Oppenheimer & Co. Inc. Takes $292,000 Position in MultiPlan Co. (NYSE:MPLN)

Oppenheimer & Co. Inc. acquired a new stake in MultiPlan Co. (NYSE:MPLN) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 19,729 shares of the company’s stock, valued at approximately $292,000. Oppenheimer & Co. Inc. owned 0.12% of MultiPlan as of its most recent SEC filing.

Separately, Beach Point Capital Management LP grew its position in shares of 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 purchasing an additional 32,582 shares during the period. 87.15% of the stock is currently owned by hedge funds and other institutional investors.

MultiPlan Trading Down 6.4 %

MPLN stock opened at $18.26 on Friday. The firm’s 50-day moving average price is $19.39. MultiPlan Co. has a 12-month low of $4.80 and a 12-month high of $37.61. The company has a debt-to-equity ratio of 21.73, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $295.28 million, a P/E ratio of -0.19 and a beta of 0.13.

Analyst Upgrades and Downgrades

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