MultiPlan (NYSE:MPLN) Trading 5.8% Higher

MultiPlan Co. (NYSE:MPLN) shares rose 5.8% during trading on Wednesday . The stock traded as high as $0.82 and last traded at $0.80. Approximately 222,841 shares traded hands during trading, a decline of 85% from the average daily volume of 1,505,982 shares. The stock had previously closed at $0.76.

MultiPlan Stock Down 3.4 %

The firm has a 50 day simple moving average of $1.00 and a two-hundred day simple moving average of $1.34. The stock has a market capitalization of $525.48 million, a P/E ratio of -5.44 and a beta of 0.65. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 2.65.

MultiPlan (NYSE:MPLN) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.06) earnings per share for the quarter. MultiPlan had a negative return on equity of 8.31% and a negative net margin of 9.54%. The business had revenue of $244.14 million for the quarter.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Neo Ivy Capital Management bought a new stake in MultiPlan during the 2nd quarter worth $28,000. Power Corp of Canada bought a new position in MultiPlan in the 1st quarter valued at approximately $33,000. Virtu Financial LLC acquired a new stake in MultiPlan during the 2nd quarter worth approximately $70,000. Sei Investments Co. bought a new stake in MultiPlan during the 3rd quarter worth approximately $26,000. Finally, SG Americas Securities LLC acquired a new position in MultiPlan in the 3rd quarter valued at approximately $27,000. 87.15% of the stock is currently owned by institutional investors and hedge funds.

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.