MultiPlan (NYSE:MPLN) Hits New 1-Year Low at $3.04

MultiPlan Co. (NYSE:MPLNGet Rating) shares reached a new 52-week low on Wednesday . The company traded as low as $3.04 and last traded at $3.05, with a volume of 19419 shares traded. The stock had previously closed at $3.17.

Analyst Ratings Changes

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

MultiPlan Stock Down 1.7 %

The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 11.92 and a beta of 0.21. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 2.02. The stock’s 50-day moving average price is $4.26 and its 200-day moving average price is $4.62.

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

Insider Activity at MultiPlan

In related news, SVP Michael Kim sold 50,000 shares of the business’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $4.37, for a total transaction of $218,500.00. Following the transaction, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Mark Tabak sold 4,500,000 shares of the business’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $3.80, for a total transaction of $17,100,000.00. Following the transaction, the director now owns 1,099,636 shares in the company, valued at approximately $4,178,616.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael Kim sold 50,000 shares of the business’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $4.37, for a total transaction of $218,500.00. Following the transaction, the senior vice president now owns 362,386 shares in the company, valued at approximately $1,583,626.82. The disclosure for this sale can be found here. 10.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MPLN. Neo Ivy Capital Management acquired a new position in MultiPlan during the second quarter worth $28,000. Power Corp of Canada acquired a new position in MultiPlan during the first quarter worth $33,000. Strs Ohio acquired a new position in MultiPlan during the first quarter worth $34,000. Lazard Asset Management LLC acquired a new position in MultiPlan during the fourth quarter worth $36,000. Finally, Nisa Investment Advisors LLC raised its holdings in MultiPlan by 284.5% during the first quarter. Nisa Investment Advisors LLC now owns 10,420 shares of the company’s stock worth $49,000 after buying an additional 7,710 shares during the last quarter.

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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