Fore Capital LLC Invests $37,000 in MultiPlan Co. (NYSE:MPLN)

Fore Capital LLC acquired a new stake in MultiPlan Co. (NYSE:MPLN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 95,000 shares of the company’s stock, valued at approximately $37,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MPLN. Empowered Funds LLC lifted its stake in shares of MultiPlan by 98.8% in the 1st quarter. Empowered Funds LLC now owns 1,550,620 shares of the company’s stock valued at $1,258,000 after purchasing an additional 770,826 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in MultiPlan by 6.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,522,486 shares of the company’s stock worth $12,272,000 after buying an additional 482,944 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of MultiPlan by 19.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 407,105 shares of the company’s stock valued at $331,000 after acquiring an additional 66,172 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of MultiPlan by 68.8% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 45,653 shares of the company’s stock valued at $37,000 after acquiring an additional 18,603 shares during the period. 87.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Piper Sandler reaffirmed a “neutral” rating and set a $1.00 price objective (down previously from $2.00) on shares of MultiPlan in a research report on Wednesday, August 7th.

Insiders Place Their Bets

In related news, CEO Travis Dalton acquired 500,000 shares of MultiPlan stock in a transaction dated Wednesday, August 7th. The shares were acquired at an average cost of $0.37 per share, for a total transaction of $185,000.00. Following the completion of the purchase, the chief executive officer now owns 5,004,504 shares in the company, valued at $1,851,666.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other MultiPlan news, CFO Douglas Michael Garis acquired 1,150,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was acquired at an average cost of $0.30 per share, with a total value of $345,000.00. Following the transaction, the chief financial officer now owns 4,721,428 shares in the company, valued at approximately $1,416,428.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Travis Dalton bought 500,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were acquired at an average cost of $0.37 per share, for a total transaction of $185,000.00. Following the transaction, the chief executive officer now directly owns 5,004,504 shares in the company, valued at approximately $1,851,666.48. The disclosure for this purchase can be found here. Insiders acquired a total of 1,731,165 shares of company stock worth $555,161 over the last 90 days. Corporate insiders own 8.20% of the company’s stock.

MultiPlan Price Performance

MPLN stock opened at $0.24 on Wednesday. The business’s fifty day moving average price is $0.31 and its 200 day moving average price is $0.55. MultiPlan Co. has a 12-month low of $0.22 and a 12-month high of $1.91. The company has a market capitalization of $154.77 million, a PE ratio of -0.24 and a beta of 0.52. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 7.48.

MultiPlan (NYSE:MPLN) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.01. MultiPlan had a negative net margin of 122.73% and a negative return on equity of 8.90%. The business had revenue of $233.48 million for the quarter, compared to analysts’ expectations of $253.59 million. During the same quarter in the prior year, the company earned ($0.06) earnings per share. On average, sell-side analysts anticipate that MultiPlan Co. will post -0.18 EPS for the current year.

MultiPlan Profile

MultiPlan Corporation, together with its subsidiaries, provides data analytics and technology-enabled cost management, payment, and revenue integrity solutions to the healthcare industry in the United States. The company offers analytics-based services that reduce medical costs, through data-driven algorithms and insights that detect claims over-charges and negotiate or recommend reimbursement; and network-based services that provide contracted discounts with healthcare providers, as well as outsourced network development and management services.