MultiPlan Corp (NYSE: MPLN) Stock: Can It Surge Further?

In the last trading session, 1.14 million shares of the MultiPlan Corp (NYSE:MPLN) were traded, and its beta was 0.77. Most recently the company’s share price was $0.81, and it changed around $0.01 or 0.45% from the last close, which brings the market valuation of the company to $519.56M. MPLN currently trades at a discount to its 52-week high of $2.29, offering almost -182.72% off that amount. The share price’s 52-week low was $0.61, which indicates that the current value has risen by an impressive 24.69% since then. We note from MultiPlan Corp’s average daily trading volume that its 10-day average is 1.93 million shares, with the 3-month average coming to 1.54 million.

MultiPlan Corp (NYSE:MPLN) trade information

Instantly MPLN has showed a green trend with a performance of 0.45% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently down -44.01% year-to-date, but still down -0.81% over the last five days. On the other hand, MultiPlan Corp (NYSE:MPLN) is -27.36% down in the 30-day period. We can see from the shorts that 14.83 million shares have been sold at a short interest cover period of 8.05 day(s).

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MultiPlan Corp (MPLN) estimates and forecasts

The year-over-year growth rate is expected to be 6.00%, up from the previous year.

Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $244.12 million in revenue for the current quarter. 2 analysts expect MultiPlan Corp to make $252.32 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $236.59 million and $237.99 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 3.20%. Forecasts for the next quarter put sales growth at 6.00%.

MultiPlan Corp earnings are expected to increase by -37.86% in 2024, but the outlook is positive 22.80% per year for the next five years.

MPLN Dividends

MultiPlan Corp’s next quarterly earnings report is expected to be released in May.

MultiPlan Corp (NYSE:MPLN)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 6.13% of MultiPlan Corp shares, and 85.94% of them are in the hands of institutional investors. The stock currently has a share float of 91.55%. MultiPlan Corp stock is held by 159 institutions, with H&F Corporate Investors VIII, Ltd. being the largest institutional investor. By Jun 29, 2023, it held 33.18% of the shares, which is about 215.51 million shares worth $454.74 million.

Public Investment Fund, with 7.89% or 51.25 million shares worth $108.14 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Price (T.Rowe) Small-Cap Value Fund and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 17.15 million shares worth $36.19 million, making up 2.64% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 13.53 million shares worth around $28.56 million, which represents about 2.08% of the total shares outstanding.