Magnetar Financial LLC Has $3.23 Million Stock Position in MultiPlan Co. (NYSE:MPLN)

Magnetar Financial LLC cut its stake in shares of MultiPlan Co. (NYSE:MPLN) by 35.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,985,957 shares of the company’s stock after selling 2,208,932 shares during the period. Magnetar Financial LLC owned about 0.62% of MultiPlan worth $3,233,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Tower Research Capital LLC TRC raised its stake in shares of MultiPlan by 159.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 20,883 shares of the company’s stock valued at $30,000 after acquiring an additional 12,837 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of MultiPlan by 68.8% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 45,653 shares of the company’s stock valued at $37,000 after buying an additional 18,603 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of MultiPlan by 94.7% in the fourth quarter. SG Americas Securities LLC now owns 30,899 shares of the company’s stock valued at $44,000 after buying an additional 15,025 shares during the period. Empowered Funds LLC raised its position in shares of MultiPlan by 98.8% during the first quarter. Empowered Funds LLC now owns 1,550,620 shares of the company’s stock worth $1,258,000 after acquiring an additional 770,826 shares during the last quarter. Finally, Atalaya Capital Management LP lifted its stake in shares of MultiPlan by 16.6% in the fourth quarter. Atalaya Capital Management LP now owns 1,755,664 shares of the company’s stock worth $2,528,000 after acquiring an additional 250,000 shares during the period. 87.15% of the stock is currently owned by institutional investors.

MultiPlan Trading Up 4.4 %

MPLN stock traded up $0.02 during midday trading on Friday, hitting $0.48. The stock had a trading volume of 694,223 shares, compared to its average volume of 4,305,188. The firm has a market cap of $309.60 million, a P/E ratio of -0.49 and a beta of 0.56. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 3.85. The business has a fifty day moving average price of $0.44 and a two-hundred day moving average price of $0.74. MultiPlan Co. has a 1-year low of $0.26 and a 1-year high of $2.16.

MultiPlan (NYSE:MPLN) last issued its earnings results on Wednesday, May 8th. The company reported ($0.03) earnings per share (EPS) for the quarter. MultiPlan had a negative return on equity of 8.11% and a negative net margin of 65.83%. The company had revenue of $234.51 million for the quarter. On average, sell-side analysts predict that MultiPlan Co. will post -0.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler initiated coverage on shares of MultiPlan in a research report on Wednesday, June 26th. They set a “neutral” rating and a $2.00 target price for the company.

Insider Transactions at MultiPlan

In other MultiPlan news, Director Anthony Colaluca, Jr. purchased 160,000 shares of MultiPlan stock in a transaction that occurred on Thursday, May 16th. The stock was acquired at an average price of $0.60 per share, with a total value of $96,000.00. Following the transaction, the director now owns 220,000 shares in the company, valued at approximately $132,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.20% of the stock is owned by insiders.

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.