Skandinaviska Enskilda Banken AB publ Takes $842,000 Position in MoneyLion Inc. (NYSE:ML)

Skandinaviska Enskilda Banken AB publ acquired a new position in shares of MoneyLion Inc. (NYSE:ML) during the fourth quarter, HoldingsChannel reports. The fund acquired 9,752 shares of the company’s stock, valued at approximately $842,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. purchased a new stake in shares of MoneyLion during the 4th quarter worth approximately $29,000. New York State Teachers Retirement System acquired a new position in MoneyLion during the fourth quarter worth $67,000. Point72 DIFC Ltd purchased a new stake in MoneyLion during the third quarter worth $40,000. FMR LLC grew its holdings in MoneyLion by 154.6% in the third quarter. FMR LLC now owns 1,049 shares of the company’s stock valued at $44,000 after purchasing an additional 637 shares during the last quarter. Finally, PFG Investments LLC purchased a new position in shares of MoneyLion in the fourth quarter valued at $215,000. 31.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ML has been the topic of several recent research reports. Northland Securities boosted their price objective on shares of MoneyLion from $80.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of MoneyLion in a report on Friday, March 7th. Lake Street Capital reiterated a “hold” rating and issued a $82.00 price target (down from $109.00) on shares of MoneyLion in a research report on Wednesday, December 11th. Finally, B. Riley downgraded MoneyLion from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $133.00 to $90.00 in a research report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, MoneyLion currently has an average rating of “Moderate Buy” and an average price target of $92.83.

MoneyLion Price Performance

NYSE:ML opened at $87.03 on Tuesday. The firm has a market cap of $985.17 million, a PE ratio of 395.59 and a beta of 3.04. The firm has a 50 day simple moving average of $86.73 and a 200-day simple moving average of $71.12. MoneyLion Inc. has a 1-year low of $36.65 and a 1-year high of $106.82.

Insider Buying and Selling at MoneyLion

In related news, CAO Mark Torossian sold 1,136 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $87.26, for a total value of $99,127.36. Following the completion of the sale, the chief accounting officer now directly owns 17,476 shares in the company, valued at approximately $1,524,955.76. The trade was a 6.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Timmie Hong sold 6,254 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $86.39, for a total transaction of $540,283.06. Following the transaction, the insider now directly owns 91,011 shares in the company, valued at approximately $7,862,440.29. This represents a 6.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 54,309 shares of company stock worth $4,716,335. Insiders own 11.90% of the company’s stock.

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.