Northern Trust Corp Invests $3.71 Million in MultiPlan Co. (NYSE:MPLN)

Northern Trust Corp purchased a new stake in shares of MultiPlan Co. (NYSE:MPLN) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 464,535 shares of the company’s stock, valued at approximately $3,712,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. California Public Employees Retirement System purchased a new position in shares of MultiPlan in the 4th quarter worth $6,307,000. Wellington Shields Capital Management LLC bought a new position in shares of MultiPlan in the 4th quarter valued at about $312,000. Park Avenue Securities LLC purchased a new position in MultiPlan in the fourth quarter worth about $304,000. BlackRock Inc. bought a new stake in MultiPlan during the fourth quarter worth approximately $34,977,000. Finally, FNY Investment Advisers LLC bought a new stake in MultiPlan during the fourth quarter worth approximately $148,000. Institutional investors and hedge funds own 0.08% of the company’s stock.

Shares of NYSE MPLN opened at $6.59 on Thursday. The stock has a 50-day moving average price of $6.38. MultiPlan Co. has a 1 year low of $5.48 and a 1 year high of $12.93.

A number of brokerages have recently commented on MPLN. Barclays assumed coverage on MultiPlan in a report on Thursday, March 25th. They issued an “equal weight” rating and a $7.00 target price for the company. B. Riley assumed coverage on shares of MultiPlan in a research note on Tuesday. They set a “buy” rating and a $10.00 price objective for the company.

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, which reduce medical costs through data-driven algorithms that detect claims over-charges and recommend or negotiate reimbursement; network-based services that reduce medical costs through contracted discounts with healthcare providers; and payment integrity services, which reduce medical costs by identifying and removing improper and unnecessary charges paid during the claim.

Read More: The limitations of an equal weight rating

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Institutional Ownership by Quarter for MultiPlan (NYSE:MPLN)

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