The stock of MultiPlan Corporation (NYSE:MPLN) decreased by -$0.1 on Tuesday to finish at $1.77, down -5.35 percent. The last five days have seen an average of 1,564,700 shares of common stock traded. 18 times new highs were reached in the current year, with a gain of $0.6200. The average number of shares traded over the last 20 days was 1,957,570, while the average volume over the last 50 days totaled 1,952,116.
MPLN stock dropped -15.31% since last month. On 08/15/23, the company’s shares reached a one-month low of $1.7600. The stock touched a high of $4.24 on 06/28/23, after rallying from a low of $0.61 in 52 weeks. The price of MPLN stock has risen by 53.91% or $0.6200 this year, reaching a new high 18 times. Still, the stock price is down -58.25% from the 52-week high.
Insider Transactions
MPLN stock investors should be aware that MultiPlan Corporation (MPLN) stock had its last reported insider trading activity 268 days ago on Nov 21. On Nov 21, Director Colaluca Anthony Jr acquired 35,000 shares at $1.47 each. This transaction resulted in the insider spending $51,443. On Aug 22, Tabak Mark sold 4,500,000 shares at a price of US$3.80. After the transaction, the insider now owns 1,099,636 shares.
Valuation Metrics
Beta for the stock is 0.99. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.21, the price-to-book (PB) ratio of 0.63, and the price-to-cash flow ratio of 4.13.
Financial Health
For the three months ended June 29, MultiPlan Corporation’s quick ratio was 2.40, while its current ratio was 2.40, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 2.57, and the total debt to equity ratio is 2.58. As far as profitability goes, gross margin for the trailing twelve months is 77.10% percent. MultiPlan Corporation’s EBITDA margin for the year ended June 29 was 69.45%, whereas its operating margin stood at -34.00% for the same period. Based on annual data, it had gross profit of $875.62 million and revenue of $1.08 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. MPLN’s return on assets (ROA) during the last 12 months has been -7.40%. There was a -5.20% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -27.20%.
Earnings Surprise
According to MultiPlan Corporation’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $237.99 million, while revenues fell by -21.91% to $236.59 million. It was predicted that MultiPlan Corporation’s quarterly earnings would be -$0.06, but it ended up being -$0.05. EBITDA was $140.7 million for the quarter. At the end of MultiPlan Corporation’s most recent quarter ended June 29, its liabilities totaled 5.37 billion, while its total debt was $4.64 billion. Equity owned by shareholders amounts to $649.48 million.
Technical Picture
Here’s a quick look at MultiPlan Corporation’s (MPLN) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 35.02%, suggesting the stock is Neutral, with a 99.17% historical volatility rate.
The stochastic %K and %D were 30.75% and 52.13% respectively, while the average true range (ATR) was 0.1431. Based on the 14-day stochastic reading of 2.50%, the RSI (14) reading is 40.37%. On the 9-day MACD Oscillator, the stock is at -0.0556, and the 14-day reading is at -0.0955.
Analyst Ratings
MultiPlan Corporation (NYSE: MPLN) was downgraded by Citigroup to a a Neutral rating in its latest research report. The stock was previously rated as a a Buy. Analysts have assigned MultiPlan Corporation (MPLN) an Overweight rating. MPLN is a stock that is recommended for selling by 0 brokerage firms, while 1 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 1 other recommend it as a buy.
What is MPLN’s price target for the next 12 months?
The current consensus forecast for the stock is between $2.25 and $3.00, with a median target price of $2.63. In analyzing these forecasts, the average price target given by analysts for MultiPlan Corporation (MPLN) is $2.63.
