JPMorgan Chase & Co. Lowers Holdings in MoneyLion Inc. (NYSE:ML)

JPMorgan Chase & Co. decreased its holdings in MoneyLion Inc. (NYSE:ML - Free Report) by 85.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,421 shares of the company's stock after selling 37,112 shares during the quarter. JPMorgan Chase & Co. owned 0.06% of MoneyLion worth $267,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Covestor Ltd lifted its position in shares of MoneyLion by 63.6% during the 3rd quarter. Covestor Ltd now owns 656 shares of the company's stock valued at $27,000 after buying an additional 255 shares in the last quarter. Point72 DIFC Ltd purchased a new position in MoneyLion during the third quarter valued at approximately $40,000. FMR LLC lifted its holdings in MoneyLion by 154.6% during the third quarter. FMR LLC now owns 1,049 shares of the company's stock valued at $44,000 after purchasing an additional 637 shares in the last quarter. Quest Partners LLC boosted its position in shares of MoneyLion by 3,016.7% in the third quarter. Quest Partners LLC now owns 3,927 shares of the company's stock worth $163,000 after purchasing an additional 3,801 shares during the period. Finally, MetLife Investment Management LLC purchased a new stake in shares of MoneyLion in the third quarter worth $208,000. Hedge funds and other institutional investors own 31.43% of the company's stock.

MoneyLion Stock Performance

NYSE:ML traded down $0.36 during trading hours on Tuesday, reaching $87.21. The stock had a trading volume of 161,396 shares, compared to its average volume of 154,904. The stock has a market capitalization of $968.02 million, a PE ratio of 396.40 and a beta of 3.06. MoneyLion Inc. has a 52 week low of $36.65 and a 52 week high of $106.82. The company has a 50 day moving average price of $86.52 and a two-hundred day moving average price of $64.34.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ML shares. Northland Capmk raised shares of MoneyLion to a "strong-buy" rating in a report on Wednesday, October 16th. Lake Street Capital reaffirmed a "hold" rating and issued a $82.00 price objective (down previously from $109.00) on shares of MoneyLion in a research note on Wednesday, December 11th. Oppenheimer upgraded MoneyLion from a "market perform" rating to an "outperform" rating and set a $80.00 target price for the company in a research report on Thursday, November 7th. Northland Securities boosted their price target on MoneyLion from $80.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, November 27th. Finally, Needham & Company LLC restated a "hold" rating and issued a $100.00 price target on shares of MoneyLion in a research note on Wednesday, December 11th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $100.00.

Insider Buying and Selling at MoneyLion

In related news, insider Adam Vanwagner sold 6,165 shares of the firm's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $70.00, for a total value of $431,550.00. Following the completion of the sale, the insider now directly owns 103,133 shares in the company, valued at $7,219,310. This trade represents a 5.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Richard Correia sold 5,296 shares of the business's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $60.00, for a total transaction of $317,760.00. Following the transaction, the chief financial officer now owns 213,891 shares in the company, valued at $12,833,460. This trade represents a 2.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 117,382 shares of company stock worth $9,847,620 over the last 90 days. 11.90% of the stock is owned by insiders.

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.