MoneyLion Inc. (NYSE:ML) has reported that Richard Correia, the company's President, CFO, and Treasurer, sold a significant number of shares in the company. According to the latest Form 4 filing with the Securities and Exchange Commission, Correia sold shares totaling over $1.4 million. The transactions occurred on May 13 and May 14, 2024, with share prices ranging from $79.9074 to $83.2599.
On May 13, Correia sold 1,779 shares at an average price of $79.9074, 2,200 shares at $80.8257, 1,447 shares at $81.9911, 737 shares at $82.9301, and 615 shares at $83.2599. The following day, the CFO continued to sell shares, offloading 6,171 shares at an average price of $80.5701, 1,387 shares at $81.2920, 2,489 shares at $80.11, and 542 shares at the same price of $80.11.
In addition to the sales, Correia also engaged in option exercises, labeled as "M" transactions, which are not included in the total sales value, with a total value of $296,281 and prices between $6.6 and $12.0. Furthermore, the filing included "F" transactions, representing shares withheld to cover tax liabilities upon the vesting of restricted stock units and performance share units, amounting to $1,010,917 at a price of $80.99.
Investors and the market often watch the buying and selling behavior of company insiders for insights into a company's prospects. Transactions by executives can be based on various personal financial considerations and do not necessarily indicate the company's future performance.
MoneyLion Inc. is a financial services company that has experienced changes since its earlier days as Fusion Acquisition Corp. The company's stock, listed on the New York Stock Exchange under the ticker symbol ML, is subject to the fluctuations and trends of the market, as are the actions of its executives.
This report provides a detailed account of the recent transactions made by Correia, offering transparency to investors and the public regarding the financial movements of MoneyLion's insiders.
InvestingPro Insights
Amid the recent news of insider selling at MoneyLion Inc., investors may seek additional context to understand the company's financial health and future outlook. According to the latest data from InvestingPro, MoneyLion has a market capitalization of $873.72 million. The company's revenue has shown a robust growth of 23.6% over the last twelve months as of Q1 2024, with a gross profit margin of 50.7%, indicating strong profitability on the revenue it generates.
InvestingPro Tips suggest that MoneyLion's stock generally trades with high price volatility, which could be of interest to investors looking for dynamic trading opportunities. Additionally, despite not being profitable over the last twelve months, analysts predict that the company will turn a profit this year. This could signal a potential shift in the company's financial trajectory, possibly influencing the decision-making of both current and prospective shareholders.
For those interested in a deeper analysis, there are additional InvestingPro Tips available, which could provide further insights into MoneyLion's financials and market performance. By using the coupon code PRONEWS24, investors can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription to access these valuable insights. This could be particularly beneficial given MoneyLion's significant one-year price total return of 578.36%, as investors may want to understand the factors driving such impressive growth.
Ultimately, while insider transactions like those of Richard Correia can provide some signals, a comprehensive view of MoneyLion's financials and market performance is essential for a well-rounded investment strategy.
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