Russell Investments Group Ltd. lifted its holdings in shares of Planet Payment, Inc. (NASDAQ:PLPM) by 15.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 419,886 shares of the credit services provider’s stock after purchasing an additional 56,127 shares during the quarter. Russell Investments Group Ltd. owned about 0.86% of Planet Payment worth $1,386,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Acrospire Investment Management LLC grew its holdings in shares of Planet Payment by 36.6% during the 1st quarter. Acrospire Investment Management LLC now owns 25,128 shares of the credit services provider’s stock worth $100,000 after purchasing an additional 6,733 shares during the period. American International Group Inc. grew its holdings in shares of Planet Payment by 7.1% during the 1st quarter. American International Group Inc. now owns 26,075 shares of the credit services provider’s stock worth $104,000 after purchasing an additional 1,729 shares during the period. SpiderRock Advisors LLC purchased a new position in shares of Planet Payment during the 2nd quarter worth $111,000. Bard Associates Inc. grew its holdings in shares of Planet Payment by 13.9% during the 1st quarter. Bard Associates Inc. now owns 45,050 shares of the credit services provider’s stock worth $179,000 after purchasing an additional 5,500 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Planet Payment during the 1st quarter worth $183,000. Institutional investors and hedge funds own 53.97% of the company’s stock.
Shares of Planet Payment, Inc. (PLPM) traded up 7.96% during trading on Friday, reaching $4.34. The company had a trading volume of 1,255,907 shares. The firm has a 50-day moving average of $3.67 and a 200 day moving average of $3.73. The firm has a market capitalization of $213.69 million, a price-to-earnings ratio of 9.56 and a beta of 0.61. Planet Payment, Inc. has a 52 week low of $2.75 and a 52 week high of $4.64.
Planet Payment (NASDAQ:PLPM) last posted its quarterly earnings results on Wednesday, August 9th. The credit services provider reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.01. Planet Payment had a return on equity of 25.86% and a net margin of 48.14%. The firm had revenue of $12.50 million during the quarter, compared to the consensus estimate of $13.56 million. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. On average, equities research analysts forecast that Planet Payment, Inc. will post $0.17 earnings per share for the current year.
Separately, Zacks Investment Research cut Planet Payment from a “hold” rating to a “sell” rating in a report on Friday, August 11th.
Planet Payment Company 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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