California Public Employees Retirement System acquired a new stake in shares of MultiPlan Co. (NYSE:MPLN) in the fourth quarter, HoldingsChannel reports. The fund acquired 789,368 shares of the company’s stock, valued at approximately $6,307,000.
Other hedge funds have also recently modified their holdings of the company. First Trust Advisors LP purchased a new stake in shares of MultiPlan during the 4th quarter worth about $2,749,000. Deltec Asset Management LLC acquired a new position in MultiPlan in the fourth quarter worth approximately $320,000. Park Avenue Securities LLC bought a new position in MultiPlan during the fourth quarter valued at approximately $304,000. FNY Investment Advisers LLC bought a new position in MultiPlan during the fourth quarter valued at approximately $148,000. Finally, LGT Capital Partners LTD. acquired a new stake in MultiPlan in the fourth quarter valued at approximately $4,075,000. 0.08% of the stock is currently owned by institutional investors.
A number of research analysts have recently weighed in on MPLN shares. Smith Barney Citigroup started coverage on shares of MultiPlan in a report on Monday, November 16th. They set a “buy” rating and a $10.00 price target on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell began coverage on MultiPlan in a report on Monday, November 16th. They set a “buy” rating and a $10.00 target price on the stock.
In other MultiPlan news, Director Glenn R. August bought 100,000 shares of the stock in a transaction on Friday, December 4th. The shares were purchased at an average price of $7.00 per share, with a total value of $700,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Glenn R. August purchased 197,052 shares of the company’s stock in a transaction on Wednesday, December 2nd. The stock was acquired at an average cost of $7.00 per share, for a total transaction of $1,379,364.00. The disclosure for this purchase can be found here. Insiders purchased a total of 2,009,097 shares of company stock worth $16,266,043 in the last quarter.
NYSE MPLN opened at $7.52 on Tuesday. MultiPlan Co. has a 1 year low of $6.12 and a 1 year high of $12.93. The business’s fifty day moving average price is $7.73.
MultiPlan Corporation provides data analytics and technology-enabled cost management solutions to the U.S. healthcare industry. The company offers analytics-based services, which reduce medical costs for consumers and payors through data-driven algorithms that detect claims anomalies; network-based services that reduce medical costs through contracted discounts with healthcare providers and include independent preferred provider organizations in the United States; and payment integrity services, which reduce medical costs by identifying and removing improper and unnecessary charges before claims are paid.
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