Strengthening Families & Communities LLC Trims Stake in MP Materials Corp. (NYSE:MP)

Strengthening Families & Communities LLC reduced its stake in shares of MP Materials Corp. (NYSE:MP) by 96.6% in the 4th quarter, Holdings Channel reports. The fund owned 2,328 shares of the company’s stock after selling 66,849 shares during the period. Strengthening Families & Communities LLC’s holdings in MP Materials were worth $36,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of MP. Empowered Funds LLC purchased a new stake in shares of MP Materials in the fourth quarter valued at approximately $228,000. Tandem Financial LLC purchased a new stake in shares of MP Materials in the fourth quarter valued at approximately $698,000. Guidance Capital Inc. purchased a new stake in shares of MP Materials in the fourth quarter valued at approximately $344,000. Oak Family Advisors LLC purchased a new stake in shares of MP Materials in the fourth quarter valued at approximately $530,000. Finally, DAVENPORT & Co LLC increased its position in shares of MP Materials by 20.6% in the fourth quarter. DAVENPORT & Co LLC now owns 34,925 shares of the company’s stock valued at $545,000 after buying an additional 5,973 shares in the last quarter. 52.55% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other MP Materials news, CFO Ryan Corbett sold 15,195 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $18.30, for a total transaction of $278,068.50. Following the transaction, the chief financial officer now owns 295,021 shares of the company’s stock, valued at approximately $5,398,884.30. The trade was a 4.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO James H. Litinsky sold 300,000 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $20.22, for a total value of $6,066,000.00. Following the transaction, the chief executive officer now directly owns 18,043,076 shares in the company, valued at $364,830,996.72. This trade represents a 1.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,271,085 shares of company stock valued at $26,757,696. Insiders own 12.60% of the company’s stock.

MP Materials Stock Performance

NYSE MP opened at $25.60 on Tuesday. The stock’s fifty day moving average is $19.81 and its two-hundred day moving average is $17.30. The company has a debt-to-equity ratio of 0.88, a current ratio of 6.93 and a quick ratio of 6.13. MP Materials Corp. has a fifty-two week low of $10.02 and a fifty-two week high of $26.00.

Analyst Ratings Changes

MP has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price objective on MP Materials from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Canaccord Genuity Group lifted their price target on MP Materials from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Finally, BMO Capital Markets lifted their price target on MP Materials from $19.50 to $22.00 and gave the stock a “market perform” rating in a research note 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.45.

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.