T. Rowe Price Associates, Inc. has recently announced that it has increased stake in MultiPlan Corporation (NYSE:MPLN) by 3.33%. After grabbing 37.9 million shares, the institutional investor is now in possession of 1.22 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 5.93% having worth around $108.78 million. Moreover, BlackRock Fund Advisors increased its share by 2.55 million to have a control over 21.07 million shares. And SSgA Funds Management, Inc. raised its holdings to 0.55 million shares by acquiring 7.16 million shares or 1.12% of the stake.
MultiPlan Corporation (MPLN) concluded trading on 11/17/22 at a closing price of $1.57, with 3.23 million shares of worth about $5.07 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -66.74% during that period and on Thursday the price remained unchanged. Currently the company’s common shares owned by public are about 639.07M shares, out of which, 600.14M shares are available for trading.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 33 times over the past 12 months. They bought 1,964,308 shares in 11 of the transactions. In 22 selling transactions, insiders dumped 5,055,061 shares.
T Rowe Price Mid Cap Growth Fund, Vanguard Total Stock Market Index, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in MultiPlan Corporation T Rowe Price Mid Cap Growth Fund is currently holding 14.99 million shares of worth totaling $43.03 million. The company recently came selling 25900.0 shares which brought its stake up to 2.35% of the company’s outstanding shares. Vanguard Small Cap Index Fund, after buying 8.94 million shares, have now control over 1.40% of the stake in the company. It holds 20053.0 shares of worth $25.65 million.
MultiPlan Corporation (NYSE: MPLN) started trading at $1.53, below -$0.04 from concluding price of the previous day. Stock saw a price change of -12.78% in past 5 days and over the past one month there was a price change of -38.43%. Year-to-date (YTD), MPLN shares are showing a performance of -64.56% which decreased to -63.15% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.52 but also hit the highest price of $6.19 during that period. The average intraday trading volume for MultiPlan Corporation shares is 2.43 million. The stock is currently trading -31.14% below its 20-day simple moving average (SMA20), while that difference is down -40.94% for SMA50 and it goes to -61.86% lower than SMA200.
T. Rowe Price Associates, Inc. acquired 37.9 million shares of MultiPlan Corporation having value of about $108.78 million. Data submitted at the U.S SEC by T. Rowe Price Associates, Inc. revealed that the firm now holds 1.22 million shares in the company valued at close to $1915013.78, or have control over 3.33% stake in the company. MultiPlan Corporation (NYSE: MPLN) currently have 639.07M outstanding shares and institutions hold larger chunk of about 96.50% of that. Holding of mutual funds in the company is about 24.04% while other institutional holders and individual stake holders have control over 42.33% and 16.30% of the stake respectively.
The stock has a current market capitalization of $916.82M. PE ratio of stock for trailing 12 months is 6.31, while it has posted earnings per share of $0.25 in the same period. Its PEG reads 0.28 and has Quick Ratio of 2.30 while making debt-to-equity ratio of 2.01. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for MPLN, volatility over the week remained 11.14% while standing at 8.99% over the month.
Analysts are in expectations that MultiPlan Corporation (MPLN) stock would likely to be making an EPS of $0.03 in the current quarter, while forecast for next quarter EPS is $0.04 and it is $0.16 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.03 which is $0.03 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.12 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 114.20% while it is estimated to decrease by -10.62% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Goldman on July 12, 2022 offering a Neutral rating for the stock and assigned a target price of $6.50 to it. Coverage by Citigroup stated MultiPlan Corporation (MPLN) stock as a Buy in their note to investors on October 04, 2021, suggesting a price target of $9 for the stock. On April 07, 2021, B. Riley Securities Initiated their recommendations, while on March 19, 2021, Barclays Initiated their ratings for the stock with a price target of $7.