MultiPlan (NYSE:MPLN) Trading Down 6.2% - Should You Sell?

Key Points

• MultiPlan's stock experienced a decline of 6.2%, closing at $67.70, with a decrease in trading volume by 27% compared to its average.
• The company has a market capitalization of $1.09 billion and notable financial ratios, including a P/E ratio of -0.71 and a high debt-to-equity ratio of 21.73.
• Institutional investors hold 87.15% of MultiPlan's shares, with several firms, including Public Employees Retirement System of Ohio, increasing their stakes significantly during the last quarter.

MultiPlan Co. (NYSE:MPLN - Get Free Report)'s stock price was down 6.2% during trading on Wednesday . The stock traded as low as $67.07 and last traded at $67.70. Approximately 90,211 shares traded hands during mid-day trading, a decline of 27% from the average daily volume of 123,649 shares. The stock had previously closed at $72.19.

MultiPlan Stock Up 5.1%

The firm's 50 day simple moving average is $47.87 and its 200 day simple moving average is $32.39. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 21.73. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -0.76 and a beta of 0.13.

Institutional Trading of MultiPlan

A number of large investors have recently added to or reduced their stakes in the business. Millennium Management LLC boosted its stake in MultiPlan by 43.1% in the 4th 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. Jane Street Group LLC grew its stake in MultiPlan by 14.4% in the 4th quarter. Jane Street Group LLC now owns 19,985 shares of the company's stock valued at $295,000 after buying an additional 2,512 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of MultiPlan by 75.2% during the 4th 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. Bridgeway Capital Management LLC increased its holdings in shares of MultiPlan by 73.1% during the 4th 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. Finally, Ares Management LLC boosted its position in shares of MultiPlan by 19.2% during the 4th quarter. Ares Management LLC now owns 893,738 shares of the company's stock valued at $13,209,000 after acquiring an additional 144,000 shares in the last quarter. 87.15% of the stock is currently owned by institutional investors.

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.