Planet Payment Inc. (PLPM) Trading 5% Higher
Planet Payment Inc. (NASDAQ:PLPM) traded up 5% on Monday . The company traded as high as $3.82 and last traded at $3.81, with a volume of 593,157 shares changing hands. The stock had previously closed at $3.63.
A number of research analysts have commented on PLPM shares. Ladenburg Thalmann started coverage on Planet Payment in a research report on Monday, July 11th. They set a “buy” rating and a $6.20 price target for the company. Lake Street Capital upped their price target on Planet Payment from $4.25 to $4.50 and gave the company a “buy” rating in a research report on Thursday, May 5th. Zacks Investment Research lowered Planet Payment from a “buy” rating to a “hold” rating in a research report on Wednesday, July 6th. Finally, Northland Securities started coverage on Planet Payment in a research report on Wednesday, April 13th. They set an “outperform” rating for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Planet Payment has an average rating of “Buy” and a consensus price target of $5.15.
The stock has a market cap of $184.02 million and a PE ratio of 23.04. The firm has a 50-day moving average price of $4.31 and a 200-day moving average price of $3.75.
In other news, Director Jonathan Kaiden sold 15,880 shares of the firm’s stock in a transaction dated Friday, May 20th. The stock was sold at an average price of $4.51, for a total transaction of $71,618.80. Following the completion of the transaction, the director now owns 105,010 shares in the company, valued at $473,595.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
A hedge fund recently raised its stake in Planet Payment stock. Dimensional Fund Advisors LP boosted its position in shares of Planet Payment Inc. (NASDAQ:PLPM) by 77.6% during the fourth quarter, according to its most recent disclosure 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 at the end of the most recent reporting period.
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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