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MultiPlan Corporation (NYSE:MPLN) Rises 114.20% In 2022; Is It Still Attractive At $1.65?

In last trading session, MultiPlan Corporation (NYSE:MPLN) saw 1.77 million shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $1.65 trading at $0.19 or 13.01% at ring of the bell on the day assigns it a market valuation of $1.06B. That closing price of MPLN’s stock is at a discount of -275.15% from its 52-week high price of $6.19 and is indicating a premium of 14.55% from its 52-week low price of $1.41. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 2.46 million shares which gives us an average trading volume of 2.45 million if we extend that period to 3-months.

For MultiPlan Corporation (MPLN), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 2.20. Splitting up the data highlights that, out of 4 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 2 suggested the stock as a Hold whereas 2 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $0.03 in the current quarter.

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MultiPlan Corporation (NYSE:MPLN) trade information

Upright in the green during last session for gaining 13.01%, in the last five days MPLN remained trading in the green while hitting it’s week-highest on Wednesday, 11/23/22 when the stock touched $1.65 price level, adding 2.08% to its value on the day. MultiPlan Corporation’s shares saw a change of -62.75% in year-to-date performance and have moved 5.10% in past 5-day. MultiPlan Corporation (NYSE:MPLN) showed a performance of -35.80% in past 30-days. Number of shares sold short was 24.45 million shares which calculate 11.41 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $3.01 to the stock, which implies a rise of 45.18% to its current value. Analysts have been projecting $2.05 as a low price target for the stock while placing it at a high target of $4.00. It follows that stock’s current price would drop -142.42% in reaching the projected high whereas dropping to the targeted low would mean a loss of -24.24% for stock’s current value.

MultiPlan Corporation (MPLN) estimates and forecasts

This year revenue growth is estimated to rise 4.40% from the last financial year’s standing.

2 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $284.12 million for the same. And 2 analysts are in estimates of company making revenue of $294.06 million in the next quarter that will end on Dec 2022.

In 2022, company’s earnings growth rate is likely to be around 114.20% while estimates for its earnings growth in next 5 years are of 22.80%.

MPLN Dividends

MultiPlan Corporation is more likely to be releasing its next quarterly report between February 15 and February 20 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

MultiPlan Corporation (NYSE:MPLN)’s Major holders

Insiders are in possession of 6.81% of company’s total shares while institution are holding 96.40 percent of that, with stock having share float percentage of 103.45%. Investors also watch the number of corporate investors in a company very closely, which is 96.40% institutions for MultiPlan Corporation that are currently holding shares of the company. H&F Corporate Investors VIII, Ltd. is the top institutional holder at MPLN for having 215.51 million shares of worth $1.18 billion. And as of Jun 29, 2022, it was holding 33.72% of the company’s outstanding shares.

The second largest institutional holder is Public Investment Fund, which was holding about 51.25 million shares on Jun 29, 2022. The number of shares represents firm’s hold over 8.02% of outstanding shares, having a total worth of $281.36 million.

On the other hand, Price (T.Rowe) Mid Cap Growth Fund and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Jun 29, 2022, the former fund manager was holding 15.02 million shares of worth $82.46 million or 2.35% of the total outstanding shares. The later fund manager was in possession of 10.41 million shares on Jun 29, 2022, making its stake of worth around $57.17 million in the company or a holder of 1.63% of company’s stock.

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