MultiPlan (NYSE:MPLN) Shares Up 1.8% - What's Next?

Key Points

• MultiPlan's share price increased by 1.8% during mid-day trading, reaching a high of $41.05 before closing at $40.39.
• The company has a market capitalization of $653.15 million and a PE ratio of -0.42, indicating negative earnings.
• Institutional investors own 87.15% of MultiPlan's stock, with Ares Management significantly increasing its stake by 108.5% recently.

MultiPlan Co. (NYSE:MPLN - )'s share price was up 1.8% during mid-day trading on Tuesday . The stock traded as high as $41.05 and last traded at $40.39. Approximately 57,423 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 123,649 shares. The stock had previously closed at $39.68.

MultiPlan Stock Performance

The company has a market cap of $653.15 million, a PE ratio of -0.42 and a beta of 0.13. The stock has a 50 day simple moving average of $39.76 and a two-hundred day simple moving average of $27.56. The company has a debt-to-equity ratio of 21.73, a current ratio of 1.05 and a quick ratio of 1.05.

Institutional Investors Weigh In On MultiPlan

Several large investors have recently modified their holdings of the stock. Ares Management LLC lifted its position in MultiPlan by 108.5% in the first quarter. Ares Management LLC now owns 1,863,105 shares of the company's stock valued at $43,131,000 after purchasing an additional 969,367 shares during the period. Topline Capital Management LLC purchased a new position in shares of MultiPlan during the 4th quarter worth approximately $4,755,000. CastleKnight Management LP acquired a new stake in shares of MultiPlan in the 4th quarter valued at approximately $3,314,000. Prudential Financial Inc. purchased a new stake in shares of MultiPlan in the fourth quarter valued at approximately $2,494,000. Finally, Millennium Management LLC boosted its stake in shares of MultiPlan by 43.1% in the fourth quarter. Millennium Management LLC now owns 152,785 shares of the company's stock valued at $2,258,000 after buying an additional 46,002 shares in the last quarter. Hedge funds and other institutional investors own 87.15% of the company's stock.

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.

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