Oppenheimer Upgrades MoneyLion (NYSE:ML) to Outperform

MoneyLion (NYSE:ML) was upgraded by stock analysts at Oppenheimer from a “market perform” rating to an “outperform” rating in a research report issued on Thursday, MarketBeat Ratings reports. The firm currently has a $80.00 target price on the stock. Oppenheimer’s price objective would indicate a potential upside of 18.03% from the stock’s current price.

ML has been the topic of a number of other reports. Cantor Fitzgerald raised shares of MoneyLion to a “strong-buy” rating in a report on Thursday, October 3rd. Northland Securities began coverage on shares of MoneyLion in a report on Wednesday, October 16th. They set an “outperform” rating and a $60.00 price target on the stock. Northland Capmk raised shares of MoneyLion to a “strong-buy” rating in a report on Wednesday, October 16th. Finally, Needham & Company LLC reissued a “buy” rating and set a $70.00 price target on shares of MoneyLion in a report on Friday, October 4th. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $87.86.

MoneyLion Stock Up 22.2 %

Shares of NYSE:ML traded up $12.32 during midday trading on Thursday, reaching $67.78. The company’s stock had a trading volume of 544,533 shares, compared to its average volume of 198,112. The firm has a market capitalization of $743.55 million, a PE ratio of 956.57 and a beta of 2.67. MoneyLion has a twelve month low of $21.88 and a twelve month high of $106.82. The stock has a fifty day moving average of $43.14 and a 200 day moving average of $61.42.

MoneyLion (NYSE:ML) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.27. The firm had revenue of $130.90 million for the quarter, compared to analyst estimates of $127.03 million. MoneyLion had a net margin of 0.40% and a return on equity of 0.72%. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.42) earnings per share. Sell-side analysts anticipate that MoneyLion will post 1.23 earnings per share for the current fiscal year.

Insider Buying and Selling at MoneyLion

In other news, insider Timmie Hong sold 5,139 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $45.10, for a total value of $231,768.90. Following the transaction, the insider now directly owns 110,558 shares of the company’s stock, valued at approximately $4,986,165.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider Timmie Hong sold 5,139 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $45.10, for a total transaction of $231,768.90. Following the completion of the sale, the insider now directly owns 110,558 shares in the company, valued at approximately $4,986,165.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mark Torossian sold 811 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $45.10, for a total transaction of $36,576.10. Following the sale, the chief accounting officer now owns 21,395 shares of the company’s stock, valued at approximately $964,914.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,059 shares of company stock valued at $1,988,757 over the last ninety days. Corporate insiders own 11.90% of the company’s stock.

Institutional Investors Weigh In On MoneyLion

A number of institutional investors have recently made changes to their positions in ML. Divisadero Street Capital Management LP acquired a new stake in shares of MoneyLion during the second quarter valued at about $13,427,000. Bank of Montreal Can lifted its holdings in MoneyLion by 2,060.1% during the 2nd quarter. Bank of Montreal Can now owns 103,470 shares of the company’s stock worth $7,864,000 after buying an additional 98,680 shares in the last quarter. Driehaus Capital Management LLC lifted its holdings in MoneyLion by 77.1% during the 2nd quarter. Driehaus Capital Management LLC now owns 221,488 shares of the company’s stock worth $16,288,000 after buying an additional 96,433 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in 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 buying an additional 83,700 shares in the last quarter. Finally, Hood River Capital Management LLC acquired a new stake in MoneyLion during the 1st quarter worth approximately $3,742,000. 31.43% of the stock is currently owned by institutional investors and hedge funds.

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.