MultiPlan (NYSE:MPLN) Research Coverage Started at Piper Sandler

Piper Sandler assumed coverage on shares of MultiPlan (NYSE:MPLN) in a research report released on Wednesday, MarketBeat.com reports. The brokerage issued a neutral rating and a $2.00 price target on the stock.

MultiPlan Stock Down 7.8 %

Shares of MPLN opened at $0.39 on Wednesday. The firm has a fifty day moving average price of $0.54 and a 200-day moving average price of $0.90. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 3.85. The firm has a market capitalization of $250.47 million, a P/E ratio of -0.40 and a beta of 0.61. MultiPlan has a 12-month low of $0.33 and a 12-month high of $2.27.

MultiPlan (NYSE:MPLN) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.03) earnings per share (EPS) for the quarter. The company had revenue of $234.51 million during the quarter. MultiPlan had a negative net margin of 65.83% and a negative return on equity of 8.11%.

Insiders Place Their Bets

In other news, Director Anthony Colaluca, Jr. purchased 160,000 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were purchased at an average price of $0.60 per share, for a total transaction of $96,000.00. Following the completion of the purchase, the director now owns 220,000 shares in the company, valued at approximately $132,000. The purchase was disclosed in a document filed with the SEC, which is available at this link. 8.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MultiPlan

Several hedge funds have recently modified their holdings of MPLN. Price T Rowe Associates Inc. MD boosted its position in MultiPlan by 19.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 407,105 shares of the company’s stock valued at $331,000 after purchasing an additional 66,172 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of MultiPlan by 68.8% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 45,653 shares of the company’s stock valued at $37,000 after buying an additional 18,603 shares during the last quarter. Empowered Funds LLC grew its position in shares of MultiPlan by 98.8% in the 1st quarter. Empowered Funds LLC now owns 1,550,620 shares of the company’s stock worth $1,258,000 after buying an additional 770,826 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of MultiPlan by 159.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 20,883 shares of the company’s stock worth $30,000 after acquiring an additional 12,837 shares in the last quarter. Finally, Atalaya Capital Management LP lifted its position in MultiPlan by 16.6% during the fourth quarter. Atalaya Capital Management LP now owns 1,755,664 shares of the company’s stock valued at $2,528,000 after acquiring an additional 250,000 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.