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 during 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 daily trading volume, of 112,900 shares, the days-to-cover ratio is currently 2.7 days. Approximately 4.6% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

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

MultiPlan Trading Down 12.8 %

MPLN traded down $1.98 on Tuesday, reaching $13.48. The stock had a trading volume of 113,710 shares, compared to its average volume of 79,950. The firm’s 50-day moving average price is $8.30. MultiPlan has a fifty-two week low of $4.80 and a fifty-two week high of $58.40. The stock has a market cap of $217.99 million, a P/E ratio of -0.14 and a beta of 0.42. The company has a debt-to-equity ratio of 21.73, a current ratio of 1.05 and a quick ratio of 1.05.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MPLN. Fore Capital LLC bought a new position in shares of MultiPlan during the second quarter valued at $37,000. Point72 DIFC Ltd acquired a new position in MultiPlan during the 2nd quarter worth about $43,000. Cubist Systematic Strategies LLC acquired a new position in MultiPlan during the 2nd quarter worth about $72,000. Hsbc Holdings PLC grew its position in shares of MultiPlan by 68.7% in the 2nd quarter. Hsbc Holdings PLC now owns 218,459 shares of the company’s stock valued at $87,000 after buying an additional 88,944 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of MultiPlan in the second quarter valued at about $245,000. Institutional investors own 87.15% of the company’s stock.

MultiPlan Company 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.