MultiPlan (NYSE:MPLN) Trading Up 5.8%

MultiPlan Co. (NYSE:MPLN)’s share price was up 5.8% during mid-day trading on Wednesday . The company traded as high as $0.82 and last traded at $0.80. Approximately 222,841 shares changed hands during trading, a decline of 85% from the average daily volume of 1,505,982 shares. The stock had previously closed at $0.76.

MultiPlan Stock Down 3.4 %

The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 2.65. The company has a market cap of $525.48 million, a P/E ratio of -5.44 and a beta of 0.65. The firm’s 50 day moving average price is $1.00 and its 200-day moving average price is $1.34.

MultiPlan (NYSE:MPLN) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.06) earnings per share (EPS) for the quarter. The business had revenue of $244.14 million during the quarter. MultiPlan had a negative net margin of 9.54% and a negative return on equity of 8.31%.

Hedge Funds Weigh In On MultiPlan

Several institutional investors have recently modified their holdings of MPLN. Price T Rowe Associates Inc. MD boosted its stake in MultiPlan by 3.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 37,901,503 shares of the company’s stock worth $208,079,000 after acquiring an additional 1,219,754 shares during the last quarter. BlackRock Inc. grew its holdings in shares of MultiPlan by 2.2% in the 2nd quarter. BlackRock Inc. now owns 24,037,178 shares of the company’s stock valued at $50,718,000 after buying an additional 522,178 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of MultiPlan by 6.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,522,486 shares of the company’s stock valued at $12,272,000 after buying an additional 482,944 shares in the last quarter. State Street Corp raised its stake in MultiPlan by 2.2% during the 1st quarter. State Street Corp now owns 7,465,496 shares of the company’s stock worth $7,913,000 after buying an additional 160,390 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in MultiPlan by 3.7% during the second quarter. Geode Capital Management LLC now owns 6,039,353 shares of the company’s stock worth $12,743,000 after acquiring an additional 216,274 shares in the last quarter. 87.15% of the stock is currently owned by institutional investors and hedge funds.

About MultiPlan

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.