MultiPlan (NYSE:MPLN) Price Target Raised to $12.50

MultiPlan (NYSE:MPLN) had its price target raised by investment analysts at Citigroup from $10.00 to $12.50 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price objective would indicate a potential upside of 2.71% from the company’s current price.

MultiPlan Stock Performance

Shares of NYSE MPLN traded down $0.20 during trading on Friday, hitting $12.17. The company had a trading volume of 71,981 shares, compared to its average volume of 166,325. MultiPlan has a 52 week low of $4.80 and a 52 week high of $53.60. The firm has a 50-day moving average of $8.93. The company has a market cap of $196.80 million, a P/E ratio of -0.13 and a beta of 0.10. The company has a debt-to-equity ratio of 21.73, a quick ratio of 1.05 and a current ratio of 1.05.

Institutional Trading of MultiPlan

Hedge funds have recently modified their holdings of the business. Cubist Systematic Strategies LLC acquired a new position in MultiPlan in the second quarter worth approximately $72,000. Millennium Management LLC raised its holdings in shares of MultiPlan by 3,401.0% during the 2nd quarter. Millennium Management LLC now owns 8,426,081 shares of the company’s stock valued at $3,273,000 after purchasing an additional 8,185,402 shares in the last quarter. AQR Capital Management LLC boosted its holdings in MultiPlan by 386.2% in the second quarter. AQR Capital Management LLC now owns 2,742,735 shares of the company’s stock worth $1,065,000 after purchasing an additional 2,178,590 shares in the last quarter. Hsbc Holdings PLC increased its position in MultiPlan by 68.7% during the second quarter. Hsbc Holdings PLC now owns 218,459 shares of the company’s stock worth $87,000 after buying an additional 88,944 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new position in shares of MultiPlan in the 2nd quarter valued at approximately $43,000. Hedge funds and other institutional investors own 87.15% of the company’s stock.

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.