Stocks of MultiPlan Corporation (MPLN) are poised to climb above their peers

MultiPlan Corporation (NYSE: MPLN) stock fell -0.78% on Wednesday to $1.28 against a previous-day closing price of $1.29. With 1.27 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.91 million shares. During the session, the Health Information Services company that operates in wider Healthcare sector, reached to the highest price of $1.3100 whereas the lowest price it dropped to was $1.2500. The 52-week range on MPLN shows that it touched its highest point at $6.19 and its lowest point at $0.61 during that stretch. It currently has a 1-year price target of $1.42.

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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 up-trending over the past week, with a rise of 13.27%, but this was up by 33.43% over a month. Three-month performance surged to 41.84% while six-month performance fell -12.93%. The stock lost -74.35% in the past year, while it has gained 11.30% so far this year. A look at the trailing 12-month EPS for MPLN yields -0.96 with Next year EPS estimates of -0.17. For the next quarter, that number is -0.05. This implies an EPS growth rate of -672.30% for this year and -13.30% for next year.

Float and Shares Shorts:

At present, 638.72 million MPLN shares are outstanding with a float of 597.87 million shares on hand for trading. On Apr 27, 2023, short shares totaled 18.29 million, which was 2.88% higher than short shares on Mar 30, 2023. In addition to Mr. Dale A. White as the firm’s Pres, CEO & Director, Mr. James M. Head serves as its CFO & Exec. VP.

Institutional Ownership:

Other institutions hold 43.12% of MPLN, in contrast to 22.79% held by mutual funds. Shares owned by individuals account for 14.57%. 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, The Vanguard Group, Inc., holds 32,271,784 shares, controlling over 5.05% of the firm’s shares. T. Rowe Price Investment Manageme is the third largest shareholder in MPLN, holding 25,490,302 shares or 3.99% stake. With a 2.55% stake in MPLN, the T Rowe Price Small Cap Value Fund is the largest stakeholder. A total of 16,266,109 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 1.63% of MPLN stock, is the second-largest Mutual Fund holder. It holds 10,447,112 shares valued at 10.22 million. Vanguard Small Cap Index Fund holds 1.45% of the stake in MPLN, owning 9,271,255 shares worth 9.07 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, MPLN reported revenue of $290.13M and operating income of $97.77M. The EBITDA in the recently reported quarter was $200.11M and diluted EPS was $0.02.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MPLN since 0 analysts follow the stock currently. 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 $2.00 and a low target of $1.00, the average target price over the next 12 months is $1.42. Based on these targets, MPLN could surge 56.25% to reach the target high and fall by -21.88% to reach the target low. Reaching the average price target will result in a growth of 10.94% 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.

Summary of Insider Activity:

Insiders traded MPLN stock several times over the past three months with 11 Buys and 12 Sells. In these transactions, 12,212,755 shares were bought while 370,735 shares were sold. The number of buy transactions has increased to 12 while that of sell transactions has risen to 23 over the past year. The total number of shares bought during that period was 12,247,755 while 5,042,071 shares were sold.

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