Barclays PLC Decreases Stock Holdings in MultiPlan Co. (NYSE:MPLN)

Barclays PLC lessened its holdings in MultiPlan Co. (NYSE:MPLN) by 96.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 280,000 shares of the company’s stock after selling 6,734,036 shares during the period. Barclays PLC owned about 1.73% of MultiPlan worth $2,139,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MPLN. Millennium Management LLC boosted its position in MultiPlan by 3,401.0% in the 2nd quarter. Millennium Management LLC now owns 8,426,081 shares of the company’s stock valued at $3,273,000 after buying an additional 8,185,402 shares during the last quarter. AQR Capital Management LLC boosted its holdings in MultiPlan by 386.2% in the second quarter. AQR Capital Management LLC now owns 2,742,735 shares of the company’s stock valued at $1,065,000 after purchasing an additional 2,178,590 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in MultiPlan during the 2nd quarter valued at approximately $245,000. Cubist Systematic Strategies LLC acquired a new stake in MultiPlan during the 2nd quarter valued at approximately $72,000. Finally, Point72 DIFC Ltd acquired a new position in shares of MultiPlan in the 2nd quarter valued at approximately $43,000. Institutional investors and hedge funds own 87.15% of the company’s stock.

MultiPlan Stock Performance

Shares of MultiPlan stock opened at $12.56 on Friday. The firm has a market cap of $203.11 million, a price-to-earnings ratio of -0.13 and a beta of 0.42. MultiPlan Co. has a 1 year low of $4.80 and a 1 year high of $69.20. The firm has a 50-day moving average of $8.19. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 21.73.

Analyst Upgrades and Downgrades

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

About MultiPlan

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.