MultiPlan (NYSE:MPLN) Trading Up 6.9% - Should You Buy?

MultiPlan Co. (NYSE:MPLN - Get Free Report)'s share price traded up 6.9% on Monday . The company traded as high as $45.94 and last traded at $45.43. 64,120 shares traded hands during trading, a decline of 45% from the average session volume of 117,409 shares. The stock had previously closed at $42.50.

MultiPlan Trading Down 4.6%

The firm has a fifty day moving average of $34.50 and a 200-day moving average of $24.76. The company has a debt-to-equity ratio of 21.73, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $770.06 million, a price-to-earnings ratio of -0.50 and a beta of 0.13.

Hedge Funds Weigh In On MultiPlan

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ares Management LLC boosted its stake in shares of 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. Public Employees Retirement System of Ohio grew its stake in shares of MultiPlan by 75.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,477 shares of the company's stock valued at $37,000 after acquiring an additional 1,063 shares in the last quarter. Millennium Management LLC lifted its position in shares of MultiPlan by 43.1% during 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 last quarter. CastleKnight Management LP bought a new position in shares of MultiPlan during the fourth quarter worth about $3,314,000. Finally, Bridgeway Capital Management LLC lifted its position in shares of MultiPlan by 73.1% during 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 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.