Oppenheimer Initiates Coverage on MoneyLion (NYSE:ML)

Stock analysts at Oppenheimer assumed coverage on shares of MoneyLion (NYSE:ML) in a research note issued to investors on Tuesday, StockNewsAPI reports. The firm set a “market perform” rating on the stock.

A number of other research analysts have also weighed in on the company. B. Riley reaffirmed a “buy” rating and set a $133.00 target price on shares of MoneyLion in a report on Tuesday, June 25th. Needham & Company LLC dropped their price target on MoneyLion from $100.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

MoneyLion Stock Performance

NYSE:ML opened at $41.54 on Tuesday. The company has a market capitalization of $436.92 million, a PE ratio of -14.32 and a beta of 2.70. MoneyLion has a fifty-two week low of $17.40 and a fifty-two week high of $106.82. The company has a 50 day simple moving average of $48.29 and a two-hundred day simple moving average of $66.67.

MoneyLion (NYSE:ML) last issued its earnings results on Tuesday, August 6th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.27. MoneyLion had a return on equity of 0.72% and a net margin of 0.40%. The company had revenue of $130.90 million for the quarter, compared to analysts’ expectations of $127.03 million. During the same period last year, the business earned ($0.42) EPS. MoneyLion’s quarterly revenue was up 22.9% compared to the same quarter last year. Research analysts predict that MoneyLion will post 1.4 EPS for the current year.

Insider Buying and Selling

In other MoneyLion news, insider Timmie Hong sold 2,334 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $42.34, for a total value of $98,821.56. Following the completion of the sale, the insider now owns 105,857 shares in the company, valued at $4,481,985.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director John C. Chrystal purchased 5,000 shares of MoneyLion stock in a transaction that occurred on Thursday, August 8th. The shares were bought at an average cost of $47.07 per share, with a total value of $235,350.00. Following the completion of the purchase, the director now directly owns 44,967 shares in the company, valued at $2,116,596.69. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Timmie Hong sold 2,334 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $42.34, for a total value of $98,821.56. Following the completion of the sale, the insider now directly owns 105,857 shares in the company, valued at $4,481,985.38. The disclosure for this sale can be found here. Insiders sold 66,737 shares of company stock worth $4,028,078 in the last quarter. 14.10% of the stock is owned by insiders.

Institutional Investors Weigh In On MoneyLion

Several hedge funds have recently added to or reduced their stakes in the stock. Divisadero Street Capital Management LP bought a new position in shares of MoneyLion during the second quarter valued at $13,427,000. Bank of Montreal Can lifted its holdings in shares of MoneyLion by 2,060.1% during the second quarter. Bank of Montreal Can now owns 103,470 shares of the company’s stock valued at $7,864,000 after purchasing an additional 98,680 shares in the last quarter. Driehaus Capital Management LLC lifted its holdings in shares of MoneyLion by 77.1% during the second quarter. Driehaus Capital Management LLC now owns 221,488 shares of the company’s stock valued at $16,288,000 after purchasing an additional 96,433 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in MoneyLion by 64.2% in the second quarter. Renaissance Technologies LLC now owns 214,129 shares of the company’s stock valued at $15,747,000 after acquiring an additional 83,700 shares during the period. Finally, Hood River Capital Management LLC bought a new position in MoneyLion in the first quarter valued at about $3,742,000. 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.