MP Materials Corp. (NYSE:MP) Shares Bought by Baird Financial Group Inc.

Baird Financial Group Inc. increased its stake in MP Materials Corp. (NYSE:MP - Free Report) by 811.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its holdings in shares of MP Materials by 44.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,537,511 shares of the company's stock valued at $101,986,000 after purchasing an additional 2,005,505 shares during the period. Victory Capital Management Inc. lifted its stake in MP Materials by 3.1% in the 4th quarter. Victory Capital Management Inc. now owns 2,432,389 shares of the company's stock valued at $37,945,000 after purchasing an additional 73,297 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of MP Materials by 8.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,207,017 shares of the company's stock valued at $34,433,000 after acquiring an additional 176,121 shares during the last quarter. Invesco Ltd. raised its stake in shares of MP Materials by 0.4% during the fourth quarter. Invesco Ltd. now owns 2,118,580 shares of the company's stock valued at $33,050,000 after acquiring an additional 7,453 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in MP Materials by 15.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,079,668 shares of the company's stock worth $16,843,000 after buying an additional 144,661 shares during the last quarter. 52.55% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Ryan Corbett sold 60,000 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $25.51, for a total transaction of $1,530,600.00. Following the completion of the sale, the chief financial officer now owns 230,100 shares in the company, valued at $5,869,851. The trade was a 20.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James H. Litinsky sold 161,175 shares of the company's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $26.94, for a total value of $4,342,054.50. Following the transaction, the chief executive officer now directly owns 14,352,689 shares in the company, valued at $386,661,441.66. This represents a 1.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 943,792 shares of company stock worth $25,286,567 in the last quarter. Corporate insiders own 12.60% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. 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 report on Thursday, March 20th. 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 note on Wednesday, March 19th. Finally, JPMorgan Chase & Co. cut their price target 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, May 12th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, MP Materials has an average rating of "Moderate Buy" and a consensus target price of $23.61.

MP Materials Stock Performance

NYSE MP traded up $0.00 during trading hours on Friday, reaching $21.32. The stock had a trading volume of 4,266,891 shares, compared to its average volume of 3,711,799. MP Materials Corp. has a 52-week low of $10.02 and a 52-week high of $29.72. The stock has a fifty day moving average of $24.47 and a 200 day moving average of $21.94. The company has a debt-to-equity ratio of 0.88, a quick ratio of 6.13 and a current ratio of 6.93. The stock has a market cap of $3.48 billion, a P/E ratio of -36.14 and a beta of 2.24.

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

About MP Materials

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.