JPMorgan Chase & Co. Purchases 53,340 Shares of MoneyLion Inc. (NYSE:ML)

JPMorgan Chase & Co. grew its stake in shares of MoneyLion Inc. (NYSE:ML - Free Report) by 830.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 59,761 shares of the company's stock after purchasing an additional 53,340 shares during the period. JPMorgan Chase & Co. owned about 0.54% of MoneyLion worth $5,140,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. MMCAP International Inc. SPC purchased a new stake in shares of MoneyLion during the fourth quarter worth $41,435,000. Nordea Investment Management AB lifted its stake in MoneyLion by 238.8% during the 4th quarter. Nordea Investment Management AB now owns 30,760 shares of the company's stock valued at $2,653,000 after acquiring an additional 21,681 shares during the period. Mint Tower Capital Management B.V. purchased a new stake in MoneyLion during the 4th quarter valued at approximately $1,217,000. Vanguard Group Inc. grew its holdings in shares of MoneyLion by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 387,269 shares of the company's stock valued at $33,309,000 after purchasing an additional 10,191 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in shares of MoneyLion during the fourth quarter worth $842,000. Hedge funds and other institutional investors own 31.43% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ML. Needham & Company LLC reissued a "hold" rating on shares of MoneyLion in a report on Friday, March 7th. B. Riley downgraded MoneyLion from a "buy" rating to a "neutral" rating and decreased their target price for the company 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $92.83.

Insider Buying and Selling

In related news, insider Timmie Hong sold 1,365 shares of MoneyLion stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $85.76, for a total transaction of $117,062.40. Following the sale, the insider now directly owns 95,395 shares of the company's stock, valued at $8,181,075.20. This trade represents a 1.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adam Vanwagner sold 5,326 shares of MoneyLion stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $87.26, for a total value of $464,746.76. Following the sale, the insider now directly owns 85,306 shares in the company, valued at approximately $7,443,801.56. This trade represents a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,055 shares of company stock valued at $4,176,052 over the last three months. 11.90% of the stock is owned by corporate insiders.

MoneyLion Stock Performance

Shares of MoneyLion stock remained flat at $85.90 during trading on Thursday. The business's 50-day moving average is $86.54 and its two-hundred day moving average is $79.49. The stock has a market cap of $972.39 million, a PE ratio of 390.45 and a beta of 2.94. MoneyLion Inc. has a 1 year low of $36.65 and a 1 year high of $106.82.

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.