Charles Schwab Investment Management Inc. Boosts Stock Holdings in MoneyLion Inc. (NYSE:ML)

Charles Schwab Investment Management Inc. boosted its position in shares of MoneyLion Inc. (NYSE:ML) by 6.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,087 shares of the company’s stock after buying an additional 3,179 shares during the period. Charles Schwab Investment Management Inc. owned 0.50% of MoneyLion worth $2,289,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Covestor Ltd lifted its holdings in MoneyLion by 63.6% in the third quarter. Covestor Ltd now owns 656 shares of the company’s stock valued at $27,000 after acquiring an additional 255 shares during the last quarter. Quest Partners LLC lifted its stake in MoneyLion by 3,016.7% during the third quarter. Quest Partners LLC now owns 3,927 shares of the company’s stock worth $163,000 after purchasing an additional 3,801 shares in the last quarter. Fiducient Advisors LLC acquired a new position in MoneyLion during the second quarter worth $204,000. Commonwealth Equity Services LLC acquired a new position in MoneyLion during the second quarter worth $227,000. Finally, Private Ocean LLC acquired a new position in MoneyLion during the second quarter worth $238,000. 31.43% of the stock is currently owned by hedge funds and other institutional investors.

MoneyLion Price Performance

Shares of ML opened at $87.38 on Monday. The firm has a 50 day simple moving average of $66.00 and a 200-day simple moving average of $62.46. MoneyLion Inc. has a 1-year low of $36.65 and a 1-year high of $106.82. The stock has a market cap of $970.01 million, a price-to-earnings ratio of 397.18 and a beta of 3.08.

Analyst Ratings Changes

ML has been the topic of a number of recent research reports. Cantor Fitzgerald raised MoneyLion to a “strong-buy” rating in a research report on Thursday, October 3rd. Northland Securities upped their price objective on MoneyLion from $80.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Oppenheimer raised MoneyLion from a “market perform” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research report on Thursday, November 7th. Northland Capmk raised MoneyLion to a “strong-buy” rating in a research report on Wednesday, October 16th. Finally, Lake Street Capital reaffirmed a “hold” rating and set a $82.00 price objective (down previously from $109.00) on shares of MoneyLion in a research report on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $100.00.

Insider Transactions at MoneyLion

In other MoneyLion news, Director Chris Sugden sold 25,000 shares of MoneyLion stock in a transaction on Friday, December 6th. The shares were sold at an average price of $86.22, for a total value of $2,155,500.00. Following the transaction, the director now owns 1,062,505 shares in the company, valued at $91,609,181.10. This trade represents a 2.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Mark Torossian sold 328 shares of MoneyLion stock in a transaction on Friday, November 8th. The shares were sold at an average price of $80.00, for a total transaction of $26,240.00. Following the completion of the transaction, the chief accounting officer now owns 20,409 shares in the company, valued at approximately $1,632,720. This trade represents a 1.58 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 107,538 shares of company stock valued at $8,899,202 in the last ninety days. Corporate insiders own 11.90% of the company’s stock.

MoneyLion 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.