a “strong-buy” rating in a research note on Wednesday, October 16th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $97.86.

MoneyLion Stock Up 14.3 %

Shares of ML stock opened at $88.02 on Wednesday. The stock has a market cap of $977.11 million, a P/E ratio of 400.09 and a beta of 3.08. The company’s fifty day simple moving average is $63.07 and its two-hundred day simple moving average is $62.68. MoneyLion has a 52 week low of $36.65 and a 52 week high of $106.82.

Insider Buying and Selling

In other news, insider Adam Vanwagner sold 6,165 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $70.00, for a total transaction of $431,550.00. Following the transaction, the insider now directly owns 103,133 shares of the company’s stock, valued at approximately $7,219,310. This trade represents a 5.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Timmie Hong sold 2,504 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 103,353 shares in the company, valued at approximately $4,997,117.55. This trade represents a 2.37 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 109,872 shares of company stock valued at $8,998,024. Insiders own 11.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ML. Covestor Ltd increased its holdings in shares of MoneyLion by 63.6% in the 3rd quarter. Covestor Ltd now owns 656 shares of the company’s stock valued at $27,000 after acquiring an additional 255 shares during the period. Point72 DIFC Ltd bought a new position in MoneyLion in the third quarter worth about $40,000. FMR LLC lifted its position in shares of MoneyLion by 154.6% during the third quarter. FMR LLC now owns 1,049 shares of the company’s stock valued at $44,000 after buying an additional 637 shares during the last quarter. Quest Partners LLC boosted its holdings in shares of 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 in the last quarter. Finally, Fiducient Advisors LLC purchased a new position in shares of MoneyLion in the 2nd quarter worth approximately $204,000. 31.43% of the stock is currently owned by institutional investors.

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.