MultiPlan (NYSE:MPLN) Stock Price 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 - Get Free Report) was up 1.8% 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 Price Performance

The company's fifty day moving average is $40.37 and its two-hundred day moving average is $27.97. The firm has a market capitalization of $622.26 million, a price-to-earnings ratio of -0.40 and a beta of 0.13. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 21.73.

Institutional Investors Weigh In On MultiPlan

Several hedge funds have recently bought and sold shares of the company. Ares Management LLC raised its holdings in MultiPlan by 108.5% in the first quarter. Ares Management LLC now owns 1,863,105 shares of the company's stock worth $43,131,000 after purchasing an additional 969,367 shares during the period. Public Employees Retirement System of Ohio raised its holdings in MultiPlan by 75.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 2,477 shares of the company's stock worth $37,000 after purchasing an additional 1,063 shares during the period. Millennium Management LLC raised its holdings in MultiPlan by 43.1% in the fourth quarter. Millennium Management LLC now owns 152,785 shares of the company's stock worth $2,258,000 after purchasing an additional 46,002 shares during the period. CastleKnight Management LP acquired a new stake in MultiPlan in the fourth quarter worth $3,314,000. Finally, Bridgeway Capital Management LLC raised its holdings in MultiPlan by 73.1% in the fourth quarter. Bridgeway Capital Management LLC now owns 76,193 shares of the company's stock worth $1,126,000 after purchasing an additional 32,187 shares during the period. 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.