HRT Financial LP raised its position in shares of MultiPlan Co. (NYSE:MPLN – Get Rating) by 71.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 737,124 shares of the company’s stock after acquiring an additional 307,044 shares during the period. HRT Financial LP owned approximately 0.12% of MultiPlan worth $847,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas grew its position in MultiPlan by 18.8% during the second quarter. Teacher Retirement System of Texas now owns 31,373 shares of the company’s stock valued at $172,000 after acquiring an additional 4,972 shares during the period. Neo Ivy Capital Management purchased a new stake in MultiPlan during the second quarter valued at about $28,000. Mackenzie Financial Corp grew its position in MultiPlan by 50.2% during the first quarter. Mackenzie Financial Corp now owns 18,372 shares of the company’s stock valued at $86,000 after acquiring an additional 6,140 shares during the period. ProShare Advisors LLC grew its position in MultiPlan by 16.7% during the fourth quarter. ProShare Advisors LLC now owns 48,625 shares of the company’s stock valued at $56,000 after acquiring an additional 6,969 shares during the period. Finally, Public Employees Retirement System of Ohio grew its position in MultiPlan by 60.0% during the third quarter. Public Employees Retirement System of Ohio now owns 18,656 shares of the company’s stock valued at $53,000 after acquiring an additional 6,998 shares during the period. Hedge funds and other institutional investors own 82.97% of the company’s stock.
MultiPlan Price Performance
Shares of NYSE MPLN opened at $1.48 on Friday. MultiPlan Co. has a 1-year low of $0.61 and a 1-year high of $6.19. The business has a 50-day moving average of $1.08 and a 200-day moving average of $1.20. The company has a debt-to-equity ratio of 2.57, a current ratio of 2.38 and a quick ratio of 2.38. The company has a market capitalization of $933.14 million, a price-to-earnings ratio of -1.52 and a beta of 0.50.
Analyst Upgrades and Downgrades
Separately, Citigroup lowered their price target on MultiPlan from $2.00 to $1.25 and set a “neutral” rating for the company in a research report on Wednesday, March 8th.
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, which reduce medical costs through data-driven algorithms that detect claims over-charges and recommend or negotiate reimbursement; network-based services that reduce medical costs through contracted discounts with healthcare providers; and payment and revenue integrity services, which reduce medical costs by identifying and removing improper and unnecessary charges paid during the claim.
Further Reading
- Get a free copy of the StockNews.com research report on MultiPlan (MPLN)
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