Nordea Investment Management AB Boosts Stock Position in MoneyLion Inc. (NYSE:ML)

Nordea Investment Management AB increased its stake in shares of MoneyLion Inc. (NYSE:ML) by 238.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 30,760 shares of the company’s stock after acquiring an additional 21,681 shares during the quarter. Nordea Investment Management AB’s holdings in MoneyLion were worth $2,653,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Covestor Ltd grew its stake 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 buying an additional 255 shares during the period. Point72 DIFC Ltd purchased a new position in MoneyLion in the third quarter worth approximately $40,000. FMR LLC grew its position in MoneyLion by 154.6% in the third quarter. FMR LLC now owns 1,049 shares of the company’s stock worth $44,000 after acquiring an additional 637 shares during the period. Quest Partners LLC increased its stake in MoneyLion by 3,016.7% during the third quarter. Quest Partners LLC now owns 3,927 shares of the company’s stock worth $163,000 after acquiring an additional 3,801 shares during the last quarter. Finally, MetLife Investment Management LLC purchased a new stake in MoneyLion in the third quarter valued at $208,000. Hedge funds and other institutional investors own 31.43% of the company’s stock.

Wall Street Analyst Weigh In

ML has been the subject of a number of research analyst reports. Northland Capmk upgraded MoneyLion to a “strong-buy” rating in a report on Wednesday, October 16th. Needham & Company LLC reaffirmed a “hold” rating and set a $100.00 target price on shares of MoneyLion in a research note on Wednesday, December 11th. Oppenheimer upgraded shares of MoneyLion from a “market perform” rating to an “outperform” rating and set a $80.00 price target for the company in a research report on Thursday, November 7th. Northland Securities upped their price objective on shares of MoneyLion from $80.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Finally, Lake Street Capital reiterated a “hold” rating and issued a $82.00 target price (down previously from $109.00) on shares of MoneyLion in a report on Wednesday, December 11th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, MoneyLion has an average rating of “Buy” and a consensus price target of $100.00.

Insider Activity at MoneyLion

In related news, CAO Mark Torossian sold 328 shares of MoneyLion stock in a transaction on Friday, November 8th. The stock was sold at an average price of $80.00, for a total value of $26,240.00. Following the completion of the transaction, the chief accounting officer now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Chris Sugden sold 25,000 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $86.22, for a total value of $2,155,500.00. Following the transaction, the director now directly owns 1,062,505 shares of the company’s stock, valued at $91,609,181.10. The trade was a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,632 shares of company stock worth $9,428,405. Corporate insiders own 11.90% of the company’s stock.

MoneyLion Price Performance

Shares of NYSE:ML opened at $85.90 on Friday. The firm has a market capitalization of $953.58 million, a PE ratio of 390.45 and a beta of 3.07. MoneyLion Inc. has a 1 year low of $36.65 and a 1 year high of $106.82. The firm’s 50-day moving average is $82.87 and its two-hundred day moving average is $62.85.

MoneyLion 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.