MultiPlan Corporation (NYSE: MPLN) stock jumped 6.31% on Friday to $1.18 against a previous-day closing price of $1.11. With 1.55 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.5 million shares. During the session, the Health Information Services company that operates in wider Healthcare sector, reached to the highest price of $1.1900 whereas the lowest price it dropped to was $1.1000. The 52-week range on MPLN shows that it touched its highest point at $6.19 and its lowest point at $0.98 during that stretch. It currently has a 1-year price target of $2.33.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MPLN was down-trending over the past week, with a drop of -1.67%, but this was down by -23.38% over a month. Three-month performance dropped to -53.73% while six-month performance fell -77.35%. The stock lost -70.35% in the past year, while it has gained 2.61% so far this year. A look at the trailing 12-month EPS for MPLN yields 0.16 with Next year EPS estimates of 0.00. For the next quarter, that number is -0.05. This implies an EPS growth rate of 114.20% for this year and -98.67% for next year.
Float and Shares Shorts:
At present, 639.07 million MPLN shares are outstanding with a float of 600.12 million shares on hand for trading. On Oct 13, 2022, short shares totaled 24.45 million, which was 3.83% higher than short shares on Sep 14, 2022. In addition to Mr. Dale A. White as the firm’s Pres, CEO & Director, Mr. James M. Head serves as its CFO & Exec. VP.
Through their ownership of 96.40% of MPLN’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 42.34% of MPLN, in contrast to 25.58% held by mutual funds. Shares owned by individuals account for 14.94%. As the largest shareholder in MPLN with 7.76% of the stake, GIC Pte Ltd. holds 49,612,794 shares worth 49,612,794. A second-largest stockholder of MPLN, T. Rowe Price Investment Manageme, holds 37,079,033 shares, controlling over 5.80% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in MPLN, holding 31,753,099 shares or 4.97% stake. With a 2.25% stake in MPLN, the T Rowe Price Small Cap Value Fund is the largest stakeholder. A total of 14,353,709 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 1.64% of MPLN stock, is the second-largest Mutual Fund holder. It holds 10,447,112 shares valued at 12.01 million. Vanguard Small Cap Index Fund holds 1.42% of the stake in MPLN, owning 9,057,560 shares worth 10.42 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MPLN since 3 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With MPLN analysts setting a high price target of $4.00 and a low target of $1.00, the average target price over the next 12 months is $2.33. Based on these targets, MPLN could surge 238.98% to reach the target high and fall by -15.25% to reach the target low. Reaching the average price target will result in a growth of 97.46% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. MPLN will report FY 2022 earnings on 02/15/2024. Analysts have provided yearly estimates in a range of $0.09 being high and $0.04 being low. For MPLN, this leads to a yearly average estimate of $0.08. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. MultiPlan Corporation surprised analysts by $0.00 when it reported $0.03 EPS against a consensus estimate of $0.03. The surprise factor in the prior quarter was -$0.02. Based on analyst estimates, the high estimate for the next quarter is -$0.03 and the low estimate is -$0.08. The average estimate for the next quarter is thus -$0.05.
Summary of Insider Activity:
Insiders traded MPLN stock several times over the past three months with 1 Buys and 2 Sells. In these transactions, 35,000 shares were bought while 30,332 shares were sold. The number of buy transactions has increased to 11 while that of sell transactions has risen to 19 over the past year. The total number of shares bought during that period was 1,699,308 while 4,996,571 shares were sold.