CastleKnight Management LP Makes New $3.31 Million Investment in MultiPlan Co. (NYSE:MPLN)

CastleKnight Management LP purchased a new stake in shares of MultiPlan Co. (NYSE:MPLN) during the 4th quarter, Holdings Channel reports. The fund purchased 224,229 shares of the company’s stock, valued at approximately $3,314,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northern Trust Corp raised its holdings in MultiPlan by 5.5% during the fourth quarter. Northern Trust Corp now owns 14,335 shares of the company’s stock valued at $212,000 after buying an additional 747 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of MultiPlan during the 4th quarter worth $225,000. Oppenheimer & Co. Inc. bought a new position in MultiPlan in the 4th quarter worth $292,000. Jane Street Group LLC increased its position in MultiPlan by 14.4% in the 4th quarter. Jane Street Group LLC now owns 19,985 shares of the company’s stock worth $295,000 after buying an additional 2,512 shares during the period. Finally, Walleye Capital LLC bought a new stake in MultiPlan in the 4th quarter valued at $359,000. 87.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

MultiPlan Price Performance

Shares of MPLN stock opened at $22.35 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 21.73. The firm has a market cap of $361.42 million, a price-to-earnings ratio of -0.24 and a beta of 0.13. The stock has a 50-day moving average price of $20.61 and a 200 day moving average price of $15.88. MultiPlan Co. has a 12 month low of $4.80 and a 12 month high of $31.01.

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.