Baird Financial Group Inc. Has $1.19 Million Position in MP Materials Corp. (NYSE:MP)

Baird Financial Group Inc. raised its stake in shares of MP Materials Corp. (NYSE:MP) by 811.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 75,992 shares of the company’s stock after purchasing an additional 67,657 shares during the period. Baird Financial Group Inc.’s holdings in MP Materials were worth $1,185,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MP. Principal Financial Group Inc. boosted its stake in shares of MP Materials by 35.7% during the 3rd quarter. Principal Financial Group Inc. now owns 604,892 shares of the company’s stock valued at $10,676,000 after buying an additional 159,200 shares during the period. Wedmont Private Capital acquired a new stake in shares of MP Materials during the 4th quarter valued at $159,000. Miracle Mile Advisors LLC boosted its stake in shares of MP Materials by 12.4% during the 4th quarter. Miracle Mile Advisors LLC now owns 15,900 shares of the company’s stock valued at $248,000 after buying an additional 1,750 shares during the period. Simon Quick Advisors LLC boosted its stake in shares of MP Materials by 3.4% during the 4th quarter. Simon Quick Advisors LLC now owns 52,544 shares of the company’s stock valued at $820,000 after buying an additional 1,735 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in shares of MP Materials by 204.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company’s stock valued at $51,000 after buying an additional 2,200 shares during the period. Institutional investors and hedge funds own 52.55% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Ryan Corbett sold 15,000 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $27.00, for a total transaction of $405,000.00. Following the transaction, the chief financial officer now owns 214,812 shares in the company, valued at approximately $5,799,924. The trade was a 6.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James H. Litinsky sold 199,180 shares of the business’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $27.08, for a total transaction of $5,393,794.40. Following the transaction, the chief executive officer now owns 13,643,076 shares in the company, valued at approximately $369,454,498.08. The trade was a 1.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 943,792 shares of company stock valued at $25,286,567 in the last quarter. Insiders own 9.50% of the company’s stock.

MP Materials Stock Down 1.7%

MP Materials stock opened at $20.78 on Wednesday. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of -35.22 and a beta of 2.24. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. MP Materials Corp. has a fifty-two week low of $10.02 and a fifty-two week high of $29.72. The firm has a fifty day moving average price of $24.67 and a two-hundred day moving average price of $21.91.

MP Materials (NYSE:MP) last released its earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). The firm had revenue of $60.81 million for the quarter, compared to analyst estimates of $64.74 million. MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. The firm’s revenue was up 24.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.04) EPS. As a group, analysts forecast that MP Materials Corp. will post -0.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MP shares. JPMorgan Chase & Co. reduced their price objective on shares of MP Materials from $21.00 to $18.00 and set a “neutral” rating for the company in a research note on Monday. DA Davidson lifted their price objective on shares of MP Materials from $25.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, March 19th. Finally, BMO Capital Markets lifted their price objective on shares of MP Materials from $22.00 to $29.00 and gave the company a “market perform” rating in a research note on Thursday, March 20th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, MP Materials has an average rating of “Moderate Buy” and an average price target of $23.61.

MP Materials Profile

MP Materials Corp., together with its subsidiaries, produces rare earth materials. The company owns and operates the Mountain Pass Rare Earth mine and processing facility in North America. It holds the mineral rights to the Mountain Pass mine and surrounding areas, as well as intellectual property rights related to the processing and development of rare earth minerals.