Bank of New York Mellon Corp Purchases New Stake in MoneyLion Inc. (NYSE:ML)

Bank of New York Mellon Corp bought a new stake in shares of MoneyLion Inc. (NYSE:ML - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 24,150 shares of the company's stock, valued at approximately $1,776,000. Bank of New York Mellon Corp owned 0.23% of MoneyLion at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ML. Trexquant Investment LP acquired a new position in shares of MoneyLion in the fourth quarter worth about $1,251,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of MoneyLion in the fourth quarter worth about $248,000. GSA Capital Partners LLP raised its position in shares of MoneyLion by 13.5% in the first quarter. GSA Capital Partners LLP now owns 18,223 shares of the company's stock worth $1,300,000 after acquiring an additional 2,165 shares during the period. Quantbot Technologies LP raised its position in shares of MoneyLion by 69.9% in the first quarter. Quantbot Technologies LP now owns 5,167 shares of the company's stock worth $369,000 after acquiring an additional 2,125 shares during the period. Finally, Empowered Funds LLC raised its position in shares of MoneyLion by 8.2% in the first quarter. Empowered Funds LLC now owns 13,896 shares of the company's stock worth $991,000 after acquiring an additional 1,050 shares during the period. 31.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Timmie Hong sold 7,535 shares of the company's stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $83.99, for a total transaction of $632,864.65. Following the completion of the transaction, the insider now owns 115,697 shares of the company's stock, valued at $9,717,391.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Timmie Hong sold 7,535 shares of the business's stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $83.99, for a total value of $632,864.65. Following the completion of the sale, the insider now directly owns 115,697 shares in the company, valued at approximately $9,717,391.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Diwakar Choubey sold 20,133 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $45.10, for a total value of $907,998.30. Following the completion of the sale, the chief executive officer now owns 716,380 shares of the company's stock, valued at $32,308,738. The disclosure for this sale can be found here. Insiders sold a total of 66,737 shares of company stock valued at $4,028,078 over the last 90 days. Insiders own 14.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ML shares. B. Riley reiterated a "buy" rating and issued a $133.00 price objective on shares of MoneyLion in a research report on Tuesday, June 25th. Needham & Company LLC dropped their price objective on shares of MoneyLion from $100.00 to $70.00 and set a "buy" rating for the company in a research note on Wednesday, August 7th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $95.00.

MoneyLion Stock Performance

MoneyLion stock traded up $2.14 during midday trading on Thursday, hitting $43.17. 117,622 shares of the company's stock were exchanged, compared to its average volume of 200,913. MoneyLion Inc. has a 12-month low of $17.40 and a 12-month high of $106.82. The stock has a market cap of $454.06 million, a price-to-earnings ratio of -14.93 and a beta of 2.70. The firm's 50 day simple moving average is $53.51 and its 200 day simple moving average is $67.78.

MoneyLion (NYSE:ML - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of ($0.01) by $0.27. MoneyLion had a net margin of 0.40% and a return on equity of 0.72%. The firm had revenue of $130.90 million for the quarter, compared to the consensus estimate of $127.03 million. During the same quarter in the previous year, the firm earned ($0.42) earnings per share. The firm's revenue was up 22.9% on a year-over-year basis. On average, equities research analysts forecast that MoneyLion Inc. will post 1.4 EPS for the current fiscal year.

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.