Jackson Square Capital LLC Invests $1.78 Million in MP Materials Corp. $MP

Key Points

• Jackson Square Capital LLC opened a new 4Q position in MP Materials, buying 35,253 shares worth about $1.78 million according to its latest 13F filing.
• CFO Ryan Corbett sold 46,000 shares at an average price of $60 (≈$2.76 million), cutting his direct stake by 26.28%; corporate insiders now own about 9.5% of the stock.
• MP Materials reported Q4 EPS of $0.09 (beating estimates) but revenue of $52.7M missed expectations and fell 13.6% year-over-year; the company has a ~$9.7B market cap, a negative P/E, and an average analyst rating of Buy with a $78.91 consensus target.

Jackson Square Capital LLC purchased a new position in shares of MP Materials Corp. (NYSE:MP - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 35,253 shares of the company's stock, valued at approximately $1,781,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sound Income Strategies LLC boosted its position in shares of MP Materials by 420.0% during the third quarter. Sound Income Strategies LLC now owns 364 shares of the company's stock worth $26,000 after buying an additional 294 shares during the period. Grove Bank & Trust purchased a new position in MP Materials in the third quarter valued at $34,000. SJS Investment Consulting Inc. boosted its holdings in MP Materials by 4,600.0% in the third quarter. SJS Investment Consulting Inc. now owns 564 shares of the company's stock valued at $38,000 after purchasing an additional 552 shares during the period. Hilltop National Bank boosted its holdings in MP Materials by 500.0% in the third quarter. Hilltop National Bank now owns 600 shares of the company's stock valued at $40,000 after purchasing an additional 500 shares during the period. Finally, Bessemer Group Inc. boosted its holdings in MP Materials by 75.9% in the third quarter. Bessemer Group Inc. now owns 642 shares of the company's stock valued at $43,000 after purchasing an additional 277 shares during the period. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other MP Materials news, CFO Ryan Corbett sold 46,000 shares of the firm's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $60.00, for a total value of $2,760,000.00. Following the sale, the chief financial officer directly owned 129,017 shares in the company, valued at $7,741,020. This trade represents a 26.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.50% of the stock is currently owned by corporate insiders.

MP Materials Trading Up 10.3%

NYSE:MP opened at $54.59 on Thursday. MP Materials Corp. has a 12-month low of $18.64 and a 12-month high of $100.25. The company has a current ratio of 7.24, a quick ratio of 6.67 and a debt-to-equity ratio of 0.47. The firm has a market cap of $9.70 billion, a PE ratio of -104.99 and a beta of 1.67. The stock has a fifty day moving average price of $56.97 and a 200 day moving average price of $61.55.

MP Materials (NYSE:MP - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.07. MP Materials had a negative return on equity of 4.28% and a negative net margin of 38.26%.The company had revenue of $52.69 million for the quarter, compared to analysts' expectations of $76.06 million. During the same period last year, the firm earned ($0.12) earnings per share. MP Materials's quarterly revenue was down 13.6% on a year-over-year basis. Sell-side analysts anticipate that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MP shares. DA Davidson reiterated a "buy" rating and issued a $82.00 target price on shares of MP Materials in a report on Wednesday, March 11th. William Blair reiterated an "outperform" rating on shares of MP Materials in a report on Wednesday, March 4th. Wall Street Zen upgraded MP Materials from a "sell" rating to a "hold" rating in a report on Sunday, March 8th. Weiss Ratings reiterated a "sell (d-)" rating on shares of MP Materials in a report on Thursday, January 22nd. Finally, TD Securities upgraded MP Materials to a "strong-buy" rating in a report on Monday, February 9th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $78.91.

MP Materials Profile

MP Materials Corporation operates as a vertically integrated producer of rare earth materials in North America. The company owns and manages the Mountain Pass Rare Earth Mine and Processing Facility in California, the only commercially viable rare earth mining and processing site in the United States. MP Materials extracts, separates and refines critical rare earth elements—such as neodymium, praseodymium, and cerium—which are essential inputs for permanent magnets used in electric vehicles, wind turbines, and various defense applications.

The Mountain Pass mine first began commercial rare earth production in the 1950s and was later operated by Molycorp until its bankruptcy in 2015.

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