17,883 Shares in MultiPlan Co. (NYSE:MPLN) Acquired by Martingale Asset Management L P

Martingale Asset Management L P acquired a new position in MultiPlan Co. (NYSE:MPLNGet Rating) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 17,883 shares of the company’s stock, valued at approximately $99,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aaron Wealth Advisors LLC acquired a new position in MultiPlan in the 1st quarter worth approximately $709,000. New York State Common Retirement Fund boosted its stake in shares of MultiPlan by 1.5% during the 1st quarter. New York State Common Retirement Fund now owns 251,021 shares of the company’s stock valued at $1,175,000 after buying an additional 3,773 shares during the period. Strs Ohio boosted its stake in shares of MultiPlan by 53.4% during the 2nd quarter. Strs Ohio now owns 11,200 shares of the company’s stock valued at $61,000 after buying an additional 3,900 shares during the period. Lazard Asset Management LLC boosted its stake in shares of MultiPlan by 171.2% during the 2nd quarter. Lazard Asset Management LLC now owns 6,971 shares of the company’s stock valued at $38,000 after buying an additional 4,401 shares during the period. Finally, Xponance Inc. boosted its stake in shares of MultiPlan by 31.6% during the 2nd quarter. Xponance Inc. now owns 20,394 shares of the company’s stock valued at $112,000 after buying an additional 4,895 shares during the period.

Analyst Ratings Changes

A number of brokerages have issued reports on MPLN. Barclays decreased their target price on shares of MultiPlan to $3.00 in a research note on Thursday, October 13th. Citigroup decreased their target price on shares of MultiPlan from $6.00 to $3.00 and set a “buy” rating for the company in a research note on Wednesday, November 9th. Finally, The Goldman Sachs Group decreased their target price on shares of MultiPlan from $5.50 to $2.05 and set a “neutral” rating for the company in a research note on Wednesday, November 16th.

Insider Activity at MultiPlan

In other MultiPlan news, Director Anthony Colaluca, Jr. acquired 35,000 shares of MultiPlan stock in a transaction that occurred on Monday, November 21st. The stock was acquired at an average price of $1.47 per share, with a total value of $51,450.00. Following the purchase, the director now owns 101,287 shares in the company, valued at $148,891.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.10% of the stock is owned by company insiders.

MultiPlan Stock Up 13.0 %

MPLN stock opened at $1.65 on Thursday. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 2.00. MultiPlan Co. has a 1 year low of $1.41 and a 1 year high of $6.19. The company has a fifty day simple moving average of $2.52 and a 200 day simple moving average of $3.97. The firm has a market cap of $1.05 billion, a PE ratio of 10.31 and a beta of 0.43.

About MultiPlan

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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

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Institutional Ownership by Quarter for MultiPlan (NYSE:MPLN)

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