Renaissance Technologies LLC Has $15.75 Million Holdings in MoneyLion Inc. (NYSE:ML)

Renaissance Technologies LLC lifted its holdings in MoneyLion Inc. (NYSE:ML) by 64.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 214,129 shares of the company’s stock after purchasing an additional 83,700 shares during the period. Renaissance Technologies LLC owned 2.04% of MoneyLion worth $15,747,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. ClariVest Asset Management LLC raised its holdings in MoneyLion by 2.6% in the 2nd quarter. ClariVest Asset Management LLC now owns 10,175 shares of the company’s stock worth $748,000 after acquiring an additional 257 shares during the period. EntryPoint Capital LLC bought a new position in MoneyLion in the 1st quarter worth $70,000. Empowered Funds LLC raised its holdings in MoneyLion by 8.2% in the 1st quarter. Empowered Funds LLC now owns 13,896 shares of the company’s stock worth $991,000 after acquiring an additional 1,050 shares during the period. American Century Companies Inc. raised its holdings in MoneyLion by 26.8% in the 2nd quarter. American Century Companies Inc. now owns 9,808 shares of the company’s stock worth $721,000 after acquiring an additional 2,076 shares during the period. Finally, Quantbot Technologies LP raised its holdings in MoneyLion by 69.9% in the 1st quarter. Quantbot Technologies LP now owns 5,167 shares of the company’s stock worth $369,000 after acquiring an additional 2,125 shares during the period. Institutional investors and hedge funds own 31.43% of the company’s stock.

MoneyLion Stock Performance

NYSE:ML opened at $43.48 on Friday. The firm’s 50-day moving average is $52.24 and its 200-day moving average is $67.56. MoneyLion Inc. has a 52-week low of $17.40 and a 52-week high of $106.82. The company has a market cap of $457.32 million, a price-to-earnings ratio of -14.99 and a beta of 2.70.

MoneyLion (NYSE:ML) last posted its quarterly earnings data 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 company had revenue of $130.90 million for the quarter, compared to the consensus estimate of $127.03 million. During the same quarter in the previous year, the firm posted ($0.42) EPS. The business’s revenue was up 22.9% compared to the same quarter last year. Equities analysts predict that MoneyLion Inc. will post 1.4 EPS for the current year.

Insider Activity

In other news, CEO Diwakar Choubey sold 17,647 shares of MoneyLion stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $86.56, for a total transaction of $1,527,524.32. Following the sale, the chief executive officer now directly owns 736,513 shares in the company, valued at approximately $63,752,565.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CAO Mark Torossian sold 811 shares of MoneyLion stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $45.10, for a total transaction of $36,576.10. Following the sale, the chief accounting officer now directly owns 21,395 shares in the company, valued at approximately $964,914.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Diwakar Choubey sold 17,647 shares of MoneyLion stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $86.56, for a total transaction of $1,527,524.32. Following the sale, the chief executive officer now owns 736,513 shares in the company, valued at $63,752,565.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,737 shares of company stock worth $4,028,078. Corporate insiders own 14.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on ML. B. Riley reiterated a “buy” rating and issued a $133.00 target price on shares of MoneyLion in a report on Tuesday, June 25th. Needham & Company LLC dropped their target price on shares of MoneyLion from $100.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $95.00.

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.