Alps Advisors Inc. Buys Shares of 48,813 MultiPlan Co. (NYSE:MPLN)

Alps Advisors Inc. bought a new stake in MultiPlan Co. (NYSE:MPLNGet Rating) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 48,813 shares of the company’s stock, valued at approximately $268,000.

Several other institutional investors have also recently bought and sold shares of MPLN. Aaron Wealth Advisors LLC bought a new stake in shares of MultiPlan during the 1st quarter worth approximately $709,000. Lazard Asset Management LLC raised its stake in shares of MultiPlan by 171.2% during the 2nd quarter. Lazard Asset Management LLC now owns 6,971 shares of the company’s stock worth $38,000 after purchasing an additional 4,401 shares in the last quarter. Power Corp of Canada bought a new stake in shares of MultiPlan during the 1st quarter worth approximately $33,000. Nisa Investment Advisors LLC raised its stake in shares of MultiPlan by 284.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 10,420 shares of the company’s stock worth $49,000 after purchasing an additional 7,710 shares in the last quarter. Finally, Strs Ohio raised its stake in shares of MultiPlan by 53.4% during the 2nd quarter. Strs Ohio now owns 11,200 shares of the company’s stock worth $61,000 after purchasing an additional 3,900 shares in the last quarter.

MultiPlan Stock Up 13.0 %

MPLN stock opened at $1.65 on Thursday. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 2.00. The firm has a market capitalization of $1.05 billion, a PE ratio of 10.31 and a beta of 0.43. MultiPlan Co. has a 1-year low of $1.41 and a 1-year high of $6.19. The business’s 50 day simple moving average is $2.52 and its 200 day simple moving average is $3.97.

Insider Buying and Selling at MultiPlan

In other news, Director Anthony Colaluca, Jr. acquired 35,000 shares of the firm’s stock in a transaction on Monday, November 21st. The shares were purchased at an average cost of $1.47 per share, with a total value of $51,450.00. Following the acquisition, the director now directly owns 101,287 shares in the company, valued at approximately $148,891.89. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 10.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MPLN shares. Citigroup decreased their target price on MultiPlan from $6.00 to $3.00 and set a “buy” rating on the stock in a report on Wednesday, November 9th. Barclays decreased their target price on MultiPlan to $3.00 in a report on Thursday, October 13th. Finally, The Goldman Sachs Group decreased their target price on MultiPlan from $5.50 to $2.05 and set a “neutral” rating on the stock in a report on Wednesday, November 16th.

About MultiPlan

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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, which reduce medical costs through data-driven algorithms that detect claims over-charges and recommend or negotiate reimbursement; network-based services that reduce medical costs through contracted discounts with healthcare providers; and payment and revenue integrity services, which reduce medical costs by identifying and removing improper and unnecessary charges paid during the claim.

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Institutional Ownership by Quarter for MultiPlan (NYSE:MPLN)

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