Oak Hill Advisors LP Sells 3,411,471 Shares of MultiPlan Co. (NYSE:MPLN)

Oak Hill Advisors LP lessened its position in shares of MultiPlan Co. (NYSE:MPLN) by 97.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 87,463 shares of the company’s stock after selling 3,411,471 shares during the period. MultiPlan makes up about 0.1% of Oak Hill Advisors LP’s holdings, making the stock its 14th biggest position. Oak Hill Advisors LP’s holdings in MultiPlan were worth $668,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MPLN. Price T Rowe Associates Inc. MD boosted its position in shares of MultiPlan by 19.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 407,105 shares of the company’s stock valued at $331,000 after acquiring an additional 66,172 shares during the last quarter. Fore Capital LLC bought a new stake in MultiPlan during the second quarter valued at approximately $37,000. Cubist Systematic Strategies LLC purchased a new position in MultiPlan in the 2nd quarter worth approximately $72,000. Millennium Management LLC increased its holdings in shares of MultiPlan by 3,401.0% in the 2nd quarter. Millennium Management LLC now owns 8,426,081 shares of the company’s stock worth $3,273,000 after buying an additional 8,185,402 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of MultiPlan by 386.2% during the 2nd quarter. AQR Capital Management LLC now owns 2,742,735 shares of the company’s stock valued at $1,065,000 after buying an additional 2,178,590 shares in the last quarter. 87.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

MultiPlan Price Performance

Shares of MPLN opened at $7.25 on Wednesday. The stock has a market capitalization of $117.24 million, a price-to-earnings ratio of -0.08 and a beta of 0.42. MultiPlan Co. has a 1 year low of $4.80 and a 1 year high of $69.20. The stock has a 50 day moving average price of $8.59. The company has a debt-to-equity ratio of 21.73, a quick ratio of 1.05 and a current ratio of 1.05.

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.