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

State Street Corp trimmed its stake in MultiPlan Co. (NYSE:MPLN) by 98.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 25,624 shares of the company’s stock after selling 1,464,143 shares during the period. State Street Corp’s holdings in MultiPlan were worth $196,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Fore Capital LLC bought a new stake in shares of MultiPlan during the 2nd quarter worth approximately $37,000. Point72 DIFC Ltd bought a new stake in shares of MultiPlan during the 2nd quarter worth approximately $43,000. Cubist Systematic Strategies LLC bought a new stake in shares of MultiPlan during the 2nd quarter worth approximately $72,000. Hsbc Holdings PLC lifted its stake in shares of MultiPlan by 68.7% during the 2nd quarter. Hsbc Holdings PLC now owns 218,459 shares of the company’s stock worth $87,000 after acquiring an additional 88,944 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of MultiPlan during the 2nd quarter worth approximately $245,000. 87.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Citigroup decreased their price target on MultiPlan from $17.20 to $10.00 and set a “neutral” rating for the company in a research note on Monday, September 23rd.

MultiPlan Stock Up 9.7 %

MPLN opened at $14.21 on Friday. The business’s fifty day moving average price is $8.71. The stock has a market cap of $229.79 million, a P/E ratio of -0.15 and a beta of 0.42. MultiPlan Co. has a 52 week low of $4.80 and a 52 week high of $54.00. 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.