Man Group plc Buys New Shares in MP Materials Corp. (NYSE:MP)

Man Group plc acquired a new stake in shares of MP Materials Corp. (NYSE:MP - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 14,017 shares of the company's stock, valued at approximately $219,000.

A number of other institutional investors and hedge funds have also made changes to their positions in MP. Nisa Investment Advisors LLC increased its position in shares of MP Materials by 204.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 3,275 shares of the company's stock valued at $51,000 after acquiring an additional 2,200 shares in the last quarter. SG Americas Securities LLC increased its holdings in MP Materials by 167.3% in the 4th quarter. SG Americas Securities LLC now owns 35,902 shares of the company's stock worth $560,000 after buying an additional 22,473 shares in the last quarter. Janney Montgomery Scott LLC raised its position in MP Materials by 5.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 54,626 shares of the company's stock worth $852,000 after buying an additional 3,025 shares during the last quarter. Mutual Advisors LLC lifted its stake in MP Materials by 15.5% during the 4th quarter. Mutual Advisors LLC now owns 29,043 shares of the company's stock valued at $453,000 after acquiring an additional 3,904 shares during the period. Finally, Geneos Wealth Management Inc. grew its stake in shares of MP Materials by 205.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 2,749 shares of the company's stock worth $43,000 after acquiring an additional 1,849 shares during the period. Institutional investors own 52.55% of the company's stock.

MP Materials Price Performance

Shares of NYSE:MP traded up $0.27 on Thursday, reaching $19.87. The company's stock had a trading volume of 4,266,032 shares, compared to its average volume of 3,774,055. The company has a 50-day simple moving average of $23.50 and a 200 day simple moving average of $22.00. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. MP Materials Corp. has a 52-week low of $10.02 and a 52-week high of $29.72. The company has a market cap of $3.25 billion, a P/E ratio of -33.68 and a beta of 2.24.

MP Materials (NYSE:MP - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.02). MP Materials had a negative net margin of 32.09% and a negative return on equity of 8.44%. The firm had revenue of $60.81 million during the quarter, compared to analysts' expectations of $64.74 million. During the same period in the prior year, the company posted ($0.04) EPS. The company's revenue was up 24.9% compared to the same quarter last year. As a group, equities research analysts anticipate that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other MP Materials news, CEO James H. Litinsky sold 199,180 shares of the company's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $27.08, for a total value of $5,393,794.40. Following the completion of the sale, the chief executive officer now directly owns 13,643,076 shares in the company, valued at approximately $369,454,498.08. This represents a 1.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ryan Corbett sold 15,000 shares of MP Materials stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $27.00, for a total value of $405,000.00. Following the completion of the sale, the chief financial officer now owns 214,812 shares of the company's stock, valued at $5,799,924. The trade was a 6.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 943,792 shares of company stock worth $25,286,567 over the last quarter. Company insiders own 9.50% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. JPMorgan Chase & Co. dropped their target price on MP Materials from $21.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday, May 12th. DA Davidson boosted their price objective on shares of MP Materials from $25.00 to $32.00 and gave the company a "buy" rating in a research report on Wednesday, March 19th. Finally, BMO Capital Markets boosted their price objective on 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 research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $23.61.

MP Materials Company 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.