MultiPlan (NYSE:MPLN) Shares Gap Down to $0.81

MultiPlan Co. (NYSE:MPLN - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $0.81, but opened at $0.78. MultiPlan shares last traded at $0.79, with a volume of 74,792 shares trading hands.

MultiPlan Trading Down 0.7 %

The company has a market cap of $519.04 million, a PE ratio of -5.18 and a beta of 0.60. The stock's 50 day moving average is $1.00 and its 200-day moving average is $1.32. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.65.

MultiPlan (NYSE:MPLN - Get Free Report) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.06) earnings per share (EPS) for the quarter. The business had revenue of $244.14 million for the quarter. MultiPlan had a negative net margin of 9.54% and a negative return on equity of 8.31%.

Institutional Investors Weigh In On MultiPlan

Several hedge funds and other institutional investors have recently made changes to their positions in MPLN. Sei Investments Co. purchased a new stake in shares of MultiPlan in the third quarter valued at $26,000. SG Americas Securities LLC purchased a new stake in shares of MultiPlan in the third quarter valued at $27,000. Neo Ivy Capital Management purchased a new stake in shares of MultiPlan in the second quarter valued at $28,000. Ethic Inc. bought a new position in shares of MultiPlan in the first quarter worth about $28,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of MultiPlan by 159.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 20,883 shares of the company's stock worth $30,000 after purchasing an additional 12,837 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.