GABELLI & Co INVESTMENT ADVISERS INC. Takes $1.06 Million Position in MoneyLion Inc. (NYSE:ML)

GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in MoneyLion Inc. (NYSE:ML - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 12,300 shares of the company's stock, valued at approximately $1,058,000. GABELLI & Co INVESTMENT ADVISERS INC. owned 0.11% of MoneyLion at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ML. Nordea Investment Management AB raised its stake in shares of MoneyLion by 238.8% during the fourth quarter. Nordea Investment Management AB now owns 30,760 shares of the company's stock valued at $2,653,000 after purchasing an additional 21,681 shares during the period. Geode Capital Management LLC increased its stake in MoneyLion by 5.8% during the 3rd quarter. Geode Capital Management LLC now owns 167,197 shares of the company's stock worth $6,948,000 after buying an additional 9,106 shares during the period. Barclays PLC lifted its holdings in MoneyLion by 52.1% in the 3rd quarter. Barclays PLC now owns 13,821 shares of the company's stock worth $575,000 after buying an additional 4,735 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in MoneyLion by 11.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 61,133 shares of the company's stock valued at $5,258,000 after buying an additional 6,046 shares during the last quarter. Finally, State Street Corp grew its stake in shares of MoneyLion by 3.1% during the third quarter. State Street Corp now owns 169,694 shares of the company's stock valued at $7,051,000 after acquiring an additional 5,108 shares in the last quarter. Institutional investors and hedge funds own 31.43% of the company's stock.

Insider Activity

In related news, CFO Richard Correia sold 11,490 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $87.26, for a total transaction of $1,002,617.40. Following the sale, the chief financial officer now owns 166,529 shares of the company's stock, valued at $14,531,320.54. The trade was a 6.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Timmie Hong sold 1,365 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $85.76, for a total value of $117,062.40. Following the transaction, the insider now directly owns 95,395 shares of the company's stock, valued at approximately $8,181,075.20. The trade was a 1.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,055 shares of company stock valued at $4,176,052. Company insiders own 11.90% of the company's stock.

MoneyLion Price Performance

ML remained flat at $85.90 during trading hours on Friday. The business's 50 day simple moving average is $86.61 and its two-hundred day simple moving average is $78.79. The company has a market capitalization of $972.39 million, a P/E ratio of 390.45 and a beta of 2.94. MoneyLion Inc. has a 52 week low of $36.65 and a 52 week high of $106.82.

Wall Street Analysts Forecast Growth

ML has been the subject of a number of recent analyst reports. Needham & Company LLC restated a "hold" rating on shares of MoneyLion in a research note on Friday, March 7th. B. Riley downgraded shares of MoneyLion from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $133.00 to $90.00 in a research report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, MoneyLion presently has a consensus rating of "Moderate Buy" and an average price target of $92.83.

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.