MoneyLion (NYSE:ML) Shares Gap Up on Earnings Beat

MoneyLion Inc. (NYSE:ML) shares gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. 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.

The company reported $0.60 earnings per share for the quarter, beating 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 business had revenue of $121.00 million during the quarter, compared to analyst estimates of $116.32 million. During the same period last year, the business earned ($1.29) EPS. The business’s revenue was up 29.1% on a year-over-year basis.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC boosted their price target on MoneyLion from $90.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday. Lake Street Capital increased their target price on shares of MoneyLion from $75.00 to $109.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Craig Hallum lifted their price target on shares of MoneyLion from $100.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday. Finally, TheStreet upgraded shares of MoneyLion from a “d” rating to a “c-” rating in a research note on Thursday, March 7th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, MoneyLion has an average rating of “Buy” and a consensus target price of $78.60.

Insider Activity at MoneyLion

In other news, Director Jeff Gary sold 945 shares of MoneyLion stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $61.10, for a total value of $57,739.50. Following the transaction, the director now directly owns 7,731 shares of the company’s stock, valued at $472,364.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Jeff Gary sold 945 shares of MoneyLion stock in a transaction on Friday, March 15th. The stock was sold at an average price of $61.10, for a total transaction of $57,739.50. Following the transaction, the director now owns 7,731 shares in the company, valued at $472,364.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard Correia sold 87,989 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $65.18, for a total value of $5,735,123.02. Following the transaction, the chief financial officer now directly owns 262,481 shares in the company, valued at $17,108,511.58. The disclosure for this sale can be found here. Insiders sold 149,111 shares of company stock worth $9,789,064 in the last quarter. 14.10% of the stock is owned by company insiders.

Institutional Trading of MoneyLion

Hedge funds and other institutional investors have recently modified their holdings of the company. HighTower Advisors LLC increased its holdings in shares of MoneyLion by 15.8% during the 3rd quarter. HighTower Advisors LLC now owns 37,346 shares of the company’s stock valued at $808,000 after acquiring an additional 5,100 shares during the last quarter. EAM Investors LLC bought a new position in shares of MoneyLion in the third quarter valued at approximately $1,145,000. Manatuck Hill Partners LLC acquired a new stake in shares of MoneyLion in the third quarter worth $1,407,000. Orion Capital Management LLC bought a new stake in shares of MoneyLion during the 3rd quarter worth $50,000. Finally, Intellectus Partners LLC bought a new stake in MoneyLion during the fourth quarter valued at about $334,000. 31.43% of the stock is currently owned by hedge funds and other institutional investors.

MoneyLion Stock Performance

The firm has a 50 day moving average of $68.77 and a two-hundred day moving average of $53.08. The stock has a market cap 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.