MultiPlan Corp (NYSE: MPLN) stock jumped 1.55% on Friday to $1.31 against a previous-day closing price of $1.29. With 1.79 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.97 million shares. During the session, the Health Information Services company that operates in wider Healthcare sector, reached to the highest price of $1.3400 whereas the lowest price it dropped to was $1.2450. The 52-week range on MPLN shows that it touched its highest point at $2.29 and its lowest point at $0.61 during that stretch. It currently has a 1-year price target of $2.38. Beta for the stock currently stands at 0.79.
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 -5.76%, but this was down by -19.63% over a month. Three-month performance dropped to -19.63% while six-month performance rose 29.70%. The stock lost -16.56% in the past year, while it has gained 13.91% so far this year. A look at the trailing 12-month EPS for MPLN yields -1.11 with Next year EPS estimates of -0.19. For the next quarter, that number is -0.05. This implies an EPS growth rate of 83.74% for this year and -29.91% for next year.
Float and Shares Shorts:
At present, 639.17 million MPLN shares are outstanding with a float of 287.93 million shares on hand for trading. On Oct 30, 2023, short shares totaled 15.62 million, which was 2.40% higher than short shares on Sep 28, 2023. In addition to Mr. Dale A. White as the firm’s President, CEO & Director, Mr. James M. Head serves as its CFO & Executive VP.
Institutional Ownership:
Through their ownership of 85.24% of MPLN’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 42.44% of MPLN, in contrast to 20.68% held by mutual funds. Shares owned by individuals account for 15.45%. As the largest shareholder in MPLN with 7.64% 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 36,502,173 shares, controlling over 5.62% of the firm’s shares. T. Rowe Price Investment Manageme is the third largest shareholder in MPLN, holding 26,016,337 shares or 4.01% stake. With a 2.48% stake in MPLN, the T Rowe Price Small Cap Value Fund is the largest stakeholder. A total of 16,083,400 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 1.85% of MPLN stock, is the second-largest Mutual Fund holder. It holds 12,035,952 shares valued at 20.34 million. Vanguard Small Cap Index Fund holds 1.54% of the stake in MPLN, owning 10,014,372 shares worth 16.92 million.
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 $3.00 and a low target of $1.75, the average target price over the next 12 months is $2.38. Based on these targets, MPLN could surge 129.01% to reach the target high and rise by 33.59% to reach the target low. Reaching the average price target will result in a growth of 81.68% from current levels.
Summary of Insider Activity:
Insiders traded MPLN stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 13 while that of sell transactions has risen to 14 over the past year. The total number of shares bought during that period was 12,288,516 while 401,075 shares were sold.
