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MultiPlan (NYSE:MPLN) Hits New 1-Year Low at $2.88

Financial News Live · Sep 23, 2022 15:22

MultiPlan Co. (NYSE:MPLN – Get Rating)'s share price reached a new 52-week low on Friday . The company traded as low as $2.88 and last traded at $2.95, with a volume of 30007 shares. The stock had previously closed at $2.95.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group started coverage on MultiPlan in a report on Tuesday, July 12th. They set a "neutral" rating and a $6.50 target price for the company.

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MultiPlan Stock Performance

The business has a fifty day simple moving average of $4.04 and a two-hundred day simple moving average of $4.58. The company has a market cap of $1.85 billion, a PE ratio of 11.76 and a beta of 0.21. The company has a debt-to-equity ratio of 2.02, a current ratio of 3.17 and a quick ratio of 3.17.

MultiPlan (NYSE:MPLN – Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.02 earnings per share (EPS) for the quarter. The business had revenue of $290.13 million for the quarter. MultiPlan had a return on equity of 6.76% and a net margin of 13.67%.

Insider Transactions at MultiPlan

In other news, SVP Michael Kim sold 50,000 shares of the company's stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $4.37, for a total transaction of $218,500.00. Following the transaction, the senior vice president now directly owns 362,386 shares of the company's stock, valued at $1,583,626.82. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, SVP Michael Kim sold 50,000 shares of the company's stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $4.37, for a total value of $218,500.00. Following the transaction, the senior vice president now directly owns 362,386 shares of the company's stock, valued at approximately $1,583,626.82. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mark Tabak sold 4,500,000 shares of the company's stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $3.80, for a total value of $17,100,000.00. Following the completion of the transaction, the director now directly owns 1,099,636 shares in the company, valued at $4,178,616.80. The disclosure for this sale can be found here. Insiders own 10.10% of the company's stock.

Institutional Investors Weigh In On MultiPlan

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MPLN. Neo Ivy Capital Management acquired a new stake in MultiPlan during the 2nd quarter worth about $28,000. Power Corp of Canada purchased a new stake in shares of MultiPlan during the 1st quarter worth about $33,000. Strs Ohio purchased a new stake in shares of MultiPlan during the 1st quarter worth about $34,000. Lazard Asset Management LLC boosted its stake in shares of MultiPlan by 171.2% during the 2nd quarter. Lazard Asset Management LLC now owns 6,971 shares of the company's stock worth $38,000 after acquiring an additional 4,401 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of MultiPlan by 284.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 10,420 shares of the company's stock worth $49,000 after acquiring an additional 7,710 shares in the last quarter.

About MultiPlan

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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.