MultiPlan Corporation [NYSE: MPLN] price surged by 6.78 percent to reach at $0.44. The company report on April 23, 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.
New York, New York–(Newsfile Corp. – April 22, 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) (NYSE: MPLN.WS) (NYSE: CCXX) (NYSE: CCXX.WS) (NYSE: 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 firstname.lastname@example.org 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.
A sum of 2341583 shares traded at recent session while its average daily volume was at 2.22M shares. MultiPlan Corporation shares reached a high of $7.11 and dropped to a low of $6.4967 until finishing in the latest session at $6.93.
The one-year MPLN stock forecast points to a potential upside of 23.0. The average equity rating for MPLN stock is currently 2.00, trading closer to a bullish pattern in the stock market.
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 $9.00 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 2.00. 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.
B. Riley Securities have made an estimate for MultiPlan Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 07, 2021. While these analysts kept the previous recommendation, Barclays raised their target price to Equal Weight. The new note on the price target was released on March 19, 2021, representing the official price target for MultiPlan Corporation stock.
The Average True Range (ATR) for MultiPlan Corporation is set at 0.33, with the Price to Sales ratio for MPLN stock in the period of the last 12 months amounting to 4.88. The Price to Book ratio for the last quarter was 1.28, with the Price to Cash per share for the same quarter was set at 0.19. Price to Free Cash Flow for MPLN in the course of the last twelve months was 12.13 with Quick ratio for the last quarter at 1.90.
MPLN Stock Performance Analysis:
MultiPlan Corporation [MPLN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.65. With this latest performance, MPLN shares gained by 14.36% in over the last four-week period, additionally sinking by -17.40% over the last 6 months – not to mention a drop of -29.07% in the past year of trading.
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 61.43, with the RSI for the last a single of trading hit 68.65, and the three-weeks RSI is set at 56.08 for MultiPlan Corporation [MPLN]. The present Moving Average for the last 50 days of trading for this stock 6.60, while it was recorded at 6.49 for the last single week of trading, and 8.63 for the last 200 days.
Insight into MultiPlan Corporation Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and MultiPlan Corporation [MPLN] shares currently have an operating margin of -14.06 and a Gross Margin at +23.87. MultiPlan Corporation’s Net Margin is presently recorded at -55.51.
Return on Total Capital for MPLN is now -1.81, given the latest momentum, and Return on Invested Capital for the company is -7.15. Return on Equity for this stock declined to -22.92, with Return on Assets sitting at -6.20. When it comes to the capital structure of this company, MultiPlan Corporation [MPLN] has a Total Debt to Total Equity ratio set at 180.33. Additionally, MPLN Total Debt to Total Capital is recorded at 64.33, with Total Debt to Total Assets ending up at 55.22. Long-Term Debt to Equity for the company is recorded at 180.07, with the Long-Term Debt to Total Capital now at 64.24.
Reflecting on the efficiency of the workforce at the company, MultiPlan Corporation [MPLN] managed to generate an average of -$260,282 per employee. Receivables Turnover for the company is 13.37 with a Total Asset Turnover recorded at a value of 0.11.MultiPlan Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.90 and a Current Ratio set at 1.90.
MultiPlan Corporation [MPLN] Insider Position Details
There are presently around $3,563 million, or 84.40% 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 7.50% of the total institutional ownership; PUBLIC INVESTMENT FUND, holding 51,250,000 shares of the stock with an approximate value of $355.16 million in MPLN stocks shares; and LEONARD GREEN & PARTNERS, L.P., currently with $266.46 million in MPLN stock with ownership of nearly New of the company’s market capitalization.
Positions in MultiPlan Corporation stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 75 institutional holders increased their position in MultiPlan Corporation [NYSE:MPLN] by around 455,797,304 shares. Additionally, 59 investors decreased positions by around 40,226,048 shares, while 3 investors held positions by with 18,163,514 shares. The mentioned changes placed institutional holdings at 514,186,866 shares, according to the latest SEC report filing. MPLN stock had 50 new institutional investments in for a total of 420,724,658 shares, while 44 institutional investors sold positions of 30,371,857 shares during the same period.