Oak Family Advisors LLC Makes New $530,000 Investment in MP Materials Corp. (NYSE:MP)

Oak Family Advisors LLC purchased a new stake in MP Materials Corp. (NYSE:MP) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 33,952 shares of the company’s stock, valued at approximately $530,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Sei Investments Co. lifted its position in shares of MP Materials by 23.1% during the second quarter. Sei Investments Co. now owns 13,389 shares of the company’s stock valued at $170,000 after buying an additional 2,515 shares during the last quarter. Marshall Wace LLP purchased a new position in MP Materials in the second quarter worth $219,000. Millennium Management LLC increased its position in shares of MP Materials by 425.5% during the second quarter. Millennium Management LLC now owns 801,328 shares of the company’s stock worth $10,201,000 after purchasing an additional 648,838 shares in the last quarter. Algert Global LLC purchased a new stake in shares of MP Materials during the 2nd quarter valued at $182,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of MP Materials by 58.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 104,477 shares of the company’s stock worth $1,330,000 after purchasing an additional 38,377 shares in the last quarter. 52.55% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO James H. Litinsky sold 234,667 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $20.68, for a total transaction of $4,852,913.56. Following the completion of the sale, the chief executive officer now directly owns 17,608,409 shares of the company’s stock, valued at $364,141,898.12. This trade represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Ryan Corbett sold 35,000 shares of MP Materials stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $21.50, for a total transaction of $752,500.00. Following the completion of the sale, the chief financial officer now directly owns 260,021 shares in the company, valued at approximately $5,590,451.50. The trade was a 11.86 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 884,862 shares of company stock worth $17,484,482. Company insiders own 12.60% of the company’s stock.

MP Materials Stock Performance

MP stock opened at $21.87 on Monday. The company has a current ratio of 6.93, a quick ratio of 6.13 and a debt-to-equity ratio of 0.88. The business’s fifty day moving average price is $19.43 and its 200 day moving average price is $16.88. MP Materials Corp. has a 12-month low of $10.02 and a 12-month high of $24.01.

MP Materials (NYSE:MP) last announced its earnings results on Thursday, November 7th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.04). The business had revenue of $62.93 million for the quarter, compared to analysts’ expectations of $45.30 million. MP Materials had a negative return on equity of 6.78% and a negative net margin of 32.24%. During the same period in the previous year, the company earned $0.02 earnings per share. On average, equities research analysts expect that MP Materials Corp. will post -0.54 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MP. JPMorgan Chase & Co. raised their price target on shares of MP Materials from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Canaccord Genuity Group raised their price target on shares of MP Materials from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Finally, BMO Capital Markets raised their target price on MP Materials from $19.50 to $22.00 and gave the company a “market perform” rating in a research report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, MP Materials currently has an average rating of “Moderate Buy” and a consensus target price of $22.45.

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.