Bank of New York Mellon Corp Buys 2,050 Shares of MoneyLion Inc. (NYSE:ML)

Bank of New York Mellon Corp grew its stake in MoneyLion Inc. (NYSE:ML) by 11.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 19,648 shares of the company’s stock after purchasing an additional 2,050 shares during the quarter. Bank of New York Mellon Corp’s holdings in MoneyLion were worth $1,690,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ML. New York State Teachers Retirement System purchased a new stake in shares of MoneyLion in the 4th quarter worth approximately $67,000. PFG Investments LLC purchased a new stake in shares of MoneyLion in the 4th quarter worth approximately $215,000. SG Americas Securities LLC lifted its position in MoneyLion by 46.0% during the fourth quarter. SG Americas Securities LLC now owns 5,192 shares of the company’s stock valued at $447,000 after acquiring an additional 1,635 shares during the last quarter. Nordea Investment Management AB lifted its position in MoneyLion by 238.8% during the fourth quarter. Nordea Investment Management AB now owns 30,760 shares of the company’s stock valued at $2,653,000 after acquiring an additional 21,681 shares during the last quarter. Finally, Barclays PLC lifted its position in MoneyLion by 52.1% during the third quarter. Barclays PLC now owns 13,821 shares of the company’s stock valued at $575,000 after acquiring an additional 4,735 shares during the last quarter. 31.43% of the stock is currently owned by institutional investors.

Insider Transactions at MoneyLion

In other MoneyLion news, CFO Richard Correia sold 3,502 shares of MoneyLion stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $85.76, for a total transaction of $300,331.52. Following the transaction, the chief financial officer now directly owns 182,570 shares of the company’s stock, valued at $15,657,203.20. The trade was a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mark Torossian sold 1,136 shares of MoneyLion stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $87.26, for a total transaction of $99,127.36. Following the sale, the chief accounting officer now owns 17,476 shares of the company’s stock, valued at approximately $1,524,955.76. This represents a 6.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,309 shares of company stock valued at $4,716,335. Corporate insiders own 11.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Northland Securities increased their target price on shares of MoneyLion from $80.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. B. Riley cut shares of MoneyLion from a “buy” rating to a “neutral” rating and decreased their target price for the company from $133.00 to $90.00 in a research report on Wednesday, February 26th. Needham & Company LLC reissued a “hold” rating on shares of MoneyLion in a research report on Friday, March 7th. Finally, Lake Street Capital reaffirmed a “hold” rating and issued a $82.00 price target (down previously from $109.00) on shares of MoneyLion in a report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $92.83.

MoneyLion Stock Down 0.5 %

ML opened at $87.86 on Friday. The company has a market cap of $994.52 million, a price-to-earnings ratio of 399.34 and a beta of 3.04. MoneyLion Inc. has a 52-week low of $36.65 and a 52-week high of $106.82. The firm’s fifty day simple moving average is $86.86 and its two-hundred day simple moving average is $72.13.

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.