MoneyLion (NYSE:ML) Stock Price Down 8.5% Following Insider Selling

MoneyLion Inc. (NYSE:ML)’s stock price fell 8.5% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $79.43 and last traded at $79.58. 122,395 shares traded hands during trading, a decline of 35% from the average session volume of 189,566 shares. The stock had previously closed at $87.00.

Specifically, CFO Richard Correia sold 6,778 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $81.28, for a total transaction of $550,915.84. Following the transaction, the chief financial officer now owns 256,318 shares in the company, valued at approximately $20,833,527.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Richard Correia sold 6,778 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $81.28, for a total value of $550,915.84. Following the sale, the chief financial officer now directly owns 256,318 shares of the company’s stock, valued at approximately $20,833,527.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Diwakar Choubey sold 22,738 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $80.95, for a total transaction of $1,840,641.10. Following the completion of the transaction, the chief executive officer now owns 754,160 shares of the company’s stock, valued at $61,049,252. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,185 shares of company stock valued at $8,336,133. Corporate insiders own 14.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of MoneyLion in a research report on Monday, June 24th. Craig Hallum lifted their target price on shares of MoneyLion from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. B. Riley reiterated a “buy” rating and set a $133.00 price target on shares of MoneyLion in a report on Tuesday, June 25th. Finally, Lake Street Capital boosted their price objective on shares of MoneyLion from $75.00 to $109.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, MoneyLion currently has a consensus rating of “Buy” and a consensus target price of $101.00.

MoneyLion Stock Performance

The firm has a market cap of $695.58 million, a P/E ratio of -24.22 and a beta of 2.74. The business’s 50-day simple moving average is $81.18 and its 200 day simple moving average is $68.27.

MoneyLion (NYSE:ML) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.89. The company had revenue of $121.00 million during the quarter, compared to analysts’ expectations of $116.32 million. MoneyLion had a negative return on equity of 3.02% and a negative net margin of 6.42%. MoneyLion’s revenue for the quarter was up 29.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.29) earnings per share. As a group, equities research analysts expect that MoneyLion Inc. will post 1.45 EPS for the current year.

Institutional Trading of MoneyLion

Several large investors have recently added to or reduced their stakes in ML. Tower Research Capital LLC TRC purchased a new stake in MoneyLion in the fourth quarter worth about $35,000. EntryPoint Capital LLC bought a new position in shares of MoneyLion during the 1st quarter valued at approximately $70,000. SG Americas Securities LLC purchased a new stake in MoneyLion in the 1st quarter worth approximately $236,000. B. Riley Wealth Advisors Inc. bought a new stake in MoneyLion during the 4th quarter worth approximately $248,000. Finally, Quantbot Technologies LP lifted its holdings in MoneyLion by 69.9% during the first quarter. Quantbot Technologies LP now owns 5,167 shares of the company’s stock valued at $369,000 after purchasing an additional 2,125 shares in the last quarter. 31.43% of the stock is currently 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.