MultiPlan (NYSE:MPLN) Stock Price Expected to Rise, Citigroup Analyst Says

MultiPlan (NYSE:MPLN) had its price target increased by Citigroup from $10.00 to $12.50 in a research report report published on Friday morning,Benzinga reports. Citigroup currently has a neutral rating on the stock.

MultiPlan Trading Up 3.2 %

Shares of NYSE MPLN opened at $12.77 on Friday. The company 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 quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 21.73. MultiPlan has a 1 year low of $4.80 and a 1 year high of $53.60. The company has a 50-day simple moving average of $9.00.

Institutional Trading of MultiPlan

Hedge funds have recently modified their holdings of the company. Point72 DIFC Ltd acquired a new stake in shares of MultiPlan in the 2nd quarter valued at approximately $43,000. Cubist Systematic Strategies LLC acquired a new stake in shares of MultiPlan in the 2nd quarter valued at approximately $72,000. Hsbc Holdings PLC raised its position in shares of MultiPlan by 68.7% in the 2nd quarter. Hsbc Holdings PLC now owns 218,459 shares of the company’s stock valued at $87,000 after acquiring an additional 88,944 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of MultiPlan in the 2nd quarter valued at approximately $245,000. Finally, AQR Capital Management LLC raised its position in shares of MultiPlan by 386.2% in 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 during the period. 87.15% of the stock is currently owned by institutional investors and hedge funds.

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.