MultiPlan (NYSE:MPLN) Shares Down 9.2%

MultiPlan Co. (NYSE:MPLNGet Rating) fell 9.2% during mid-day trading on Thursday . The company traded as low as $4.52 and last traded at $4.55. 33,251 shares traded hands during trading, a decline of 98% from the average session volume of 1,427,178 shares. The stock had previously closed at $5.01.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MPLN. Citigroup increased their price target on MultiPlan from $6.00 to $6.50 in a research note on Wednesday, May 11th. The Goldman Sachs Group began coverage on MultiPlan in a research note on Tuesday, July 12th. They set a “neutral” rating and a $6.50 price target for the company.

MultiPlan Trading Down 1.8 %

The firm has a market capitalization of $2.80 billion, a P/E ratio of 17.56 and a beta of -0.06. The company has a debt-to-equity ratio of 2.04, a quick ratio of 2.25 and a current ratio of 2.25. The firm has a 50 day moving average price of $5.30 and a two-hundred day moving average price of $4.69.

MultiPlan (NYSE:MPLNGet Rating) last released its quarterly earnings data on Tuesday, May 10th. The company reported $0.07 earnings per share for the quarter. The business had revenue of $298.05 million during the quarter. MultiPlan had a return on equity of 6.80% and a net margin of 13.67%.

Institutional Investors Weigh In On MultiPlan

Several large investors have recently modified their holdings of the stock. Xponance Inc. lifted its holdings in shares of MultiPlan by 31.6% in the second quarter. Xponance Inc. now owns 20,394 shares of the company’s stock valued at $112,000 after purchasing an additional 4,895 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of MultiPlan by 24.9% in the second quarter. Victory Capital Management Inc. now owns 239,593 shares of the company’s stock valued at $1,315,000 after purchasing an additional 47,733 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of MultiPlan by 408.5% during the second quarter. SG Americas Securities LLC now owns 137,624 shares of the company’s stock worth $756,000 after acquiring an additional 110,559 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of MultiPlan by 50.5% during the second quarter. Arizona State Retirement System now owns 51,918 shares of the company’s stock worth $285,000 after acquiring an additional 17,411 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of MultiPlan during the second quarter worth $508,000. 90.87% of the stock is owned by institutional investors.

MultiPlan Company Profile

(Get Rating)

MultiPlan Corporation, together with its subsidiaries, provides data analytics and technology-enabled cost management, payment, and revenue integrity solutions to the healthcare industry in the United States. The company offers analytics-based services, which reduce medical costs through data-driven algorithms that detect claims over-charges and recommend or negotiate reimbursement; network-based services that reduce medical costs through contracted discounts with healthcare providers; and payment and revenue integrity services, which reduce medical costs by identifying and removing improper and unnecessary charges paid during the claim.

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