MoneyLion (NYSE:ML) Shares Gap Up Following Analyst Upgrade

MoneyLion Inc. (NYSE:ML - Get Free Report) gapped up before the market opened on Monday after Lake Street Capital raised their price target on the stock from $75.00 to $109.00. The stock had previously closed at $78.64, but opened at $80.94. Lake Street Capital currently has a buy rating on the stock. MoneyLion shares last traded at $81.03, with a volume of 11,598 shares.

A number of other research firms have also weighed in on ML. Needham & Company LLC initiated coverage on shares of MoneyLion in a report on Wednesday, April 3rd. They issued a "buy" rating and a $90.00 target price on the stock. TheStreet upgraded shares of MoneyLion from a "d" rating to a "c-" rating in a report on Thursday, March 7th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $66.60.

Insiders Place Their Bets

In other MoneyLion news, Director Jeff Gary sold 945 shares of the company's stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $61.10, for a total value of $57,739.50. Following the completion of the sale, the director now directly owns 7,731 shares of the company's stock, valued at approximately $472,364.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Jeff Gary sold 945 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $61.10, for a total transaction of $57,739.50. Following the completion of the transaction, the director now directly owns 7,731 shares of the company's stock, valued at approximately $472,364.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Diwakar Choubey sold 9,338 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $72.87, for a total transaction of $680,460.06. Following the transaction, the chief executive officer now directly owns 796,024 shares of the company's stock, valued at $58,006,268.88. The disclosure for this sale can be found here. In the last ninety days, insiders sold 149,111 shares of company stock valued at $9,789,064. Corporate insiders own 14.10% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ML. State Street Corp grew its position in shares of MoneyLion by 652.3% during the 2nd quarter. State Street Corp now owns 2,665,812 shares of the company's stock valued at $3,519,000 after acquiring an additional 2,311,469 shares during the period. Vanguard Group Inc. boosted its holdings in MoneyLion by 108.2% in the 1st quarter. Vanguard Group Inc. now owns 3,011,296 shares of the company's stock worth $7,559,000 after buying an additional 1,565,022 shares during the period. Northern Trust Corp boosted its holdings in MoneyLion by 623.9% in the 2nd quarter. Northern Trust Corp now owns 1,299,131 shares of the company's stock worth $1,715,000 after buying an additional 1,119,676 shares during the period. Fuller & Thaler Asset Management Inc. bought a new position in MoneyLion in the 1st quarter worth approximately $1,315,000. Finally, PEAK6 Investments LLC boosted its holdings in MoneyLion by 12.3% in the 1st quarter. PEAK6 Investments LLC now owns 4,315,145 shares of the company's stock worth $10,831,000 after buying an additional 471,848 shares during the period. 31.43% of the stock is owned by institutional investors.

MoneyLion Trading Down 7.9 %

The company's fifty day moving average is $61.62 and its 200 day moving average is $47.36. The company has a market capitalization of $762.17 million, a P/E ratio of -15.13 and a beta of 2.71.

MoneyLion (NYSE:ML - Get Free Report) last released its quarterly earnings data on Thursday, March 7th. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.20. The company had revenue of $112.96 million during the quarter, compared to the consensus estimate of $113.50 million. MoneyLion had a negative net margin of 10.69% and a negative return on equity of 11.19%. During the same period last year, the firm earned ($3.00) EPS. Equities research analysts predict that MoneyLion Inc. will post -0.06 EPS for the current year.

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.