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

MoneyLion Inc. (NYSE:ML - Get Free Report)'s share price was down 5.9% during trading on Monday following insider selling activity. The stock traded as low as $75.96 and last traded at $76.18. Approximately 113,527 shares traded hands during mid-day 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 MoneyLion stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $60.00, for a total value of $317,760.00. Following the completion of the transaction, the chief financial officer now owns 213,891 shares in the company, valued at approximately $12,833,460. The trade was a 0.00 % 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, CAO Mark Torossian sold 328 shares of the business's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $80.00, for a total transaction of $26,240.00. Following the completion of the transaction, the chief accounting officer now owns 20,409 shares of the company's stock, valued at $1,632,720. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In related news, insider Adam Vanwagner sold 6,165 shares of the business's stock in a transaction that occurred on 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Analyst Ratings Changes

ML has been the subject of several research analyst reports. Northland Capmk upgraded shares of MoneyLion to a "strong-buy" rating in a research report on Wednesday, October 16th. Oppenheimer raised shares of MoneyLion from a "market perform" rating to an "outperform" rating and set a $80.00 target price for the company in a report on Thursday. Needham & Company LLC reaffirmed a "buy" rating and set a $70.00 target price on shares of MoneyLion in a report on Friday, October 4th. Cantor Fitzgerald raised shares of MoneyLion to a "strong-buy" rating in a report on Thursday, October 3rd. Finally, Northland Securities lifted 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. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $90.71.

MoneyLion Stock Performance

The firm has a market capitalization of $894.93 million, a P/E ratio of 367.82 and a beta of 2.67. The firm's 50-day moving average is $44.29 and its 200 day moving average is $61.44.

Institutional Investors Weigh In On MoneyLion

Several institutional investors have recently added to or reduced their stakes in ML. Quest Partners LLC lifted its position in MoneyLion by 3,016.7% during the 3rd quarter. Quest Partners LLC now owns 3,927 shares of the company's stock worth $163,000 after buying an additional 3,801 shares in the last quarter. Empowered Funds LLC lifted its position in MoneyLion by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 35,246 shares of the company's stock worth $1,464,000 after buying an additional 1,742 shares in the last quarter. GSA Capital Partners LLP lifted its position in MoneyLion by 10.4% during the 3rd quarter. GSA Capital Partners LLP now owns 14,427 shares of the company's stock worth $599,000 after buying an additional 1,360 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in MoneyLion during the 3rd quarter worth about $894,000. Finally, Covestor Ltd lifted its position in MoneyLion by 63.6% during the 3rd quarter. Covestor Ltd now owns 656 shares of the company's stock worth $27,000 after buying an additional 255 shares in the last quarter. 31.43% of the stock is owned by institutional investors.

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.