MP Materials Corp. $MP Shares Sold by Bernzott Capital Advisors

Key Points

• Bernzott Capital Advisors reduced its stake in MP Materials Corp. by 25.3%, now holding 309,642 shares worth approximately $10.3 million, making it their largest holding.
• COO Michael Stuart Rosenthal sold 150,000 shares of MP Materials stock for over $10.8 million, resulting in a 10.46% reduction in his ownership.
• MP Materials reported quarterly earnings showing a revenue increase of 83.6% year-over-year, with EPS of ($0.13), beating expectations of ($0.16).

Bernzott Capital Advisors decreased its holdings in shares of MP Materials Corp. (NYSE:MP - Free Report) by 25.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 309,642 shares of the company's stock after selling 104,859 shares during the quarter. MP Materials makes up approximately 5.3% of Bernzott Capital Advisors' holdings, making the stock its biggest holding. Bernzott Capital Advisors owned 0.19% of MP Materials worth $10,302,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of MP. Harbour Investments Inc. grew its holdings in shares of MP Materials by 32.9% during the second quarter. Harbour Investments Inc. now owns 1,220 shares of the company's stock valued at $41,000 after purchasing an additional 302 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in MP Materials by 2.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 12,955 shares of the company's stock valued at $412,000 after purchasing an additional 358 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in MP Materials by 3.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 12,400 shares of the company's stock valued at $413,000 after purchasing an additional 458 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in MP Materials by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,793 shares of the company's stock worth $265,000 after buying an additional 479 shares during the last quarter. Finally, CWM LLC increased its position in MP Materials by 14.1% in the second quarter. CWM LLC now owns 4,070 shares of the company's stock worth $135,000 after buying an additional 504 shares during the period. Institutional investors own 52.55% of the company's stock.

Insider Transactions at MP Materials

In related news, COO Michael Stuart Rosenthal sold 150,000 shares of MP Materials stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $72.02, for a total transaction of $10,803,000.00. Following the transaction, the chief operating officer directly owned 1,284,409 shares of the company's stock, valued at $92,503,136.18. The trade was a 10.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.50% of the stock is currently owned by insiders.

MP Materials Price Performance

NYSE MP opened at $69.85 on Thursday. MP Materials Corp. has a 12 month low of $15.56 and a 12 month high of $100.25. The firm has a market capitalization of $12.37 billion, a PE ratio of -110.87 and a beta of 2.32. The company's 50 day simple moving average is $72.02 and its 200 day simple moving average is $48.25. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.60 and a quick ratio of 3.12.

MP Materials (NYSE:MP - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.03. MP Materials had a negative return on equity of 9.34% and a negative net margin of 41.87%.The company had revenue of $57.39 million for the quarter, compared to analysts' expectations of $44.84 million. During the same period last year, the firm earned ($0.17) EPS. The firm's revenue for the quarter was up 83.6% on a year-over-year basis. As a group, equities research analysts forecast that MP Materials Corp. will post -0.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MP. Weiss Ratings reissued a "sell (d-)" rating on shares of MP Materials in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of MP Materials from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. DA Davidson upped their target price on shares of MP Materials from $32.00 to $82.00 and gave the stock a "buy" rating in a research report on Tuesday, September 2nd. Daiwa America upgraded shares of MP Materials to a "strong-buy" rating in a research note on Monday, September 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on MP Materials from $18.00 to $64.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $77.80.

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.

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