Wall Street Analyst Initiated MultiPlan Corporation [MPLN]. What else is Wall St. saying

MultiPlan Corporation [NYSE: MPLN] slipped around 0.0 points on Thursday, while shares priced at $1.57 at the close of the session, down 0.00%. The company report on November 17, 2022 that MultiPlan Corporation Announces Settlement of Delaware Litigation.

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MultiPlan Corporation (NYSE:MPLN) (“MultiPlan” or the “Company”), a leading value-added provider of data analytics and technology-enabled end-to-end cost management, payment and revenue integrity solutions to the U.S. healthcare industry, announced that the Company and certain current and former directors have entered into a settlement agreement to resolve a consolidated class action lawsuit that has been pending since March 2021. The settlement agreement expressly provides that the settlement does not constitute an admission by the defendants or a finding that the claims asserted had any merit, and the defendants continue to strongly deny the allegations of liability in the lawsuit. We expect that, upon approval by the court, the settlement will bring to an end all pending shareholder litigation against the Company and its directors.

As previously disclosed in our SEC filings, a consolidated lawsuit captioned In Re MultiPlan Corp. Stockholders Litigation, C.A. No. 2021-0300-LWW (Del. Ch.) has been proceeding in the Delaware Court of Chancery related to our October 8, 2020 business combination transaction. Defendants in the lawsuit include the former directors of Churchill Capital III Corp. (now named MultiPlan) as well as affiliates of Churchill III’s sponsor.

Compared to the average trading volume of 2.43M shares, MPLN reached a trading volume of 3228400 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 $3.88 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 2.20. 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 0.19, with the Price to Sales ratio for MPLN stock in the period of the last 12 months amounting to 0.78. The Price to Book ratio for the last quarter was 0.41, with the Price to Cash per share for the same quarter was set at 0.75. Price to Free Cash Flow for MPLN in the course of the last twelve months was 3.20 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 -12.78. With this latest performance, MPLN shares dropped by -38.43% in over the last four-week period, additionally sinking by -66.74% over the last 6 months – not to mention a drop of -63.15% 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 25.88, with the RSI for the last a single of trading hit 23.68, and the three-weeks RSI is set at 27.25 for MultiPlan Corporation [MPLN]. The present Moving Average for the last 50 days of trading for this stock 2.6250, while it was recorded at 1.7320 for the last single week of trading, and 4.1045 for the last 200 days.

MultiPlan Corporation [MPLN]: Deeper insight into the fundamentals

MultiPlan Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.30 and a Current Ratio set at 2.30.

Earnings analysis for MultiPlan Corporation [MPLN]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MPLN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for MultiPlan Corporation go to 22.80%.

Insider trade positions for MultiPlan Corporation [MPLN]

There are presently around $839 million, or 96.50% 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 0.20% of the total institutional ownership; PUBLIC INVESTMENT FUND, holding 51,250,000 shares of the stock with an approximate value of $80.46 million in MPLN stocks shares; and LEONARD GREEN & PARTNERS, L.P., currently with $60.37 million in MPLN stock with ownership of nearly 0% of the company’s market capitalization.

60 institutional holders increased their position in MultiPlan Corporation [NYSE:MPLN] by around 54,233,036 shares. Additionally, 68 investors decreased positions by around 52,427,391 shares, while 27 investors held positions by with 427,417,765 shares. The mentioned changes placed institutional holdings at 534,078,192 shares, according to the latest SEC report filing. MPLN stock had 22 new institutional investments in for a total of 38,672,190 shares, while 22 institutional investors sold positions of 2,981,115 shares during the same period.


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