Ares Management LLC Has $13.21 Million Position in MultiPlan Co. (NYSE:MPLN)

Ares Management LLC lifted its stake in shares of MultiPlan Co. (NYSE:MPLN) by 19.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 893,738 shares of the company’s stock after buying an additional 144,000 shares during the quarter. MultiPlan comprises about 0.0% of Ares Management LLC’s portfolio, making the stock its 18th largest holding. Ares Management LLC owned approximately 5.53% of MultiPlan worth $13,209,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Jane Street Group LLC lifted its position in MultiPlan by 14.4% during the fourth quarter. Jane Street Group LLC now owns 19,985 shares of the company’s stock worth $295,000 after acquiring an additional 2,512 shares during the last quarter. Northern Trust Corp lifted its holdings in MultiPlan by 5.5% during the 4th quarter. Northern Trust Corp now owns 14,335 shares of the company’s stock worth $212,000 after purchasing an additional 747 shares during the last quarter. Topline Capital Management LLC acquired a new stake in MultiPlan during the 4th quarter worth approximately $4,755,000. RBF Capital LLC boosted its stake in MultiPlan by 62.3% in the 4th quarter. RBF Capital LLC now owns 147,051 shares of the company’s stock valued at $2,173,000 after purchasing an additional 56,470 shares during the period. Finally, Walleye Capital LLC acquired a new position in MultiPlan in the 4th quarter valued at $359,000. Institutional investors own 87.15% of the company’s stock.

MultiPlan Trading Up 2.7 %

Shares of NYSE:MPLN opened at $23.02 on Thursday. The business’s 50 day simple moving average is $20.72 and its 200 day simple moving average is $15.58. MultiPlan Co. has a 1 year low of $4.80 and a 1 year high of $31.01. The company has a debt-to-equity ratio of 21.73, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $372.26 million, a P/E ratio of -0.24 and a beta of 0.13.

Analyst Ratings Changes

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

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.