The Manufacturers Life Insurance Company Purchases New Shares in MoneyLion Inc. (NYSE:ML)

The Manufacturers Life Insurance Company purchased a new stake in MoneyLion Inc. (NYSE:ML) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,278 shares of the company’s stock, valued at approximately $241,000.

Several other institutional investors and hedge funds have also modified their holdings of ML. B. Riley Wealth Advisors Inc. acquired a new position in shares of MoneyLion in the fourth quarter valued at about $248,000. GSA Capital Partners LLP grew its stake in MoneyLion by 13.5% during the first quarter. GSA Capital Partners LLP now owns 18,223 shares of the company’s stock worth $1,300,000 after buying an additional 2,165 shares in the last quarter. Quantbot Technologies LP grew its stake in MoneyLion by 69.9% during the first quarter. Quantbot Technologies LP now owns 5,167 shares of the company’s stock worth $369,000 after buying an additional 2,125 shares in the last quarter. Empowered Funds LLC grew its stake in MoneyLion by 8.2% during the first quarter. Empowered Funds LLC now owns 13,896 shares of the company’s stock worth $991,000 after buying an additional 1,050 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in MoneyLion during the first quarter worth about $236,000. 31.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ML shares. Oppenheimer started coverage on shares of MoneyLion in a research note on Tuesday, October 1st. They set a “market perform” rating on the stock. B. Riley reiterated a “buy” rating and set a $133.00 price objective on shares of MoneyLion in a research note on Tuesday, June 25th. Northland Capmk upgraded shares of MoneyLion to a “strong-buy” rating in a research note on Wednesday. Cantor Fitzgerald raised shares of MoneyLion to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $70.00 target price on shares of MoneyLion in a report on Friday, October 4th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $89.17.

MoneyLion Price Performance

Shares of NYSE ML opened at $46.44 on Friday. The company has a 50 day simple moving average of $42.94 and a 200 day simple moving average of $64.14. The firm has a market cap of $488.46 million, a PE ratio of -16.01 and a beta of 2.69. MoneyLion Inc. has a 1 year low of $17.40 and a 1 year high of $106.82.

MoneyLion (NYSE:ML) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.27. The business had revenue of $130.90 million during the quarter, compared to analyst estimates of $127.03 million. MoneyLion had a net margin of 0.40% and a return on equity of 0.72%. The firm’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.42) EPS. As a group, research analysts anticipate that MoneyLion Inc. will post 1.33 earnings per share for the current fiscal year.

Insider Transactions at MoneyLion

In related news, Director John C. Chrystal acquired 5,000 shares of the stock in a transaction dated Thursday, August 8th. The stock was bought at an average price of $47.07 per share, for a total transaction of $235,350.00. Following the purchase, the director now directly owns 44,967 shares of the company’s stock, valued at $2,116,596.69. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other MoneyLion news, insider Timmie Hong sold 5,139 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $45.10, for a total transaction of $231,768.90. Following the completion of the sale, the insider now owns 110,558 shares in the company, valued at approximately $4,986,165.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John C. Chrystal purchased 5,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were acquired at an average price of $47.07 per share, with a total value of $235,350.00. Following the purchase, the director now directly owns 44,967 shares in the company, valued at $2,116,596.69. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 44,059 shares of company stock worth $1,988,757. Company insiders own 14.10% of the company’s stock.

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.