MultiPlan (NYSE:MPLN) Shares Gap Up to $0.86

Shares of MultiPlan Co. (NYSE:MPLNGet Free Report) gapped up before the market opened on Friday . The stock had previously closed at $0.86, but opened at $0.88. MultiPlan shares last traded at $0.89, with a volume of 142,072 shares traded.

MultiPlan Stock Performance

The firm has a 50 day simple moving average of $1.03 and a 200-day simple moving average of $1.37. The company has a debt-to-equity ratio of 2.65, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market cap of $583.48 million, a price-to-earnings ratio of -6.04 and a beta of 0.65.

MultiPlan (NYSE:MPLNGet Free Report) last posted its 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 return on equity of 8.31% and a negative net margin of 9.54%.

Institutional Investors Weigh In On MultiPlan

A number of institutional investors have recently modified their holdings of MPLN. JPMorgan Chase & Co. grew its stake in shares of MultiPlan by 5.6% in the first quarter. JPMorgan Chase & Co. now owns 271,778 shares of the company’s stock valued at $1,272,000 after buying an additional 14,408 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in MultiPlan by 47.2% in the first quarter. MetLife Investment Management LLC now owns 202,958 shares of the company’s stock valued at $950,000 after purchasing an additional 65,043 shares during the period. Ergoteles LLC purchased a new position in MultiPlan in the first quarter valued at $1,515,000. Mackenzie Financial Corp boosted its holdings in MultiPlan by 50.2% in the first quarter. Mackenzie Financial Corp now owns 18,372 shares of the company’s stock valued at $86,000 after purchasing an additional 6,140 shares during the period. Finally, Prudential Financial Inc. boosted its holdings in MultiPlan by 122.1% in the first quarter. Prudential Financial Inc. now owns 846,014 shares of the company’s stock valued at $3,959,000 after purchasing an additional 465,054 shares during the period. 78.47% of the stock is owned by institutional investors and hedge funds.

About MultiPlan

(Get Free Report)

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.

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