Geode Capital Management LLC Has $441,000 Stock Position in MultiPlan Co. (NYSE:MPLN)

Geode Capital Management LLC lessened its position in shares of MultiPlan Co. (NYSE:MPLN) by 98.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,661 shares of the company’s stock after selling 2,792,187 shares during the quarter. Geode Capital Management LLC’s holdings in MultiPlan were worth $441,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Hsbc Holdings PLC lifted its position in MultiPlan by 68.7% in the second quarter. Hsbc Holdings PLC now owns 218,459 shares of the company’s stock worth $87,000 after purchasing an additional 88,944 shares during the period. Point72 DIFC Ltd bought a new stake in MultiPlan in the 2nd quarter valued at $43,000. Cubist Systematic Strategies LLC acquired a new position in shares of MultiPlan in the 2nd quarter valued at $72,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of MultiPlan during the 2nd quarter worth about $245,000. Finally, AQR Capital Management LLC boosted its position in shares of MultiPlan by 386.2% during the 2nd quarter. AQR Capital Management LLC now owns 2,742,735 shares of the company’s stock valued at $1,065,000 after acquiring an additional 2,178,590 shares in the last quarter. 87.15% of the stock is currently owned by institutional investors.

MultiPlan Price Performance

Shares of MPLN stock opened at $12.77 on Monday. The company has a fifty day moving average of $9.00. MultiPlan Co. has a one year low of $4.80 and a one year high of $53.60. The firm has a market cap of $206.50 million, a price-to-earnings ratio of -0.13 and a beta of 0.10. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 21.73.

Wall Street Analysts Forecast Growth

Separately, Citigroup increased their price target on shares of MultiPlan from $10.00 to $12.50 and gave the stock a “neutral” rating in a research report on Friday.

About MultiPlan

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.