Alps Advisors Inc. bought a new stake in MultiPlan Co. (NYSE:MPLN – Get Rating) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 48,813 shares of the company’s stock, valued at approximately $268,000.
Other large investors have also recently bought and sold shares of the company. Xponance Inc. increased its stake in shares of MultiPlan by 31.6% in the second 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. Swiss National Bank increased its stake in shares of MultiPlan by 2.3% in the first quarter. Swiss National Bank now owns 301,800 shares of the company’s stock valued at $1,412,000 after buying an additional 6,900 shares during the period. Parametrica Management Ltd acquired a new stake in shares of MultiPlan in the second quarter valued at about $98,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of MultiPlan in the second quarter valued at about $84,000. Finally, SG Americas Securities LLC increased its stake in shares of MultiPlan by 408.5% in the second quarter. SG Americas Securities LLC now owns 137,624 shares of the company’s stock valued at $756,000 after buying an additional 110,559 shares during the period.
MultiPlan Trading Up 13.0 %
NYSE MPLN opened at $1.65 on Thursday. The business has a 50 day simple moving average of $2.52 and a 200 day simple moving average of $3.97. MultiPlan Co. has a one year low of $1.41 and a one year high of $6.19. The stock has a market capitalization of $1.05 billion, a P/E ratio of 10.31 and a beta of 0.43. The company has a debt-to-equity ratio of 2.00, a current ratio of 2.30 and a quick ratio of 2.30.
Insider Buying and Selling
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on MPLN shares. The Goldman Sachs Group decreased their price target on MultiPlan from $5.50 to $2.05 and set a “neutral” rating for the company in a research note on Wednesday, November 16th. Barclays decreased their price target on MultiPlan to $3.00 in a research note on Thursday, October 13th. Finally, Citigroup decreased their target price on MultiPlan from $6.00 to $3.00 and set a “buy” rating for the company in a research note on Wednesday, November 9th.
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.
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