The Manufacturers Life Insurance Company Acquires New Holdings in MoneyLion Inc. (NYSE:ML)

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

A number of other institutional investors have also recently bought and sold shares of the company. ClariVest Asset Management LLC grew its holdings in MoneyLion by 2.6% during the second quarter. ClariVest Asset Management LLC now owns 10,175 shares of the company’s stock valued at $748,000 after purchasing an additional 257 shares during the period. EntryPoint Capital LLC acquired a new position in shares of MoneyLion in the first quarter valued at approximately $70,000. Empowered Funds LLC boosted its holdings in shares of MoneyLion by 8.2% in the first quarter. Empowered Funds LLC now owns 13,896 shares of the company’s stock valued at $991,000 after buying an additional 1,050 shares during the period. American Century Companies Inc. boosted its holdings in shares of MoneyLion by 26.8% in the second quarter. American Century Companies Inc. now owns 9,808 shares of the company’s stock valued at $721,000 after buying an additional 2,076 shares during the period. Finally, Quantbot Technologies LP boosted its holdings in shares of MoneyLion by 69.9% in the first quarter. Quantbot Technologies LP now owns 5,167 shares of the company’s stock valued at $369,000 after buying an additional 2,125 shares during the period. Institutional investors and hedge funds own 31.43% of the company’s stock.

MoneyLion Trading Down 3.9 %

NYSE ML opened at $46.44 on Friday. The firm’s fifty day moving average price is $42.94 and its two-hundred day moving average price is $64.14. MoneyLion Inc. has a 1 year low of $17.40 and a 1 year high of $106.82. The firm has a market capitalization of $488.46 million, a P/E ratio of -16.01 and a beta of 2.69.

MoneyLion (NYSE:ML) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.27. MoneyLion had a net margin of 0.40% and a return on equity of 0.72%. The firm had revenue of $130.90 million for the quarter, compared to analyst estimates of $127.03 million. During the same period in the prior year, the firm posted ($0.42) earnings per share. The company’s quarterly revenue was up 22.9% compared to the same quarter last year. On average, research analysts anticipate that MoneyLion Inc. will post 1.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Timmie Hong sold 5,139 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $45.10, for a total value of $231,768.90. Following the transaction, the insider now directly owns 110,558 shares of the company’s stock, valued at $4,986,165.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director John C. Chrystal acquired 5,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 44,967 shares of the company’s stock, valued at $2,116,596.69. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Timmie Hong sold 5,139 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 110,558 shares in the company, valued at $4,986,165.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,059 shares of company stock valued at $1,988,757. 14.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on ML. Needham & Company LLC reiterated a “buy” rating and issued a $70.00 price target on shares of MoneyLion in a report on Friday, October 4th. Northland Capmk upgraded shares of MoneyLion to a “strong-buy” rating in a report on Wednesday. B. Riley reiterated a “buy” rating and issued a $133.00 price target on shares of MoneyLion in a report on Tuesday, June 25th. Cantor Fitzgerald raised shares of MoneyLion to a “strong-buy” rating in a research report on Thursday, October 3rd. Finally, Northland Securities began coverage on shares of MoneyLion in a research report on Wednesday. They issued an “outperform” rating and a $60.00 price objective on the stock. One research analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $89.17.

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.