Needham & Company LLC Cuts MoneyLion (NYSE:ML) Price Target to $70.00

MoneyLion (NYSE:ML) had its price objective trimmed by Needham & Company LLC from $100.00 to $70.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also issued reports on ML. Craig Hallum increased 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 restated 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 upped their target price on shares of MoneyLion from $75.00 to $109.00 and gave the stock a buy rating in a research note on Monday, April 15th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of Buy and a consensus target price of $95.00.

MoneyLion Stock Performance

Shares of ML stock traded down $3.79 during trading hours on Wednesday, reaching $43.59. The company had a trading volume of 337,522 shares, compared to its average volume of 207,118. MoneyLion has a 12-month low of $12.60 and a 12-month high of $106.82. The company has a market capitalization of $458.48 million, a price-to-earnings ratio of -15.03 and a beta of 2.74. The stock has a fifty day moving average of $73.20 and a 200-day moving average of $68.79.

MoneyLion (NYSE:ML) last announced its quarterly 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. The business had revenue of $130.90 million during the quarter, compared to the consensus estimate of $127.03 million. MoneyLion had a negative net margin of 6.42% and a negative return on equity of 3.02%. The business’s revenue was up 22.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.42) EPS. On average, analysts forecast that MoneyLion will post 1.45 EPS for the current year.

Insider Buying and Selling

In other news, insider Adam Vanwagner sold 4,478 shares of MoneyLion stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $84.59, for a total value of $378,794.02. Following the sale, the insider now owns 116,271 shares of the company’s stock, valued at $9,835,363.89. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Adam Vanwagner sold 4,478 shares of MoneyLion stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $84.59, for a total value of $378,794.02. Following the sale, the insider now directly owns 116,271 shares in the company, valued at $9,835,363.89. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jeff Gary sold 879 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $85.85, for a total value of $75,462.15. Following the completion of the transaction, the director now owns 11,817 shares of the company’s stock, valued at approximately $1,014,489.45. The disclosure for this sale can be found here. Insiders sold a total of 97,185 shares of company stock valued at $8,336,133 over the last three months. 14.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC lifted its stake in MoneyLion by 64.2% in the 2nd quarter. Renaissance Technologies LLC now owns 214,129 shares of the company’s stock valued at $15,747,000 after buying an additional 83,700 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of MoneyLion by 119.6% in the second quarter. Dimensional Fund Advisors LP now owns 40,106 shares of the company’s stock valued at $2,949,000 after acquiring an additional 21,839 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in shares of MoneyLion during the second quarter valued at $1,579,000. Wealthspire Advisors LLC purchased a new stake in MoneyLion during the 2nd quarter worth about $260,000. Finally, American Century Companies Inc. raised its stake in MoneyLion by 26.8% in the 2nd quarter. American Century Companies Inc. now owns 9,808 shares of the company’s stock valued at $721,000 after purchasing an additional 2,076 shares during the last quarter. Institutional investors and hedge funds own 31.43% of the company’s stock.

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.