MoneyLion (NYSE:ML) Trading Down 5.9% After Insider Selling

MoneyLion Inc. (NYSE:ML) shares fell 5.9% on Monday after an insider sold shares in the company. The company traded as low as $75.96 and last traded at $76.18. 113,527 shares were traded during trading, a decline of 43% from the average session volume of 200,563 shares. The stock had previously closed at $80.92.

Specifically, CFO Richard Correia sold 5,296 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $60.00, for a total transaction of $317,760.00. Following the completion of the sale, the chief financial officer now owns 213,891 shares of the company’s stock, valued at $12,833,460. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mark Torossian sold 328 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $80.00, for a total transaction of $26,240.00. Following the completion of the transaction, the chief accounting officer now owns 20,409 shares in the company, valued at $1,632,720. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other MoneyLion news, insider Adam Vanwagner sold 6,165 shares of MoneyLion stock in a transaction dated 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 $7,219,310. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Ratings Changes

Several equities analysts have weighed in on ML shares. Oppenheimer upgraded shares of MoneyLion from a “market perform” rating to an “outperform” rating and set a $80.00 target price for the company in a report on Thursday, November 7th. Northland Capmk raised MoneyLion to a “strong-buy” rating in a research note on Wednesday, October 16th. Cantor Fitzgerald upgraded MoneyLion to a “strong-buy” rating in a research note on Thursday, October 3rd. Northland Securities raised their price target on MoneyLion from $60.00 to $80.00 and gave the company an “outperform” rating in a report on Friday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $70.00 target price on shares of MoneyLion in a research report on Friday, October 4th. Six equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $90.71.

MoneyLion Stock Performance

The company has a market capitalization of $894.93 million, a PE ratio of 370.82 and a beta of 2.67. The company’s 50-day simple moving average is $45.00 and its 200-day simple moving average is $61.53.

Institutional Investors Weigh In On MoneyLion

Several large investors have recently made changes to their positions in ML. Quantbot Technologies LP boosted its holdings in shares of MoneyLion by 69.9% in the first quarter. Quantbot Technologies LP now owns 5,167 shares of the company’s stock worth $369,000 after buying an additional 2,125 shares during the period. Empowered Funds LLC raised its holdings in MoneyLion by 8.2% during the 1st 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 last quarter. SG Americas Securities LLC bought a new stake in shares of MoneyLion in the 1st quarter valued at about $236,000. Sei Investments Co. bought a new stake in MoneyLion during the 1st quarter worth approximately $1,070,000. Finally, Russell Investments Group Ltd. acquired a new position in MoneyLion during the 1st quarter worth approximately $3,110,000. 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.