Topline Capital Management LLC Acquires New Shares in MultiPlan Co. (NYSE:MPLN)

by · The Markets Daily

Topline Capital Management LLC purchased a new stake in shares of MultiPlan Co. (NYSE:MPLN – Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 321,698 shares of the company’s stock, valued at approximately $4,755,000. MultiPlan comprises approximately 0.9% of Topline Capital Management LLC’s holdings, making the stock its 21st biggest position.

Several other large investors have also made changes to their positions in the company. Beach Point Capital Management LP lifted its stake in MultiPlan by 9.2% in the fourth quarter. Beach Point Capital Management LP now owns 384,982 shares of the company’s stock valued at $5,690,000 after acquiring an additional 32,582 shares during the last quarter. Prudential Financial Inc. bought a new position in shares of MultiPlan during the 4th quarter valued at $2,494,000. RBF Capital LLC lifted its stake in shares of MultiPlan by 62.3% in the 4th quarter. RBF Capital LLC now owns 147,051 shares of the company’s stock valued at $2,173,000 after purchasing an additional 56,470 shares during the last quarter. Geode Capital Management LLC boosted its holdings in MultiPlan by 17.3% in the fourth quarter. Geode Capital Management LLC now owns 67,615 shares of the company’s stock worth $1,000,000 after purchasing an additional 9,954 shares in the last quarter. Finally, Empowered Funds LLC increased its position in 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 last quarter. Institutional investors own 87.15% of the company’s stock.

MultiPlan Price Performance

Shares of MultiPlan stock opened at $22.22 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 21.73. The firm has a fifty day simple moving average of $21.24 and a 200-day simple moving average of $15.24. The stock 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 1-year low of $4.80 and a 1-year high of $31.01.

Analyst Upgrades and Downgrades

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.

Read Our Latest Report on MPLN

About MultiPlan

(Free Report)

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.

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