MultiPlan Co. (NYSE:MPLN) Shares Sold by Jane Street Group LLC

Jane Street Group LLC trimmed its holdings in shares of MultiPlan Co. (NYSE:MPLN - Free Report) by 99.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,473 shares of the company's stock after selling 1,796,605 shares during the quarter. Jane Street Group LLC owned 0.11% of MultiPlan worth $133,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of MPLN. Hsbc Holdings PLC grew its holdings in MultiPlan by 68.7% during the second quarter. Hsbc Holdings PLC now owns 218,459 shares of the company's stock worth $87,000 after acquiring an additional 88,944 shares during the period. Point72 DIFC Ltd acquired a new position in shares of MultiPlan in the second quarter worth $43,000. Cubist Systematic Strategies LLC acquired a new position in MultiPlan during the 2nd quarter worth approximately $72,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of MultiPlan during the 2nd quarter worth about $245,000. Finally, AQR Capital Management LLC boosted its position in shares of MultiPlan by 386.2% in the 2nd quarter. AQR Capital Management LLC now owns 2,742,735 shares of the company's stock valued at $1,065,000 after purchasing an additional 2,178,590 shares during the period. Hedge funds and other institutional investors own 87.15% of the company's stock.

MultiPlan Price Performance

MultiPlan stock traded up $0.26 during midday trading on Tuesday, hitting $14.96. 255,725 shares of the stock were exchanged, compared to its average volume of 214,203. MultiPlan Co. has a 1 year low of $4.80 and a 1 year high of $53.60. 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 stock has a market cap of $241.92 million, a price-to-earnings ratio of -0.16 and a beta of 0.10. The company has a 50 day simple moving average of $9.25.

Wall Street Analyst Weigh In

Separately, Citigroup raised their price objective on MultiPlan from $10.00 to $12.50 and gave the company a "neutral" rating in a research note on Friday.

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.