MultiPlan Corporation [MPLN] is -13.64% lower this YTD. Is it still time to buy?

MultiPlan Corporation [NYSE: MPLN] stock went on an upward path that rose over 7.64% on Friday, amounting to a one-week price decrease of less than -2.95%. The company report on March 8, 2021 that SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in MultiPlan Corporation f/k/a Churchill Capital Corp. III of Class Action Lawsuit and Upcoming Deadline – MPLN; MPLN.WS; CCXX; CCXX.WS; CCXX.U.

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New York, New York–(Newsfile Corp. – March 7, 2021) – Pomerantz LLP announces that a class action lawsuit has been filed against MultiPlan Corporation f/k/a Churchill Capital Corp. III (“Churchill III” or the “Company”) (NYSE: MPLN; MPLN.WS; CCXX; CCXX.WS; CCXX.U) and certain of its officers, directors, and sponsors. The class action, filed in the United States District Court for the Southern District of New York, and docketed under 21-cv-01965, is on behalf of a class consisting of: (i) all purchasers of Churchill III securities between July 12, 2020 and November 10, 2020, inclusive (the “Class Period”); and (ii) all holders of Churchill III Class A common stock entitled to vote on Churchill III’s merger with and acquisition of Polaris Parent Corp. and its consolidated subsidiaries (collectively, “MultiPlan”) consummated in October 2020 (the “Merger”).

If you are a shareholder who purchased Churchill III securities during the Class Period and/or a holder of Churchill III Class A common stock entitled to vote on the Merger, you have until April 26, 2021 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at newaction@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

The one-year MultiPlan Corporation stock forecast points to a potential upside of 34.29. The average equity rating for MPLN stock is currently 1.50, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $4.28 billion, with 136.31 million shares outstanding. Compared to the average trading volume of 3.49M shares, MPLN stock reached a trading volume of 5653952 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on MultiPlan Corporation [MPLN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MPLN shares is $10.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MPLN stock is a recommendation set at 1.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

The Average True Range (ATR) for MultiPlan Corporation is set at 0.45, with the Price to Sales ratio for MPLN stock in the period of the last 12 months amounting to 4.61. The Price to Book ratio for the last quarter was 0.89, with the Price to Cash per share for the same quarter was set at 0.01.

MPLN Stock Performance Analysis:

MultiPlan Corporation [MPLN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.95. With this latest performance, MPLN shares dropped by -11.54% in over the last four-week period, additionally sinking by -39.74% over the last 6 months .

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MPLN stock in for the last two-week period is set at 41.15, with the RSI for the last a single of trading hit 41.49, and the three-weeks RSI is set at 42.09 for MultiPlan Corporation [MPLN]. The present Moving Average for the last 50 days of trading for this stock 7.78, while it was recorded at 6.73 for the last single week of trading, and 9.30 for the last 200 days.

Insight into MultiPlan Corporation Fundamentals:

When it comes to the capital structure of this company, MultiPlan Corporation [MPLN] has a Total Debt to Total Equity ratio set at 530.79. Additionally, MPLN Total Debt to Total Capital is recorded at 84.15, with Total Debt to Total Assets ending up at 39.19.

MultiPlan Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.40 and a Current Ratio set at 0.40.

MultiPlan Corporation [MPLN] Insider Position Details

There are presently around $3,545 million, or 68.61% of MPLN stock, in the hands of institutional investors. The top three institutional holders of MPLN stocks are: H&F CORPORATE INVESTORS VIII, LTD. with ownership of 215,514,491, which is approximately New of the company’s market cap and around 2.30% of the total institutional ownership; PUBLIC INVESTMENT FUND, holding 51,250,000 shares of the stock with an approximate value of $353.62 million in MPLN stocks shares; and LEONARD GREEN & PARTNERS, L.P., currently with $265.31 million in MPLN stock with ownership of nearly New of the company’s market capitalization.

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Positions in MultiPlan Corporation stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 76 institutional holders increased their position in MultiPlan Corporation [NYSE:MPLN] by around 455,988,812 shares. Additionally, 59 investors decreased positions by around 40,319,086 shares, while 2 investors held positions by with 17,509,405 shares. The mentioned changes placed institutional holdings at 513,817,303 shares, according to the latest SEC report filing. MPLN stock had 53 new institutional investments in for a total of 421,310,288 shares, while 44 institutional investors sold positions of 30,371,857 shares during the same period.

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