Dimensional Fund Advisors LP lifted its holdings in Planet Payment Inc (NASDAQ:PLPM) by 6.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,198,893 shares of the credit services provider’s stock after buying an additional 70,407 shares during the period. Dimensional Fund Advisors LP owned about 2.40% of Planet Payment worth $5,143,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the company. Rhumbline Advisers boosted its position in shares of Planet Payment by 10.4% in the second quarter. Rhumbline Advisers now owns 45,355 shares of the credit services provider’s stock worth $150,000 after buying an additional 4,280 shares during the period. Northern Trust Corp boosted its position in Planet Payment by 1.9% during the second quarter. Northern Trust Corp now owns 463,164 shares of the credit services provider’s stock valued at $1,529,000 after purchasing an additional 8,762 shares during the last quarter. Vanguard Group Inc. boosted its position in Planet Payment by 0.8% during the second quarter. Vanguard Group Inc. now owns 1,456,983 shares of the credit services provider’s stock valued at $4,808,000 after purchasing an additional 11,432 shares during the last quarter. Bridge City Capital LLC boosted its position in Planet Payment by 8.7% during the third quarter. Bridge City Capital LLC now owns 166,722 shares of the credit services provider’s stock valued at $715,000 after purchasing an additional 13,342 shares during the last quarter. Finally, Numeric Investors LLC lifted its position in shares of Planet Payment by 8.5% in the second quarter. Numeric Investors LLC now owns 197,434 shares of the credit services provider’s stock worth $652,000 after buying an additional 15,404 shares during the last quarter. 52.97% of the stock is owned by institutional investors and hedge funds.
PLPM has been the subject of a number of analyst reports. Craig Hallum cut Planet Payment from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. Zacks Investment Research upgraded Planet Payment from a “hold” rating to a “buy” rating and set a $5.00 price objective on the stock in a research note on Tuesday, October 31st. Northland Securities lowered Planet Payment to a “hold” rating and set a $4.50 price objective on the stock. in a research note on Sunday, October 29th. Barrington Research lowered Planet Payment from an “outperform” rating to an “underperform” rating in a research note on Friday, October 27th. Finally, Lake Street Capital lowered Planet Payment from a “buy” rating to a “hold” rating and lowered their price target for the company from $5.00 to $4.50 in a research note on Friday, October 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Planet Payment presently has a consensus rating of “Hold” and a consensus price target of $4.67.
Shares of Planet Payment Inc (NASDAQ:PLPM) opened at $4.49 on Monday. The firm has a market capitalization of $224.00, a P/E ratio of 9.16 and a beta of 0.61. Planet Payment Inc has a 1-year low of $3.10 and a 1-year high of $4.50.
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Planet Payment Profile
Planet Payment, Inc is a provider of international payment and transaction processing and multi-currency processing services. The Company operates through two segments: multi-currency processing services and payment processing services. Its multi-currency processing services segment includes Pay In Your Currency, Multi-Currency Pricing and Dynamic Currency Conversion at automated teller machines, enable merchants to offer customized pricing in multiple currencies.
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