MultiPlan (NYSE:MPLN) Shares Down 4.4%

MultiPlan Co. (NYSE:MPLN) dropped 4.4% on Tuesday . The stock traded as low as $0.81 and last traded at $0.81. Approximately 147,080 shares traded hands during trading, a decline of 90% from the average daily volume of 1,499,187 shares. The stock had previously closed at $0.85.

MultiPlan Stock Down 3.3 %

The stock has a 50 day simple moving average of $0.96 and a 200-day simple moving average of $1.28. The firm has a market cap of $516.46 million, a PE ratio of -5.34 and a beta of 0.60. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.16 and a quick ratio of 1.16.

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 company had revenue of $244.14 million for the quarter. MultiPlan had a negative net margin of 9.54% and a negative return on equity of 8.31%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MPLN. JPMorgan Chase & Co. grew its holdings in shares of MultiPlan by 5.6% in the first quarter. JPMorgan Chase & Co. now owns 271,778 shares of the company’s stock worth $1,272,000 after acquiring an additional 14,408 shares during the period. MetLife Investment Management LLC grew its holdings in shares of MultiPlan by 47.2% in the first quarter. MetLife Investment Management LLC now owns 202,958 shares of the company’s stock worth $950,000 after acquiring an additional 65,043 shares during the period. Ergoteles LLC bought a new stake in shares of MultiPlan in the first quarter worth $1,515,000. Mackenzie Financial Corp grew its holdings in shares of MultiPlan by 50.2% in the first quarter. Mackenzie Financial Corp now owns 18,372 shares of the company’s stock worth $86,000 after acquiring an additional 6,140 shares during the period. Finally, Prudential Financial Inc. grew its holdings in shares of MultiPlan by 122.1% in the first quarter. Prudential Financial Inc. now owns 846,014 shares of the company’s stock worth $3,959,000 after acquiring an additional 465,054 shares during the period. Hedge funds and other 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.