Ares Management LLC Buys 144,000 Shares of MultiPlan Co. (NYSE:MPLN)

Ares Management LLC grew its holdings in MultiPlan Co. (NYSE:MPLN - Free Report) by 19.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 893,738 shares of the company's stock after purchasing an additional 144,000 shares during the quarter. MultiPlan makes up approximately 0.0% of Ares Management LLC's holdings, making the stock its 18th biggest holding. Ares Management LLC owned about 5.53% of MultiPlan worth $13,209,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Northern Trust Corp increased its holdings in MultiPlan by 5.5% during the 4th quarter. Northern Trust Corp now owns 14,335 shares of the company's stock worth $212,000 after purchasing an additional 747 shares in the last quarter. XTX Topco Ltd bought a new stake in MultiPlan in the 4th quarter valued at approximately $225,000. Oppenheimer & Co. Inc. acquired a new position in MultiPlan during the 4th quarter worth approximately $292,000. Jane Street Group LLC raised its holdings in shares of MultiPlan by 14.4% in the fourth quarter. Jane Street Group LLC now owns 19,985 shares of the company's stock valued at $295,000 after purchasing an additional 2,512 shares during the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of MultiPlan in the fourth quarter worth $359,000. Institutional investors own 87.15% of the company's stock.

Wall Street Analyst Weigh In

Separately, Citigroup increased their price objective on shares of MultiPlan from $10.00 to $12.50 and gave the stock a "neutral" rating in a research note on Friday, January 10th.

MultiPlan Stock Performance

NYSE MPLN traded down $0.98 during trading on Tuesday, reaching $21.37. 39,810 shares of the company's stock were exchanged, compared to its average volume of 115,937. MultiPlan Co. has a fifty-two week low of $4.80 and a fifty-two week high of $31.01. The stock has a market capitalization of $345.57 million, a P/E ratio of -0.22 and a beta of 0.13. The business has a 50 day moving average price of $20.61 and a 200-day moving average price of $15.88. 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.