OneDigital Investment Advisors LLC Reduces Holdings in MP Materials Corp. (NYSE:MP)

OneDigital Investment Advisors LLC reduced its position in shares of MP Materials Corp. (NYSE:MP - Free Report) by 20.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,628 shares of the company's stock after selling 14,539 shares during the quarter. OneDigital Investment Advisors LLC's holdings in MP Materials were worth $868,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of MP. Envestnet Asset Management Inc. lifted its position in MP Materials by 3.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 20,650 shares of the company's stock valued at $322,000 after acquiring an additional 662 shares during the last quarter. Quadrant Capital Group LLC grew its stake in MP Materials by 40.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company's stock worth $38,000 after buying an additional 701 shares during the last quarter. SWS Partners increased its position in MP Materials by 0.4% during the 4th quarter. SWS Partners now owns 162,503 shares of the company's stock valued at $2,535,000 after buying an additional 707 shares in the last quarter. Handelsbanken Fonder AB raised its stake in MP Materials by 4.0% in the fourth quarter. Handelsbanken Fonder AB now owns 38,800 shares of the company's stock valued at $605,000 after buying an additional 1,500 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in MP Materials by 69.3% in the fourth quarter. GAMMA Investing LLC now owns 3,775 shares of the company's stock worth $59,000 after acquiring an additional 1,545 shares in the last quarter. 52.55% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. DA Davidson increased 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. BMO Capital Markets raised their target price on MP Materials from $22.00 to $29.00 and gave the stock a "market perform" rating in a research note on Thursday, March 20th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $23.61.

MP Materials Stock Up 0.9 %

Shares of MP traded up $0.22 during mid-day trading on Thursday, hitting $24.68. 1,195,780 shares of the company's stock were exchanged, compared to its average volume of 3,600,724. The company has a market cap of $4.03 billion, a price-to-earnings ratio of -41.90 and a beta of 2.24. The stock's 50-day moving average is $24.74 and its 200-day moving average is $21.57. MP Materials Corp. has a fifty-two week low of $10.02 and a fifty-two week high of $29.72. 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 (NYSE:MP - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.05). The business had revenue of $60.99 million for the quarter, compared to analyst estimates of $50.71 million. MP Materials had a negative return on equity of 8.44% and a negative net margin of 32.09%. On average, sell-side analysts anticipate that MP Materials Corp. will post -0.19 earnings per share for the current fiscal year.

Insider Activity

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 sale, the chief executive officer now owns 13,643,076 shares of the company's stock, valued at approximately $369,454,498.08. This represents a 1.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ryan Corbett sold 15,000 shares of the company's stock in a transaction on 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 directly owns 214,812 shares in the company, valued at $5,799,924. This trade represents a 6.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,330,015 shares of company stock valued at $34,559,781. Company insiders own 12.60% of the company's stock.

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.