MultiPlan (NYSE:MPLN) Stock Price Up 6.7%

MultiPlan Co. (NYSE:MPLN) rose 6.7% during mid-day trading on Thursday . The company traded as high as $0.85 and last traded at $0.85. Approximately 136,238 shares traded hands during trading, a decline of 91% from the average daily volume of 1,511,401 shares. The stock had previously closed at $0.80.

MultiPlan Price Performance

The company has a market capitalization of $552.23 million, a PE ratio of -5.89 and a beta of 0.60. 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 stock has a fifty day simple moving average of $0.98 and a 200-day simple moving average of $1.31.

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

Institutional Trading of MultiPlan

Several institutional investors and hedge funds have recently made changes to their positions in the company. Teacher Retirement System of Texas lifted its holdings in shares of MultiPlan by 18.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 31,373 shares of the company’s stock valued at $172,000 after purchasing an additional 4,972 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of MultiPlan in the 2nd quarter valued at about $28,000. Mackenzie Financial Corp lifted its holdings in shares of MultiPlan by 50.2% in the 1st quarter. Mackenzie Financial Corp now owns 18,372 shares of the company’s stock valued at $86,000 after purchasing an additional 6,140 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of MultiPlan by 60.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 18,656 shares of the company’s stock valued at $53,000 after purchasing an additional 6,998 shares during the last quarter. Finally, Power Corp of Canada purchased a new stake in shares of MultiPlan in the 1st quarter valued at about $33,000. 87.15% of the stock is owned by hedge funds and other institutional investors.

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.