Stock Traders Purchase Large Volume of Put Options on MultiPlan (NYSE:MPLN)


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MultiPlan Co. (NYSE:MPLN) was the recipient of unusually large options trading activity on Wednesday. Stock investors bought 3,470 put options on the company. This is an increase of approximately 1,101% compared to the typical daily volume of 289 put options.

In other MultiPlan news, insider Paul Galant bought 14,500 shares of MultiPlan stock in a transaction dated Tuesday, November 17th. The shares were bought at an average price of $7.01 per share, with a total value of $101,645.00. Following the purchase, the insider now owns 14,500 shares of the company’s stock, valued at $101,645. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Corporate Investors Viii H&F bought 1,597,324 shares of MultiPlan stock in a transaction dated Monday, December 7th. The stock was acquired at an average cost of $8.34 per share, for a total transaction of $13,321,682.16. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 3,464,597 shares of company stock worth $26,235,288.

MPLN has been the topic of several recent research reports. Smith Barney Citigroup initiated coverage on shares of MultiPlan in a research note on Monday, November 16th. They issued a “buy” rating and a $10.00 target price on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell initiated coverage on shares of MultiPlan in a research note on Monday, November 16th. They issued a “buy” rating and a $10.00 target price on the stock.

MultiPlan stock opened at $7.69 on Thursday. The business’s 50 day moving average price is $8.23. MultiPlan has a fifty-two week low of $6.12 and a fifty-two week high of $12.93.

MultiPlan (NYSE:MPLN) last released its quarterly earnings data on Friday, November 13th. The company reported ($0.28) earnings per share for the quarter.

MultiPlan Company Profile

MultiPlan Corporation provides data analytics and technology-enabled cost management solutions to the U.S. healthcare industry. The company offers analytics-based services, which reduce medical costs for consumers and payors through data-driven algorithms that detect claims anomalies; network-based services that reduce medical costs through contracted discounts with healthcare providers and include independent preferred provider organizations in the United States; and payment integrity services, which reduce medical costs by identifying and removing improper and unnecessary charges before claims are paid.

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