Charles Schwab Investment Management Inc. Has $936,000 Stake in MultiPlan Co. (NYSE:MPLN)

Charles Schwab Investment Management Inc. decreased its position in shares of MultiPlan Co. (NYSE:MPLN) by 98.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 122,514 shares of the company’s stock after selling 6,227,165 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.76% of MultiPlan worth $936,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of MPLN. Fore Capital LLC acquired a new stake in shares of MultiPlan during the 2nd quarter worth $37,000. Cubist Systematic Strategies LLC acquired a new stake in MultiPlan in the second quarter valued at about $72,000. Millennium Management LLC lifted its holdings in shares of MultiPlan by 3,401.0% in the second quarter. Millennium Management LLC now owns 8,426,081 shares of the company’s stock worth $3,273,000 after acquiring an additional 8,185,402 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of MultiPlan by 386.2% in the 2nd 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 in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of MultiPlan by 68.7% during the 2nd quarter. Hsbc Holdings PLC now owns 218,459 shares of the company’s stock valued at $87,000 after purchasing an additional 88,944 shares during the last quarter. Institutional investors and hedge funds own 87.15% of the company’s stock.

MultiPlan Price Performance

NYSE:MPLN opened at $7.09 on Wednesday. MultiPlan Co. has a one year low of $4.80 and a one year high of $69.20. 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 cap of $114.65 million, a P/E ratio of -0.07 and a beta of 0.42. The stock’s 50 day simple moving average is $8.42.

Analyst Ratings Changes

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

MultiPlan 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.