Ares Management LLC boosted its holdings in MultiPlan Co. (NYSE:MPLN - Free Report) by 19.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 893,738 shares of the company's stock after acquiring an additional 144,000 shares during the quarter. MultiPlan comprises approximately 0.0% of Ares Management LLC's portfolio, making the stock its 18th biggest holding. Ares Management LLC owned about 5.53% of MultiPlan worth $13,209,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Topline Capital Management LLC acquired a new stake in shares of MultiPlan in the fourth quarter worth approximately $4,755,000. Prudential Financial Inc. acquired a new position in MultiPlan in the fourth quarter valued at $2,494,000. RBF Capital LLC grew its position in MultiPlan by 62.3% during the fourth quarter. RBF Capital LLC now owns 147,051 shares of the company's stock valued at $2,173,000 after acquiring an additional 56,470 shares during the period. Trexquant Investment LP purchased a new position in shares of MultiPlan in the 4th quarter worth about $610,000. Finally, Beach Point Capital Management LP lifted its stake in shares of MultiPlan by 9.2% in the 4th quarter. Beach Point Capital Management LP now owns 384,982 shares of the company's stock valued at $5,690,000 after purchasing an additional 32,582 shares in the last quarter. 87.15% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Separately, Citigroup increased their target price 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.
Get Our Latest Research Report on MPLN
MultiPlan Stock Up 0.7 %
Shares of MPLN traded up $0.15 during midday trading on Friday, reaching $22.35. 49,835 shares of the company were exchanged, compared to its average volume of 115,937. The stock has a 50-day moving average price of $20.63 and a 200-day moving average price of $15.78. The company has a market cap of $361.42 million, a price-to-earnings ratio of -0.24 and a beta of 0.13. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 21.73. MultiPlan Co. has a 1-year low of $4.80 and a 1-year high of $31.01.
About MultiPlan
(
Free Report)
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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