Charles Schwab Investment Management Inc. cut its position in shares of MultiPlan Co. (NYSE:MPLN – Free Report) by 38.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 75,404 shares of the company’s stock after selling 47,110 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in MultiPlan were worth $1,114,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Beach Point Capital Management LP lifted its holdings in MultiPlan by 9.2% in the fourth quarter. Beach Point Capital Management LP now owns 384,982 shares of the company’s stock worth $5,690,000 after acquiring an additional 32,582 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of MultiPlan by 5.0% during the fourth quarter. Empowered Funds LLC now owns 46,191 shares of the company’s stock valued at $683,000 after purchasing an additional 2,188 shares during the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of MultiPlan during the 4th quarter worth approximately $292,000. 87.15% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, Citigroup upped their price target on shares of MultiPlan from $10.00 to $12.50 and gave the stock a “neutral” rating in a research report on Friday, January 10th.
MultiPlan Price Performance
MPLN stock opened at $20.77 on Monday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 21.73. The firm has a market capitalization of $335.87 million, a price-to-earnings ratio of -0.22 and a beta of 0.13. MultiPlan Co. has a 12 month low of $4.80 and a 12 month high of $35.96. The company’s 50 day simple moving average is $21.24.
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.
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