321,698 Shares in MultiPlan Co. (NYSE:MPLN) Bought by Topline Capital Management LLC

Topline Capital Management LLC bought a new stake in MultiPlan Co. (NYSE:MPLN) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 321,698 shares of the company’s stock, valued at approximately $4,755,000. MultiPlan comprises 0.9% of Topline Capital Management LLC’s holdings, making the stock its 21st biggest holding. Topline Capital Management LLC owned approximately 1.99% of MultiPlan as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MPLN. Beach Point Capital Management LP lifted its position in MultiPlan by 9.2% in the 4th quarter. Beach Point Capital Management LP now owns 384,982 shares of the company’s stock valued at $5,690,000 after purchasing an additional 32,582 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of MultiPlan during the fourth quarter valued at approximately $292,000. Empowered Funds LLC boosted its position in shares of MultiPlan by 5.0% during the fourth quarter. Empowered Funds LLC now owns 46,191 shares of the company’s stock worth $683,000 after buying an additional 2,188 shares during the period. Prudential Financial Inc. bought a new position in MultiPlan in the 4th quarter worth approximately $2,494,000. Finally, Trexquant Investment LP bought a new position in MultiPlan in the 4th quarter worth approximately $610,000. Institutional investors and hedge funds own 87.15% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Citigroup boosted their price target on MultiPlan from $10.00 to $12.50 and gave the stock a “neutral” rating in a research report on Friday, January 10th.

MultiPlan Stock Up 8.7 %

MPLN stock opened at $22.22 on Friday. The firm’s 50-day moving average is $21.24 and its two-hundred day moving average is $15.24. The company has a market capitalization of $359.32 million, a price-to-earnings ratio of -0.23 and a beta of 0.13. MultiPlan Co. has a 52 week low of $4.80 and a 52 week high of $31.01. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 21.73.

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 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.