Geode Capital Management LLC Raises Stock Position in MultiPlan Co. (NYSE:MPLN)

Geode Capital Management LLC boosted its position in MultiPlan Co. (NYSE:MPLN) by 17.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,615 shares of the company’s stock after purchasing an additional 9,954 shares during the quarter. Geode Capital Management LLC owned about 0.42% of MultiPlan worth $1,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Beach Point Capital Management LP increased its position in shares of MultiPlan by 9.2% in the fourth quarter. Beach Point Capital Management LP now owns 384,982 shares of the company’s stock worth $5,690,000 after purchasing an additional 32,582 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of MultiPlan in the 4th quarter worth $292,000. Empowered Funds LLC increased its holdings in shares of MultiPlan by 5.0% in the 4th quarter. Empowered Funds LLC now owns 46,191 shares of the company’s stock worth $683,000 after buying an additional 2,188 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new stake in shares of MultiPlan during the 4th quarter valued at $2,494,000. 87.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Citigroup increased their target price on MultiPlan from $10.00 to $12.50 and gave the company a “neutral” rating in a research note on Friday, January 10th.

MultiPlan Stock Performance

NYSE:MPLN opened at $22.43 on Friday. The company has a market capitalization of $362.72 million, a price-to-earnings ratio of -0.24 and a beta of 0.13. The business has a 50 day moving average of $20.58 and a 200 day moving average of $15.66. 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 Co. has a 1-year low of $4.80 and a 1-year high of $31.01.

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.