Gabelli Funds LLC Invests $1.19 Million in MoneyLion Inc. (NYSE:ML)

Gabelli Funds LLC purchased a new position in shares of MoneyLion Inc. (NYSE:ML - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 13,877 shares of the company's stock, valued at approximately $1,194,000. Gabelli Funds LLC owned approximately 0.13% of MoneyLion as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in ML. FMR LLC grew its position in shares of MoneyLion by 154.6% in the third 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. State Street Corp lifted its position in MoneyLion by 3.1% in the 3rd quarter. State Street Corp now owns 169,694 shares of the company's stock worth $7,051,000 after buying an additional 5,108 shares during the last quarter. Barclays PLC raised its stake in shares of MoneyLion by 52.1% during the third quarter. Barclays PLC now owns 13,821 shares of the company's stock worth $575,000 after acquiring an additional 4,735 shares in the last quarter. Geode Capital Management LLC lifted its stake in MoneyLion by 5.8% in the third quarter. Geode Capital Management LLC now owns 167,197 shares of the company's stock worth $6,948,000 after purchasing an additional 9,106 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of MoneyLion by 238.8% in the fourth quarter. Nordea Investment Management AB now owns 30,760 shares of the company's stock worth $2,653,000 after purchasing an additional 21,681 shares during the last quarter. Institutional investors and hedge funds own 31.43% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ML. Needham & Company LLC reiterated a "hold" rating on shares of MoneyLion in a research report on Friday, March 7th. B. Riley cut MoneyLion from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $133.00 to $90.00 in a research report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $92.83.

MoneyLion Price Performance

Shares of ML stock remained flat at $85.90 during trading hours on Friday. The stock has a 50-day moving average price of $86.52 and a two-hundred day moving average price of $79.81. The company has a market capitalization of $972.39 million, a price-to-earnings ratio of 390.45 and a beta of 2.94. MoneyLion Inc. has a fifty-two week low of $36.65 and a fifty-two week high of $106.82.

Insider Buying and Selling

In other MoneyLion news, insider Adam Vanwagner sold 5,326 shares of MoneyLion stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $87.26, for a total transaction of $464,746.76. Following the completion of the sale, the insider now directly owns 85,306 shares in the company, valued at $7,443,801.56. This trade represents a 5.88 % 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, CFO Richard Correia sold 3,502 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $85.76, for a total transaction of $300,331.52. Following the completion of the transaction, the chief financial officer now directly owns 182,570 shares of the company's stock, valued at approximately $15,657,203.20. The trade was a 1.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,055 shares of company stock valued at $4,176,052. 11.90% of the stock is owned by corporate insiders.

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.