Shares of MultiPlan Co. (NYSE:MPLN – Get Free Report) fell 3.8% during trading on Wednesday . The company traded as low as $1.78 and last traded at $1.78. 76,997 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 1,646,480 shares. The stock had previously closed at $1.85.
Analyst Upgrades and Downgrades
Separately, Barclays boosted their price objective on shares of MultiPlan from $1.00 to $2.00 in a report on Friday, June 30th.
MultiPlan Stock Down 8.6 %
MultiPlan (NYSE:MPLN – Get Free Report) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). MultiPlan had a negative net margin of 68.99% and a negative return on equity of 9.26%. The business had revenue of $237.99 million for the quarter.
Institutional Investors Weigh In On MultiPlan
Institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its position in MultiPlan by 3.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 37,901,503 shares of the company’s stock worth $208,079,000 after purchasing an additional 1,219,754 shares during the last quarter. BlackRock Inc. grew its position in MultiPlan by 2.2% in the 2nd quarter. BlackRock Inc. now owns 24,037,178 shares of the company’s stock worth $50,718,000 after purchasing an additional 522,178 shares during the last quarter. Beach Point Capital Management LP grew its position in MultiPlan by 81.3% in the 1st quarter. Beach Point Capital Management LP now owns 13,379,011 shares of the company’s stock worth $14,182,000 after purchasing an additional 6,000,618 shares during the last quarter. Ares Management LLC grew its position in MultiPlan by 61.8% in the 4th quarter. Ares Management LLC now owns 12,642,418 shares of the company’s stock worth $14,539,000 after purchasing an additional 4,827,838 shares during the last quarter. Finally, State Street Corp grew its position in MultiPlan by 2.2% in the 1st quarter. State Street Corp now owns 7,465,496 shares of the company’s stock worth $7,913,000 after purchasing an additional 160,390 shares during the last quarter. Institutional investors own 78.47% 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.
- Five stocks we like better than MultiPlan
- How and Why to Invest in Oil Stocks
- 2 Wrecked Stocks Keeping Cars on the Road Ready for Repair
- Compound Interest and Why It Matters When Investing
- WeWork Stock Soars: Meme Stock Madness or Mirage?
- Conference Calls and Individual Investors
- Shutterstock is the Value Stock they don’t want you to know about
Receive News & Ratings for MultiPlan Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MultiPlan and related companies with MarketBeat.com's FREE daily email newsletter.