MultiPlan (NYSE:MPLN) Shares Up 5.5% - Should You Buy?

Key Points

• Shares of MultiPlan Co. (NYSE:MPLN) increased by 5.5% on Wednesday, trading at a high of $55.47 during the session.
• An institutional investor, Ares Management LLC, raised its position in MultiPlan by 108.5%, making it their 5th largest holding.
• MultiPlan specializes in data analytics and technology-enabled solutions for the healthcare industry, aiming to reduce costs through data-driven algorithms.

Shares of MultiPlan Co. (NYSE:MPLN - ) shot up 5.5% during trading on Wednesday . The stock traded as high as $55.47 and last traded at $55.26. 82,234 shares changed hands during mid-day trading, a decline of 33% from the average session volume of 123,649 shares. The stock had previously closed at $52.40.

MultiPlan Price Performance

The company has a market cap of $893.61 million, a price-to-earnings ratio of -0.58 and a beta of 0.13. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 21.73. The company's 50 day moving average price is $61.00 and its 200 day moving average price is $42.18.

Institutional Trading of MultiPlan

An institutional investor recently raised its position in MultiPlan stock. Ares Management LLC raised its position in MultiPlan Co. (NYSE:MPLN - Free Report) by 108.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,863,105 shares of the company's stock after acquiring an additional 969,367 shares during the period. MultiPlan makes up 2.6% of Ares Management LLC's investment portfolio, making the stock its 5th largest holding. Ares Management LLC owned 11.52% of MultiPlan worth $43,131,000 at the end of the most recent quarter. 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.

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