In the last trading session, 1.72 million MultiPlan Corporation (NYSE:MPLN) shares changed hands as the company’s beta touched 1.00. With the company’s per share price at $1.66 changed hands at -$0.04 or -2.35% during last session, the market valuation stood at $1.01B. MPLN’s last price was a discount, traded about -84.94% off its 52-week high of $3.07. The share price had its 52-week low at $0.61, which suggests the last value was 63.25% up since then. When we look at MultiPlan Corporation’s average trading volume, we note the 10-day average is 1.6 million shares, with the 3-month average coming to 1.67 million.
Analysts gave the MultiPlan Corporation (MPLN) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.50. If we narrow down to specifics, the data shows that 0 out of 2 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended MPLN as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. MultiPlan Corporation’s EPS for the current quarter is expected to be -$0.06.
MultiPlan Corporation (NYSE:MPLN) trade information
Instantly MPLN was in red as seen at the end of in last trading. With action -9.78%, the performance over the past five days has been red. The drop to weekly highs of 1.9100 on Monday, 09/18/23 subtracted -2.35% to the stock’s daily price. The company’s shares are showing year-to-date upside of 44.35%, with the 5-day performance at -9.78% in the red. However, in the 30-day time frame, MultiPlan Corporation (NYSE:MPLN) is 2.47% up. Looking at the short shares, we see there were 18.01 million shares sold at short interest cover period of 15.5 days.
The consensus price target for the stock as assigned by Wall Street analysts is $2.63, meaning bulls need an upside of 36.88% from its current market value. According to analyst projections, MPLN’s forecast low is $2.25 with $3.00 as the target high. To hit the forecast high, the stock’s price needs a -80.72% plunge from its current level, while the stock would need to soar -35.54% for it to hit the projected low.
MultiPlan Corporation (MPLN) estimates and forecasts
Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for MultiPlan Corporation will fall -300.00%, while the growth in revenue is estimated to hit 95.10% for the next quarter. Year-over-year growth is forecast to reach -10.30% down from the last financial year.
Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $241.01 million. 1 analysts are of the opinion that MultiPlan Corporation’s revenue for the quarter ending Dec 2023 will be $244.44 million. The company’s revenue for the corresponding quarters a year ago was $284.12 million and $241.09 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -15.20%. The estimates for the next quarter sales put growth at 1.40%.
The 2023 estimates are for MultiPlan Corporation earnings to decrease by -672.30%, but the outlook for the next 5-year period is at 22.80% per year.
MultiPlan Corporation is expected to release its next quarterly earnings report between November 06 and November 10.
MultiPlan Corporation (NYSE:MPLN)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 4.76% of MultiPlan Corporation shares while 85.24% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 89.50%. There are 85.24% institutions holding the MultiPlan Corporation stock share, with H&F Corporate Investors VIII, Ltd. the top institutional holder. As of Jun 29, 2023, the company held 33.18% of the shares, roughly 215.51 million MPLN shares worth $357.75 million.
Public Investment Fund holds the second largest percentage of outstanding shares, with 7.89% or 51.25 million shares worth $85.07 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Price (T.Rowe) Small-Cap Value Fund and Vanguard Total Stock Market Index Fund. With 17.15 million shares estimated at $28.47 million under it, the former controlled 2.64% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.08% of the shares, roughly 13.53 million shares worth around $22.47 million.