MultiPlan Corporation [NYSE: MPLN] slipped around -0.54 points on Thursday, while shares priced at $4.47 at the close of the session, down -10.78%. The company report on August 4, 2022 that MultiPlan Reports Second Quarter 2022 Results.
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Q2 2022 Revenues of $290.1 million, Net Income of $13.5 million, and Adjusted EBITDA of $209.6 million.
Growth in revenues of 5.0% over Q2 2021, driven by an increase in identified potential medical cost savings to approximately $5.5 billion in Q2 2022.
MultiPlan Corporation stock is now 0.90% up from its year-to-date (YTD) trading value. MPLN Stock saw the intraday high of $5.00 and lowest of $4.46 per share. The company’s 52-week high price is 7.93, which means current price is +37.54% above from all time high which was touched on 06/27/22.
Compared to the average trading volume of 2.05M shares, MPLN reached a trading volume of 3276241 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about 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 $7.00 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.
Goldman have made an estimate for MultiPlan Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 12, 2022. While these analysts kept the previous recommendation, Citigroup raised their target price to Buy. The new note on the price target was released on October 04, 2021, representing the official price target for MultiPlan Corporation stock. Previously, the target price had yet another raise to $10, while B. Riley Securities analysts kept a Buy rating on MPLN stock.
The Average True Range (ATR) for MultiPlan Corporation is set at 0.27, with the Price to Sales ratio for MPLN stock in the period of the last 12 months amounting to 2.56. The Price to Book ratio for the last quarter was 1.19, with the Price to Cash per share for the same quarter was set at 0.53. Price to Free Cash Flow for MPLN in the course of the last twelve months was 8.79 with Quick ratio for the last quarter at 2.30.
How has MPLN stock performed recently?
MultiPlan Corporation [MPLN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.53. With this latest performance, MPLN shares dropped by -22.13% in over the last four-week period, additionally plugging by 10.92% over the last 6 months – not to mention a drop of -42.10% 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 32.99, with the RSI for the last a single of trading hit 26.38, and the three-weeks RSI is set at 38.09 for MultiPlan Corporation [MPLN]. The present Moving Average for the last 50 days of trading for this stock 5.30, while it was recorded at 4.95 for the last single week of trading, and 4.56 for the last 200 days.
MultiPlan Corporation [MPLN]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and MultiPlan Corporation [MPLN] shares currently have an operating margin of +36.26 and a Gross Margin at +48.07. MultiPlan Corporation’s Net Margin is presently recorded at +9.13.
Return on Equity for this stock inclined to 4.16, with Return on Assets sitting at 1.23.
MultiPlan Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.30 and a Current Ratio set at 2.30.
Insider trade positions for MultiPlan Corporation [MPLN]
There are presently around $2,441 million, or 95.60% 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 0% of the company’s market cap and around 2.50% of the total institutional ownership; PUBLIC INVESTMENT FUND, holding 51,250,000 shares of the stock with an approximate value of $229.09 million in MPLN stocks shares; and LEONARD GREEN & PARTNERS, L.P., currently with $171.87 million in MPLN stock with ownership of nearly 0% of the company’s market capitalization.
Positions in MultiPlan Corporation stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 51 institutional holders increased their position in MultiPlan Corporation [NYSE:MPLN] by around 17,917,235 shares. Additionally, 85 investors decreased positions by around 34,951,171 shares, while 21 investors held positions by with 493,316,915 shares. The mentioned changes placed institutional holdings at 546,185,321 shares, according to the latest SEC report filing. MPLN stock had 22 new institutional investments in for a total of 10,654,337 shares, while 30 institutional investors sold positions of 18,568,445 shares during the same period.