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MultiPlan Corp (NYSE: MPLN)’s Stock Performance and Outlook

In the last trading session, 1.63 million MultiPlan Corp (NYSE:MPLN) shares changed hands as the company’s beta touched 0.80. With the company’s per share price at $1.14 changed hands at $0.03 or 2.70% during last session, the market valuation stood at $740.42M. MPLN’s last price was a discount, traded about -100.88% off its 52-week high of $2.29. The share price had its 52-week low at $0.61, which suggests the last value was 46.49% up since then. When we look at MultiPlan Corp’s average trading volume, we note the 10-day average is 0.95 million shares, with the 3-month average coming to 1.54.

MultiPlan Corp (NYSE:MPLN) trade information

Instantly MPLN was in green as seen at the end of in last trading. With action 11.76%, the performance over the past five days has been green. The jump to weekly highs of 1.2350 added 2.70% to the stock’s daily price. The company’s shares are showing year-to-date downside of -20.83%, with the 5-day performance at 11.76% in the green. However, in the 30-day time frame, MultiPlan Corp (NYSE:MPLN) is -9.52% down. Looking at the short shares, we see there were 13.82 million shares sold at short interest cover period of 15.13 days.

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MultiPlan Corp (MPLN) estimates and forecasts

Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for MultiPlan Corp will rise 95.10%. Year-over-year growth is forecast to reach -10.70% down from the last financial year.

Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $247.03 million. The company’s revenue for the corresponding quarters a year ago was $241.09 million. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 2.50%.

The 2024 estimates are for MultiPlan Corp earnings to increase by 83.74%, but the outlook for the next 5-year period is at 22.80% per year.

MPLN Dividends

MultiPlan Corp is expected to release its next quarterly earnings report on February 29.

MultiPlan Corp (NYSE:MPLN)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 4.85% of MultiPlan Corp shares while 86.39% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 90.80%. There are 86.39% institutions holding the MultiPlan Corp 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 $454.74 million.

Public Investment Fund holds the second largest percentage of outstanding shares, with 7.89% or 51.25 million shares worth $108.14 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 $36.19 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 $28.56 million.

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