Topline Capital Management LLC Invests $4.76 Million in MultiPlan Co. (NYSE:MPLN)

Topline Capital Management LLC bought a new position in shares of MultiPlan Co. (NYSE:MPLN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 investment portfolio, making the stock its 21st largest position. Topline Capital Management LLC owned 1.99% of MultiPlan at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MPLN. Beach Point Capital Management LP increased 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 acquiring an additional 32,582 shares in the last quarter. Prudential Financial Inc. acquired a new stake in shares of MultiPlan in the 4th quarter valued at $2,494,000. RBF Capital LLC raised its position in shares of MultiPlan by 62.3% during the fourth quarter. RBF Capital LLC now owns 147,051 shares of the company's stock worth $2,173,000 after acquiring an additional 56,470 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of MultiPlan by 17.3% during the fourth quarter. Geode Capital Management LLC now owns 67,615 shares of the company's stock valued at $1,000,000 after acquiring an additional 9,954 shares during the period. Finally, Empowered Funds LLC boosted its holdings in MultiPlan by 5.0% in the fourth quarter. Empowered Funds LLC now owns 46,191 shares of the company's stock valued at $683,000 after acquiring an additional 2,188 shares during the last quarter. 87.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Citigroup upped their target price on shares of MultiPlan from $10.00 to $12.50 and gave the company a "neutral" rating in a research report on Friday, January 10th.

MultiPlan Trading Up 2.7 %

Shares of NYSE:MPLN traded up $0.61 during midday trading on Wednesday, hitting $23.02. The company had a trading volume of 44,691 shares, compared to its average volume of 114,351. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 21.73. MultiPlan Co. has a 12 month low of $4.80 and a 12 month high of $31.01. The firm has a fifty day simple moving average of $20.85 and a 200 day simple moving average of $15.53. The stock has a market cap of $372.26 million, a price-to-earnings ratio of -0.24 and a beta of 0.13.

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.