MoneyLion (NYSE:ML) Sees Strong Trading Volume – Here’s Why

MoneyLion Inc. (NYSE:ML) shares saw an uptick in trading volume on Friday . 313,512 shares traded hands during trading, an increase of 48% from the previous session’s volume of 211,729 shares.The stock last traded at $85.85 and had previously closed at $86.25.

Analyst Ratings Changes

ML has been the subject of several recent analyst reports. Needham & Company LLC reissued a “hold” rating and issued a $100.00 price objective on shares of MoneyLion in a report on Wednesday. Northland Securities increased their price target on shares of MoneyLion from $80.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Oppenheimer upgraded shares of MoneyLion from a “market perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research note on Thursday, November 7th. Cantor Fitzgerald upgraded shares of MoneyLion to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, Northland Capmk raised MoneyLion to a “strong-buy” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $100.00.

MoneyLion Price Performance

The company’s 50-day moving average price is $66.00 and its two-hundred day moving average price is $62.73. The company has a market capitalization of $970.01 million, a P/E ratio of 397.18 and a beta of 3.08.

Insider Activity at MoneyLion

In related news, CEO Diwakar Choubey sold 16,080 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $90.44, for a total value of $1,454,275.20. Following the transaction, the chief executive officer now directly owns 674,025 shares in the company, valued at approximately $60,958,821. This represents a 2.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Timmie Hong sold 2,334 shares of MoneyLion stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $42.34, for a total transaction of $98,821.56. Following the completion of the sale, the insider now owns 105,857 shares of the company’s stock, valued at $4,481,985.38. This trade represents a 2.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,872 shares of company stock worth $8,998,024. Insiders own 11.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Marshall Wace LLP grew its position in MoneyLion by 24.1% during the second quarter. Marshall Wace LLP now owns 240,352 shares of the company’s stock worth $17,675,000 after buying an additional 46,611 shares in the last quarter. Driehaus Capital Management LLC lifted its position in shares of MoneyLion by 77.1% during the 2nd quarter. Driehaus Capital Management LLC now owns 221,488 shares of the company’s stock valued at $16,288,000 after acquiring an additional 96,433 shares during the period. Renaissance Technologies LLC grew its holdings in shares of MoneyLion by 64.2% during the 2nd quarter. Renaissance Technologies LLC now owns 214,129 shares of the company’s stock worth $15,747,000 after purchasing an additional 83,700 shares in the last quarter. Divisadero Street Capital Management LP acquired a new stake in shares of MoneyLion during the 2nd quarter worth $13,427,000. Finally, State Street Corp increased its position in shares of MoneyLion by 3.1% in the third quarter. State Street Corp now owns 169,694 shares of the company’s stock worth $7,051,000 after purchasing an additional 5,108 shares during the period. 31.43% of the stock is owned by institutional investors.

MoneyLion Company 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.