Charles Schwab Investment Management Inc. lessened its holdings in shares of MultiPlan Co. (NYSE:MPLN - Free Report) by 98.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,514 shares of the company's stock after selling 6,227,165 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.76% of MultiPlan worth $936,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in MPLN. Millennium Management LLC boosted its position in MultiPlan by 3,401.0% during the second quarter. Millennium Management LLC now owns 8,426,081 shares of the company's stock valued at $3,273,000 after purchasing an additional 8,185,402 shares during the last quarter. AQR Capital Management LLC increased its holdings in MultiPlan by 386.2% in the second quarter. AQR Capital Management LLC now owns 2,742,735 shares of the company's stock worth $1,065,000 after buying an additional 2,178,590 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in MultiPlan during the second quarter valued at approximately $245,000. Cubist Systematic Strategies LLC acquired a new stake in MultiPlan in the second quarter valued at approximately $72,000. Finally, Point72 DIFC Ltd bought a new stake in MultiPlan in the second quarter worth approximately $43,000. Institutional investors and hedge funds own 87.15% of the company's stock.
MultiPlan Stock Performance
Shares of MPLN traded down $0.26 during trading hours on Wednesday, hitting $6.81. 191,861 shares of the company were exchanged, compared to its average volume of 65,845. 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 market capitalization of $110.12 million, a P/E ratio of -0.07 and a beta of 0.42. The company's 50 day simple moving average is $8.36. MultiPlan Co. has a 52 week low of $4.80 and a 52 week high of $69.20.
Analyst Ratings Changes
Separately, Citigroup cut their price target on shares of MultiPlan from $17.20 to $10.00 and set a "neutral" rating on the stock in a report on Monday, September 23rd.
Read Our Latest Analysis on MPLN
About MultiPlan
(
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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