MultiPlan Corporation (MPLN) – Don’t Believe the Hype: Check The Facts

100 institutions hold shares in MultiPlan Corporation (MPLN), with institutional investors hold 74.18% of the company’s shares. Institutions hold 68.61% of the Float.

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MultiPlan Corporation (NYSE: MPLN) is -4.38% lower on its value in year-to-date trading and has touched a low of $6.12 and a high of $12.93 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The MPLN stock was last observed hovering at around $7.52 in the last trading session, with the day’s gains setting it 0.12% off its average median price target of $10.50 for the next 12 months. It is also 30.55% off the consensus price target high of $11.00 offered by 2 analysts, but current levels are 23.6% higher than the price target low of $10.00 for the same period.

Currently trading at $7.64, the stock is -2.46% and -5.82% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.09 million and changing 1.60% at the moment leaves the stock -19.05% off its SMA200. MPLN registered a loss of -32.63% in past 6-months. The firm has a 50-day simple moving average (SMA 50) of $7.76 and a 200-day simple moving average (SMA200) of $8.92.

The stock witnessed a 2.00% gain in the last 1 month and extending the period to 3 months gives it a 0.79%, and is 2.96% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.64% over the week and 5.55% over the month.

MultiPlan Corporation (MPLN) has around 2000 employees, a market worth around $4.93B and $928.82M in sales. Fwd P/E is 141.48. Distance from 52-week low is 24.84% and -40.91% from its 52-week high.

MultiPlan Corporation (MPLN) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for MultiPlan Corporation (MPLN) is a “Buy”. 2 analysts offering their recommendations for the stock have an average rating of 1.50, where 0 rate it as a Hold and 0 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

MultiPlan Corporation is expected to release its quarterly report on 06/02/2021 and quarterly earnings per share for the current quarter are estimated at -$0.09 with sales reaching $242.63M over the same period..

MultiPlan Corporation (MPLN) Insider Activity

A total of 31 insider transactions have happened at MultiPlan Corporation (MPLN) in the last six months, with sales accounting for 0 and purchases happening 31 times. The most recent transaction is an insider purchase by H&F Corporate Investors VIII, , the company’s 10% Owner. SEC filings show that H&F Corporate Investors VIII, bought 1,597,324 shares of the company’s common stock on Dec 07 at a price of $8.34 per share for a total of $13.33 million. Following the purchase, the insider now owns 1.71 million shares.

MultiPlan Corporation disclosed in a document filed with the SEC on Dec 04 that H&F Corporate Investors VIII, (10% Owner) bought a total of 114,721 shares of the company’s common stock. The trade occurred on Dec 04 and was made at $7.54 per share for $0.86 million. Following the transaction, the insider now directly holds 0.11 million shares of the MPLN stock.

Still, SEC filings show that on Dec 04, AUGUST GLENN R (Director) acquired 100,000 shares at an average price of $7.00 for $0.7 million. The insider now directly holds 3,351,265 shares of MultiPlan Corporation (MPLN).

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