State Street Corp Sells 1,464,143 Shares of MultiPlan Co. (NYSE:MPLN)

State Street Corp decreased its holdings in shares of MultiPlan Co. (NYSE:MPLN - Free Report) by 98.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,624 shares of the company's stock after selling 1,464,143 shares during the quarter. State Street Corp owned about 0.16% of MultiPlan worth $196,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Fore Capital LLC bought a new position in MultiPlan during the second quarter worth $37,000. Point72 DIFC Ltd acquired a new stake in MultiPlan during the second quarter worth about $43,000. Cubist Systematic Strategies LLC bought a new stake in shares of MultiPlan during the second quarter valued at approximately $72,000. Hsbc Holdings PLC raised its stake in shares of MultiPlan by 68.7% in the 2nd quarter. Hsbc Holdings PLC now owns 218,459 shares of the company's stock valued at $87,000 after buying an additional 88,944 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in MultiPlan in the second quarter worth about $245,000. Institutional investors and hedge funds own 87.15% of the company's stock.

Analysts Set New Price Targets

Separately, Citigroup lowered their price objective on MultiPlan from $17.20 to $10.00 and set a "neutral" rating on the stock in a research note on Monday, September 23rd.

MultiPlan Price Performance

Shares of MPLN traded up $1.26 during trading hours on Friday, hitting $14.21. The stock had a trading volume of 120,006 shares, compared to its average volume of 146,103. MultiPlan Co. has a 52 week low of $4.80 and a 52 week high of $54.00. The stock has a market capitalization of $229.79 million, a PE ratio of -0.15 and a beta of 0.10. The company's fifty day moving average price is $8.71. The company has a debt-to-equity ratio of 21.73, a current ratio of 1.05 and a quick ratio of 1.05.

MultiPlan Company 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.