Point72 Asset Management L.P. Acquires New Position in MoneyLion Inc. (NYSE:ML)

Point72 Asset Management L.P. bought a new position in shares of MoneyLion Inc. (NYSE:ML) in the third quarter, HoldingsChannel reports. The firm bought 13,812 shares of the company’s stock, valued at approximately $574,000.

Other hedge funds have also modified their holdings of the company. SG Americas Securities LLC increased its stake in shares of MoneyLion by 500.7% during the 2nd quarter. SG Americas Securities LLC now owns 19,906 shares of the company’s stock worth $1,464,000 after purchasing an additional 16,592 shares in the last quarter. Marshall Wace LLP increased its position in MoneyLion by 24.1% during the second quarter. Marshall Wace LLP now owns 240,352 shares of the company’s stock worth $17,675,000 after buying an additional 46,611 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of MoneyLion by 2,060.1% in the second quarter. Bank of Montreal Can now owns 103,470 shares of the company’s stock worth $7,864,000 after acquiring an additional 98,680 shares during the last quarter. Thompson Siegel & Walmsley LLC purchased a new stake in shares of MoneyLion in the second quarter valued at $1,579,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of MoneyLion during the second quarter valued at $1,776,000. 31.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other MoneyLion news, insider Timmie Hong sold 2,504 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $48.35, for a total value of $121,068.40. Following the completion of the sale, the insider now directly owns 103,353 shares of the company’s stock, valued at $4,997,117.55. The trade was a 2.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Diwakar Choubey sold 16,080 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $90.44, for a total value of $1,454,275.20. Following the sale, the chief executive officer now owns 674,025 shares of the company’s stock, valued at approximately $60,958,821. This trade represents a 2.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 109,872 shares of company stock valued at $8,998,024. Company insiders own 11.90% of the company’s stock.

MoneyLion Price Performance

NYSE ML opened at $87.18 on Thursday. MoneyLion Inc. has a 12 month low of $36.65 and a 12 month high of $106.82. The company has a market capitalization of $967.79 million, a P/E ratio of 396.27 and a beta of 3.08. The company’s 50 day simple moving average is $64.06 and its 200 day simple moving average is $62.85.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Cantor Fitzgerald raised shares of MoneyLion to a “strong-buy” rating in a research report on Thursday, October 3rd. Oppenheimer raised shares of MoneyLion from a “market perform” rating to an “outperform” rating and set a $80.00 price objective for the company in a research note on Thursday, November 7th. Northland Capmk upgraded shares of MoneyLion to a “strong-buy” rating in a report on Wednesday, October 16th. Needham & Company LLC restated a “hold” rating and set a $100.00 price target on shares of MoneyLion in a research note on Wednesday. Finally, Northland Securities boosted their target price on MoneyLion from $80.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, MoneyLion presently has a consensus rating of “Buy” and an average price target of $94.00.

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.