Planet Payment Inc. (NASDAQ:PLPM) traded down 14.3% during mid-day trading on Thursday . The company traded as low as $3.50 and last traded at $3.94, with a volume of 1,216,092 shares trading hands. The stock had previously closed at $4.60.

A number of equities research analysts recently issued reports on the company. Zacks Investment Research lowered Planet Payment from a “buy” rating to a “hold” rating in a research note on Wednesday, July 6th. Lake Street Capital upped their target price on Planet Payment from $4.25 to $4.50 and gave the company a “buy” rating in a research note on Thursday, May 5th. Ladenburg Thalmann assumed coverage on Planet Payment in a research note on Monday, July 11th. They issued a “buy” rating and a $6.20 target price on the stock. Finally, Northland Securities initiated coverage on Planet Payment in a report on Wednesday, April 13th. They issued an “outperform” rating for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $5.15.

The firm has a market capitalization of $184.30 million and a P/E ratio of 21.23. The firm’s 50-day moving average is $4.31 and its 200 day moving average is $3.73.

Planet Payment (NASDAQ:PLPM) last posted its quarterly earnings data on Thursday, May 5th. The company reported $0.03 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.03. Analysts anticipate that Planet Payment Inc. will post $0.16 earnings per share for the current fiscal year.

In related news, Director Jonathan Kaiden sold 15,880 shares of the firm’s stock in a transaction that occurred on Friday, May 20th. The shares were sold at an average price of $4.51, for a total transaction of $71,618.80. Following the transaction, the director now owns 105,010 shares in the company, valued at $473,595.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

An institutional investor recently raised its position in Planet Payment stock. Dimensional Fund Advisors LP boosted its position in Planet Payment Inc. (NASDAQ:PLPM) by 77.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 355,027 shares of the company’s stock after buying an additional 155,137 shares during the period. Dimensional Fund Advisors LP owned 0.69% of Planet Payment worth $1,083,000 as of its most recent filing with the SEC.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with's FREE daily email newsletter.