Ares Management LLC Has $43.13 Million Position in MultiPlan Co. $MPLN

Key Points

• Ares Management LLC increased its stake in MultiPlan Co. by 108.5% in Q1, now owning approximately 1.86 million shares valued at $43.13 million.
• Other hedge funds also raised their holdings in MultiPlan, with 87.15% of the total stock currently owned by institutional investors and hedge funds.
• Shares of MultiPlan currently trade at around $68.91 with a notable one-year low of $4.80 and a high of $29.84.

Ares Management LLC grew its position in MultiPlan Co. (NYSE:MPLN - Free Report) by 108.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,863,105 shares of the company's stock after acquiring an additional 969,367 shares during the period. MultiPlan comprises about 2.6% of Ares Management LLC's portfolio, making the stock its 5th largest holding. Ares Management LLC owned 11.52% of MultiPlan worth $43,131,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of MPLN. Northern Trust Corp grew its position in shares of MultiPlan by 5.5% in the 4th quarter. Northern Trust Corp now owns 14,335 shares of the company's stock valued at $212,000 after acquiring an additional 747 shares during the period. Jane Street Group LLC grew its position in shares of MultiPlan by 14.4% in the 4th quarter. Jane Street Group LLC now owns 19,985 shares of the company's stock valued at $295,000 after acquiring an additional 2,512 shares during the period. Bridgeway Capital Management LLC grew its position in shares of MultiPlan by 73.1% in the 4th quarter. Bridgeway Capital Management LLC now owns 76,193 shares of the company's stock valued at $1,126,000 after acquiring an additional 32,187 shares during the period. CastleKnight Management LP bought a new stake in shares of MultiPlan during the 4th quarter worth about $3,314,000. Finally, Millennium Management LLC boosted its holdings in shares of MultiPlan by 43.1% during the 4th quarter. Millennium Management LLC now owns 152,785 shares of the company's stock worth $2,258,000 after buying an additional 46,002 shares during the period. Institutional investors own 87.15% of the company's stock.

MultiPlan Stock Performance

Shares of MPLN stock traded down $0.94 during midday trading on Thursday, hitting $68.38. 55,829 shares of the company were exchanged, compared to its average volume of 123,649. The firm has a market capitalization of $1.11 billion, a P/E ratio of -0.72 and a beta of 0.13. The company has a debt-to-equity ratio of 21.73, a quick ratio of 1.05 and a current ratio of 1.05. The firm's 50 day moving average price is $53.34 and its two-hundred day moving average price is $35.25. MultiPlan Co. has a 52 week low of $4.80 and a 52 week high of $29.84.

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.