Beach Point Capital Management LP Acquires 32,582 Shares of MultiPlan Co. (NYSE:MPLN)

Beach Point Capital Management LP boosted its stake in shares of MultiPlan Co. (NYSE:MPLN - Free Report) by 9.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 384,982 shares of the company's stock after buying an additional 32,582 shares during the quarter. MultiPlan accounts for approximately 0.6% of Beach Point Capital Management LP's portfolio, making the stock its 8th largest holding. Beach Point Capital Management LP owned 2.38% of MultiPlan worth $5,690,000 at the end of the most recent reporting period.

Separately, Cubist Systematic Strategies LLC purchased a new position in shares of MultiPlan in the 2nd quarter worth about $72,000. Institutional investors own 87.15% of the company's stock.

MultiPlan Stock Up 5.6 %

MPLN stock traded up $1.45 during trading on Monday, hitting $27.53. 114,887 shares of the company's stock traded hands, compared to its average volume of 151,961. MultiPlan Co. has a 52 week low of $4.80 and a 52 week high of $53.60. The firm's fifty day moving average price is $15.19. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 21.73. The stock has a market cap of $445.22 million, a PE ratio of -0.29 and a beta of 0.13.

Wall Street Analysts Forecast Growth

Separately, Citigroup boosted their price objective on shares of MultiPlan from $10.00 to $12.50 and gave the stock a "neutral" rating in a research note on Friday, January 10th.

MultiPlan Company 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.