Barclays PLC lessened its stake in MultiPlan Co. (NYSE:MPLN - Free Report) by 96.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 280,000 shares of the company's stock after selling 6,734,036 shares during the quarter. Barclays PLC owned 1.73% of MultiPlan worth $2,139,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Millennium Management LLC raised its stake in shares of MultiPlan by 3,401.0% during the 2nd quarter. Millennium Management LLC now owns 8,426,081 shares of the company's stock worth $3,273,000 after buying an additional 8,185,402 shares during the last quarter. AQR Capital Management LLC raised its position in MultiPlan by 386.2% during the second quarter. AQR Capital Management LLC now owns 2,742,735 shares of the company's stock worth $1,065,000 after acquiring an additional 2,178,590 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of MultiPlan in the second quarter valued at about $245,000. Hsbc Holdings PLC grew its position in shares of MultiPlan by 68.7% in the second quarter. Hsbc Holdings PLC now owns 218,459 shares of the company's stock valued at $87,000 after purchasing an additional 88,944 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of MultiPlan during the 2nd quarter worth approximately $72,000. Institutional investors and hedge funds own 87.15% of the company's stock.
MultiPlan Stock Performance
MPLN stock traded up $4.96 during trading on Friday, hitting $17.52. The stock had a trading volume of 701,256 shares, compared to its average volume of 79,132. The company has a market capitalization of $283.32 million, a PE ratio of -0.18 and a beta of 0.42. The company has a debt-to-equity ratio of 21.73, a quick ratio of 1.05 and a current ratio of 1.05. The company has a 50 day moving average price of $8.30. MultiPlan Co. has a 1-year low of $4.80 and a 1-year high of $69.20.
Analyst Upgrades and Downgrades
Separately, Citigroup lowered their target price on MultiPlan from $17.20 to $10.00 and set a "neutral" rating on the stock in a report on Monday, September 23rd.
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MultiPlan Profile
(
Free Report)
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.
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