MoneyLion (NYSE:ML) Shares Gap Up After Better-Than-Expected Earnings

MoneyLion Inc. (NYSE:ML)’s share price gapped up prior to trading on Tuesday following a stronger than expected earnings report. The stock had previously closed at $71.40, but opened at $81.50. MoneyLion shares last traded at $84.19, with a volume of 68,206 shares trading hands.

The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.89. MoneyLion had a negative net margin of 10.69% and a negative return on equity of 11.19%. The firm had revenue of $121.00 million for the quarter, compared to analysts’ expectations of $116.32 million. During the same quarter in the previous year, the firm posted ($1.29) earnings per share. The company’s revenue was up 29.1% on a year-over-year basis.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ML shares. TheStreet upgraded shares of MoneyLion from a “d” rating to a “c-” rating in a research report on Thursday, March 7th. Craig Hallum lifted their price objective on MoneyLion from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday. Lake Street Capital upped their target price on MoneyLion from $75.00 to $109.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Finally, Needham & Company LLC raised their price objective on shares of MoneyLion from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday. 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 an average price target of $78.60.

Insider Activity at MoneyLion

In other news, CEO Diwakar Choubey sold 20,207 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $65.08, for a total transaction of $1,315,071.56. Following the transaction, the chief executive officer now directly owns 805,362 shares of the company’s stock, valued at $52,412,958.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other MoneyLion news, CAO Mark Torossian sold 2,000 shares of MoneyLion stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $67.59, for a total transaction of $135,180.00. Following the completion of the transaction, the chief accounting officer now owns 23,994 shares in the company, valued at approximately $1,621,754.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Diwakar Choubey sold 20,207 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $65.08, for a total transaction of $1,315,071.56. Following the transaction, the chief executive officer now directly owns 805,362 shares in the company, valued at $52,412,958.96. The disclosure for this sale can be found here. Insiders sold 149,111 shares of company stock valued at $9,789,064 in the last three months. Corporate insiders own 14.10% of the company’s stock.

Institutional Investors Weigh In On MoneyLion

Institutional investors and hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC purchased a new position in shares of MoneyLion during the fourth quarter valued at approximately $35,000. Empowered Funds LLC grew its position in shares of 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 buying an additional 1,050 shares during the period. Quantbot Technologies LP boosted its stake in MoneyLion by 69.9% during the first quarter. Quantbot Technologies LP now owns 5,167 shares of the company’s stock worth $369,000 after acquiring an additional 2,125 shares in the last quarter. GSA Capital Partners LLP boosted its position in shares of MoneyLion by 13.5% in the 1st quarter. GSA Capital Partners LLP now owns 18,223 shares of the company’s stock worth $1,300,000 after purchasing an additional 2,165 shares in the last quarter. Finally, Orion Capital Management LLC bought a new stake in MoneyLion in the third quarter worth $50,000. 31.43% of the stock is owned by hedge funds and other institutional investors.

MoneyLion Stock Up 6.0 %

The firm has a fifty day moving average price of $68.77 and a two-hundred day moving average price of $53.08. The stock has a market capitalization of $865.69 million, a P/E ratio of -16.25 and a beta of 2.68.

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.