MultiPlan Corporation (NYSE:MPLN) saw an upside of 13.04% to $2.08 after adding $0.24 on Tuesday. The 5-day average trading volume is 1,211,333 shares of the company’s common stock. It has gained $2.1050 in the past week and touched a new high 2 times within the past 5 days. An average of 1,780,728 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,883,169.
MPLN’s 1-month performance is 2.46% or $0.1400 on its low of $1.7700 reached on 08/07/23. The company’s shares have touched a 52-week low of $0.61 and high of $4.56, with the stock’s rally to the 52-week high happening on 06/28/23. YTD, MPLN has achieved 80.87% or $0.9500 and has reached a new high 18 times. However, the current price is down -54.39% from the 52-week high price.
Insider Transactions
MPLN stock investors last saw insider trading activity on Nov 21.Tabak Mark (Director) most recently sold 4,500,000 shares at $3.80 per share on Aug 22. This transaction cost the insider $17,100,000. SVP, Chief Information Officer, Kim Michael, sold 50,000 shares at a price of $4.37 on Aug 11.
Valuation Metrics
MPLN stock has a beta of 0.99. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 1.55 while the price-to-book (PB) in the most recent quarter is 0.74, with the price to cash flow ratio at 5.31.
MultiPlan Corporation’s quick ratio for the period ended June 29 was 2.40, with the current ratio over the same period at 2.40. As well, the company’s long term debt to equity for the quarter ending June 29 was 2.57, while the total debt to equity was 2.58. In terms of profitability, the gross margin trailing 12 months is 77.10%. The trailing 12-month EBITDA margin is 69.45% while for the period ending June 29, MultiPlan Corporation’s operating margin was -34.00%. The firm’s gross profit as reported stood at $875.62 million against revenue of $1.08 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 137.15% to -$36.37 million, while revenue of $0.21 million was 100.58% off the previous quarter. Analysts expected MPLN to announce -$0.05 per share in earnings in its latest quarter, but it posted -$0.06, representing a -20.00% surprise. EBITDA for the quarter stood at more than $140.7 million. MPLN stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 5.37 billion, with total debt at $4.64 billion. Shareholders hold equity totaling $649.48 million.
Let’s look briefly at MultiPlan Corporation (MPLN) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 07 August was 58.72% to suggest the stock is trending Neutral, with historical volatility in this time period at 102.92%.
The stock’s 5-day moving average is $1.9260, reflecting a -1.87% or -$0.0400 change from its current price. MPLN is currently trading +5.53% above its 20-day SMA, +92.66% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +60.31% and SMA200 by-17.65%.
Stochastic %K and %D was 35.90% and 27.05% and the average true range (ATR) pointed at 0.1462. The RSI (14) points at 57.32%, while the 14-day stochastic is at 84.62% with the period’s ATR at 0.1383. The stock’s 9-day MACD Oscillator is pointing at -0.0844 and -0.0757 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for MultiPlan Corporation (NYSE: MPLN), Citigroup downgraded it to a Neutral rating. They previously had a Buy rating on the stock. Analysts offering their rating for MPLN stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate MPLN as a “sell,”, while 1 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 1 have offered a “buy” rating.
What is MPLN’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $2.25 and a high of $3.00, with their median price target at $2.63. Looking at these predictions, the average price target given by analysts is for MultiPlan Corporation (MPLN) stock is $2.63.
