MoneyLion (NYSE:ML) Trading Down 5.9% Following Insider Selling

MoneyLion Inc. (NYSE:ML)’s stock price dropped 5.9% during trading on Monday after an insider sold shares in the company. The stock traded as low as $75.96 and last traded at $76.18. Approximately 113,527 shares traded hands during trading, a decline of 43% from the average daily volume of 200,563 shares. The stock had previously closed at $80.92.

Specifically, CFO Richard Correia sold 5,296 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $60.00, for a total value of $317,760.00. Following the sale, the chief financial officer now directly owns 213,891 shares of the company’s stock, valued at $12,833,460. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Mark Torossian sold 328 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $80.00, for a total transaction of $26,240.00. Following the transaction, the chief accounting officer now owns 20,409 shares in the company, valued at $1,632,720. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, insider Adam Vanwagner sold 6,165 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $70.00, for a total value of $431,550.00. Following the completion of the transaction, the insider now owns 103,133 shares in the company, valued at $7,219,310. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Analysts Set New Price Targets

ML has been the subject of several recent analyst reports. Northland Securities raised their target price on shares of MoneyLion from $60.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday. Cantor Fitzgerald upgraded MoneyLion to a “strong-buy” rating in a research report on Thursday, October 3rd. Northland Capmk raised MoneyLion to a “strong-buy” rating in a research report on Wednesday, October 16th. Needham & Company LLC restated a “buy” rating and issued a $70.00 target price on shares of MoneyLion in a research note on Friday, October 4th. Finally, Oppenheimer upgraded MoneyLion from a “market perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research report on Thursday, November 7th. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $90.71.

MoneyLion Price Performance

The company has a fifty day moving average price of $45.00 and a 200 day moving average price of $61.53. The company has a market cap of $894.93 million, a PE ratio of 370.82 and a beta of 2.67.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Covestor Ltd increased its stake in MoneyLion by 63.6% in the third quarter. Covestor Ltd now owns 656 shares of the company’s stock valued at $27,000 after purchasing an additional 255 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of MoneyLion in the 1st quarter valued at $70,000. Fiducient Advisors LLC purchased a new stake in shares of MoneyLion during the 2nd quarter worth about $204,000. Commonwealth Equity Services LLC acquired a new stake in MoneyLion in the 2nd quarter valued at approximately $227,000. Finally, Private Ocean LLC acquired a new stake in MoneyLion in the 2nd quarter valued at $238,000. Hedge funds and other institutional investors own 31.43% of the company’s stock.

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.