Renaissance Technologies LLC Increases Stock Holdings in MoneyLion Inc. (NYSE:ML)

Renaissance Technologies LLC increased its holdings in MoneyLion Inc. (NYSE:ML - Free Report) by 20.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 276,061 shares of the company's stock after purchasing an additional 47,300 shares during the quarter. Renaissance Technologies LLC owned 2.49% of MoneyLion worth $23,744,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. MMCAP International Inc. SPC acquired a new position in shares of MoneyLion during the 4th quarter worth approximately $41,435,000. JPMorgan Chase & Co. increased its holdings in MoneyLion by 830.7% in the 4th quarter. JPMorgan Chase & Co. now owns 59,761 shares of the company's stock worth $5,140,000 after acquiring an additional 53,340 shares in the last quarter. Trexquant Investment LP raised its position in MoneyLion by 127.2% during the fourth quarter. Trexquant Investment LP now owns 74,579 shares of the company's stock worth $6,415,000 after acquiring an additional 41,751 shares during the period. Nordea Investment Management AB lifted its holdings in MoneyLion by 238.8% during the fourth quarter. Nordea Investment Management AB now owns 30,760 shares of the company's stock valued at $2,653,000 after purchasing an additional 21,681 shares in the last quarter. Finally, Yakira Capital Management Inc. purchased a new position in MoneyLion during the fourth quarter valued at $1,505,000. Hedge funds and other institutional investors own 31.43% of the company's stock.

MoneyLion Stock Up 0.7 %

NYSE:ML traded up $0.59 on Tuesday, hitting $85.84. The stock had a trading volume of 347,869 shares, compared to its average volume of 213,509. The company has a fifty day moving average price of $86.68 and a two-hundred day moving average price of $77.81. The stock has a market cap of $971.67 million, a price-to-earnings ratio of 390.17 and a beta of 2.94. MoneyLion Inc. has a 1-year low of $36.65 and a 1-year high of $106.82.

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Insider Activity at MoneyLion

In other MoneyLion news, CFO Richard Correia sold 11,490 shares of MoneyLion stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $87.26, for a total transaction of $1,002,617.40. Following the completion of the sale, the chief financial officer now directly owns 166,529 shares in the company, valued at $14,531,320.54. This trade represents a 6.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Adam Vanwagner sold 5,326 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $87.26, for a total transaction of $464,746.76. Following the transaction, the insider now directly owns 85,306 shares of the company's stock, valued at $7,443,801.56. The trade was a 5.88 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,309 shares of company stock worth $4,716,335. Insiders own 11.90% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ML. B. Riley downgraded shares of MoneyLion from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $133.00 to $90.00 in a research report on Wednesday, February 26th. Needham & Company LLC reissued a "hold" rating on shares of MoneyLion in a report on Friday, March 7th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.83.

MoneyLion 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.