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MultiPlan (NYSE:MPLN) Hits New 12-Month Low at $2.88

Financial News Live · Sep 29, 2022 15:42

MultiPlan Co. (NYSE:MPLN – Get Rating)'s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $2.88 and last traded at $2.90, with a volume of 21990 shares trading hands. The stock had previously closed at $3.01.

Analyst Ratings Changes

Separately, The Goldman Sachs Group assumed coverage on shares of MultiPlan in a research report on Tuesday, July 12th. They set a "neutral" rating and a $6.50 target price on the stock.

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MultiPlan Stock Performance

The company has a debt-to-equity ratio of 2.02, a current ratio of 3.17 and a quick ratio of 3.17. The company's fifty day simple moving average is $3.87 and its two-hundred day simple moving average is $4.52. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 11.40 and a beta of 0.21.

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

Insiders Place Their Bets

In other news, SVP Michael Kim sold 50,000 shares of the company's stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $4.37, for a total value of $218,500.00. Following the completion of the sale, the senior vice president now owns 362,386 shares in the company, valued at approximately $1,583,626.82. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, 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 sale, the director now owns 1,099,636 shares in the company, valued at approximately $4,178,616.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 completion of the sale, the senior vice president now owns 362,386 shares of the company's stock, valued at approximately $1,583,626.82. The disclosure for this sale can be found here. Corporate insiders own 10.10% of the company's stock.

Institutional Trading of MultiPlan

Several institutional investors have recently made changes to their positions in MPLN. Price T Rowe Associates Inc. MD grew its position in MultiPlan by 3.3% during the second quarter. Price T Rowe Associates Inc. MD now owns 37,901,503 shares of the company's stock valued at $208,079,000 after buying an additional 1,219,754 shares during the period. Beach Point Capital Management LP grew its position in MultiPlan by 49.8% during the first quarter. Beach Point Capital Management LP now owns 12,739,462 shares of the company's stock valued at $59,621,000 after buying an additional 4,237,366 shares during the period. Brown Advisory Inc. bought a new position in MultiPlan during the first quarter valued at about $37,749,000. State Street Corp grew its position in MultiPlan by 8.4% during the second quarter. State Street Corp now owns 7,157,493 shares of the company's stock valued at $39,295,000 after buying an additional 553,066 shares during the period. Finally, Point72 Asset Management L.P. grew its position in MultiPlan by 74.2% during the second quarter. Point72 Asset Management L.P. now owns 4,073,000 shares of the company's stock valued at $22,361,000 after buying an additional 1,734,900 shares during the period.

MultiPlan Company Profile

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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.