MultiPlan (NYSE:MPLN) Stock Price Up 6.9% - Time to Buy?

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

MultiPlan Trading Up 2.6%

The business's fifty day moving average is $33.42 and its 200-day moving average is $24.29. The stock has a market capitalization of $801.60 million, a PE ratio of -0.52 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

Large investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio boosted its stake in shares of MultiPlan by 75.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 2,477 shares of the company's stock valued at $37,000 after purchasing an additional 1,063 shares during the period. Northern Trust Corp boosted its stake in shares of MultiPlan by 5.5% in the fourth quarter. Northern Trust Corp now owns 14,335 shares of the company's stock valued at $212,000 after purchasing an additional 747 shares during the period. XTX Topco Ltd purchased a new position in shares of MultiPlan in the fourth quarter valued at $225,000. Jane Street Group LLC boosted its stake in shares of MultiPlan by 14.4% in the fourth quarter. Jane Street Group LLC now owns 19,985 shares of the company's stock valued at $295,000 after purchasing an additional 2,512 shares during the period. Finally, Walleye Capital LLC purchased a new position in shares of MultiPlan in the fourth quarter valued at $359,000. Institutional investors and hedge funds 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.