State Board of Administration of Florida Retirement System Acquires 16,430 Shares of MultiPlan Co. (NYSE:MPLN)

State Board of Administration of Florida Retirement System boosted its holdings in shares of MultiPlan Co. (NYSE:MPLN – Get Rating) by 73.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,822 shares of the company’s stock after acquiring an additional 16,430 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in MultiPlan were worth $45,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MPLN. Neo Ivy Capital Management purchased a new stake in shares of MultiPlan in the second quarter valued at about $28,000. Power Corp of Canada purchased a new stake in shares of MultiPlan in the first quarter valued at about $33,000. Virtu Financial LLC purchased a new stake in shares of MultiPlan in the second quarter valued at about $70,000. Ergoteles LLC purchased a new stake in shares of MultiPlan in the third quarter valued at about $45,000. Finally, Mackenzie Financial Corp increased its holdings in MultiPlan by 50.2% during the first quarter. Mackenzie Financial Corp now owns 18,372 shares of the company’s stock worth $86,000 after buying an additional 6,140 shares during the last quarter. 82.97% of the stock is owned by institutional investors.

MultiPlan Stock Performance

NYSE MPLN opened at $1.29 on Wednesday. MultiPlan Co. has a 52-week low of $0.61 and a 52-week high of $6.19. The company has a 50-day simple moving average of $1.04 and a 200 day simple moving average of $1.22. The company has a debt-to-equity ratio of 2.57, a quick ratio of 2.38 and a current ratio of 2.38. The company has a market capitalization of $816.11 million, a PE ratio of -1.33 and a beta of 0.50.

MultiPlan (NYSE:MPLN – Get Rating) last issued its earnings results on Tuesday, February 28th. The company reported ($0.20) earnings per share for the quarter. The business had revenue of $241.09 million for the quarter. MultiPlan had a negative return on equity of 6.19% and a negative net margin of 60.56%.

Wall Street Analyst Weigh In

Separately, Citigroup decreased their price objective on shares of MultiPlan from $2.00 to $1.25 and set a “neutral” rating for the company in a report on Wednesday, March 8th.

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.