MultiPlan Co. (NYSE:MPLN) Short Interest Down 13.7% in December

MultiPlan Co. (NYSE:MPLN) was the target of a large decrease in short interest in the month of December. As of December 15th, there was short interest totalling 302,600 shares, a decrease of 13.7% from the November 30th total of 350,700 shares. Based on an average trading volume of 112,900 shares, the short-interest ratio is presently 2.7 days. Approximately 4.6% of the shares of the stock are short sold.

Analyst Ratings Changes

Separately, Citigroup reduced their price objective on MultiPlan from $17.20 to $10.00 and set a “neutral” rating for the company in a report on Monday, September 23rd.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Millennium Management LLC grew its holdings in 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 buying an additional 8,185,402 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of MultiPlan by 386.2% during the second 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 last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in MultiPlan during the 2nd quarter worth about $245,000. Cubist Systematic Strategies LLC acquired a new position in MultiPlan in the 2nd quarter valued at about $72,000. Finally, Point72 DIFC Ltd purchased a new position in MultiPlan in the 2nd quarter valued at about $43,000. 87.15% of the stock is owned by hedge funds and other institutional investors.

MultiPlan Trading Down 4.4 %

NYSE:MPLN opened at $14.78 on Wednesday. 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 stock has a market cap of $239.01 million, a P/E ratio of -0.16 and a beta of 0.42. The company’s 50-day simple moving average is $8.47. MultiPlan has a twelve month low of $4.80 and a twelve month high of $58.40.

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.