MultiPlan (NYSE:MPLN) Trading Up 4.2% – Should You Buy?

MultiPlan Co. (NYSE:MPLN)’s share price traded up 4.2% during mid-day trading on Tuesday . The stock traded as high as $9.51 and last traded at $9.51. 4,843 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 64,960 shares. The stock had previously closed at $9.13.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $1.00 price target (down previously from $2.00) on shares of MultiPlan in a research note on Wednesday, August 7th. Citigroup dropped their target price on shares of MultiPlan from $17.20 to $10.00 and set a “neutral” rating for the company in a research report on Monday, September 23rd.

MultiPlan Stock Up 8.1 %

The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 7.48. The company has a market cap of $6.36 billion, a price-to-earnings ratio of -9.32 and a beta of 0.51.

MultiPlan (NYSE:MPLN) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.01. MultiPlan had a negative return on equity of 8.90% and a negative net margin of 122.73%. The company had revenue of $233.48 million for the quarter, compared to the consensus estimate of $253.59 million. During the same period last year, the business posted ($0.06) earnings per share. On average, research analysts predict that MultiPlan Co. will post -7.2 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Travis Dalton purchased 500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average price of $0.37 per share, with a total value of $185,000.00. Following the purchase, the chief executive officer now directly owns 5,004,504 shares in the company, valued at $1,851,666.48. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In other MultiPlan news, CEO Travis Dalton purchased 500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average cost of $0.37 per share, for a total transaction of $185,000.00. Following the transaction, the chief executive officer now directly owns 5,004,504 shares in the company, valued at approximately $1,851,666.48. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, SVP William B. Mintz bought 81,165 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average price of $0.31 per share, for a total transaction of $25,161.15. Following the acquisition, the senior vice president now directly owns 2,009,736 shares of the company’s stock, valued at approximately $623,018.16. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 1,731,165 shares of company stock worth $555,161. 8.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MultiPlan

Several large investors have recently bought and sold shares of MPLN. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of MultiPlan by 68.8% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 45,653 shares of the company’s stock valued at $37,000 after purchasing an additional 18,603 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of MultiPlan by 19.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 407,105 shares of the company’s stock worth $331,000 after buying an additional 66,172 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of MultiPlan by 68.7% in the second quarter. Hsbc Holdings PLC now owns 218,459 shares of the company’s stock valued at $87,000 after acquiring an additional 88,944 shares during the last quarter. Fore Capital LLC acquired a new stake in shares of MultiPlan in the second quarter valued at about $37,000. Finally, Point72 DIFC Ltd acquired a new position in MultiPlan during the second quarter valued at approximately $43,000. Institutional investors own 87.15% of the company’s stock.

MultiPlan Company Profile

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 that reduce medical costs, through data-driven algorithms and insights that detect claims over-charges and negotiate or recommend reimbursement; and network-based services that provide contracted discounts with healthcare providers, as well as outsourced network development and management services.