MultiPlan Co. (NYSE:MPLN) Short Interest Down 13.7% in December

MultiPlan Co. (NYSE:MPLN - Get Free Report) saw a significant drop in short interest in December. As of December 15th, there was short interest totalling 302,600 shares, a drop of 13.7% from the November 30th total of 350,700 shares. Approximately 4.6% of the shares of the company are short sold. Based on an average trading volume of 112,900 shares, the days-to-cover ratio is currently 2.7 days.

MultiPlan Stock Performance

Shares of MultiPlan stock traded down $2.06 on Monday, hitting $15.46. The company's stock had a trading volume of 258,797 shares, compared to its average volume of 79,852. The firm has a market cap of $250.00 million, a P/E ratio of -0.16 and a beta of 0.42. MultiPlan has a 1 year low of $4.80 and a 1 year high of $58.40. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 21.73. The firm's fifty day moving average is $8.30.

Institutional Trading of MultiPlan

A number of institutional investors and hedge funds have recently made changes to their positions in MPLN. Millennium Management LLC increased its stake in shares of MultiPlan by 3,401.0% during the second quarter. Millennium Management LLC now owns 8,426,081 shares of the company's stock worth $3,273,000 after purchasing an additional 8,185,402 shares in the last quarter. AQR Capital Management LLC increased its stake in MultiPlan by 386.2% during the 2nd 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of MultiPlan during the second quarter valued at approximately $245,000. Hsbc Holdings PLC lifted 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 acquiring an additional 88,944 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of MultiPlan in the second quarter worth approximately $72,000. 87.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Citigroup decreased their target price on shares of MultiPlan from $17.20 to $10.00 and set a "neutral" rating for the company in a research note on Monday, September 23rd.

About MultiPlan

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.