MultiPlan (NYSE:MPLN) Trading Down 6.2% – Here’s Why

MultiPlan Co. (NYSE:MPLN)’s stock price fell 6.2% on Wednesday . The company traded as low as $67.07 and last traded at $67.70. 90,211 shares were traded during trading, a decline of 27% from the average session volume of 123,649 shares. The stock had previously closed at $72.19.

MultiPlan Stock Performance

The firm has a market capitalization of $1.09 billion, a P/E ratio of -0.71 and a beta of 0.13. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 21.73. The business’s 50 day simple moving average is $46.72 and its two-hundred day simple moving average is $31.73.

Institutional Trading of MultiPlan

A number of institutional investors and hedge funds have recently bought and sold shares of MPLN. Public Employees Retirement System of Ohio increased its stake in MultiPlan by 75.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,477 shares of the company’s stock valued at $37,000 after purchasing an additional 1,063 shares in the last quarter. Northern Trust Corp grew its stake in shares of MultiPlan by 5.5% in the fourth quarter. Northern Trust Corp now owns 14,335 shares of the company’s stock worth $212,000 after acquiring an additional 747 shares during the period. XTX Topco Ltd bought a new stake in shares of MultiPlan in the fourth quarter worth approximately $225,000. Jane Street Group LLC grew its stake in shares of MultiPlan by 14.4% in the fourth quarter. Jane Street Group LLC now owns 19,985 shares of the company’s stock worth $295,000 after acquiring an additional 2,512 shares during the period. Finally, Walleye Capital LLC bought a new stake in shares of MultiPlan in the fourth quarter worth approximately $359,000. 87.15% of the stock is currently owned by institutional investors.

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.