Planet Payment Inc. (PLPM) Shares Down 4.6%
Planet Payment Inc. (NASDAQ:PLPM) shares were down 4.6% during mid-day trading on Monday . The stock traded as low as $3.74 and last traded at $3.75, with a volume of 188,925 shares changing hands. The stock had previously closed at $3.93.
Several research analysts have issued reports on PLPM shares. Zacks Investment Research cut Planet Payment from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. 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 report on Thursday, May 5th. Finally, Ladenburg Thalmann started coverage on Planet Payment in a report on Monday, July 11th. They issued a “buy” rating and a $6.20 price target on the stock. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $5.15.
The stock’s 50-day moving average is $4.11 and its 200-day moving average is $3.83. The company has a market cap of $180.55 million and a P/E ratio of 22.61.
A hedge fund recently raised its stake in Planet Payment stock. Dimensional Fund Advisors LP raised its stake in shares of Planet Payment Inc. (NASDAQ:PLPM) by 77.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 355,027 shares of the company’s stock after buying an additional 155,137 shares during the period. Dimensional Fund Advisors LP owned about 0.69% of Planet Payment worth $1,083,000 at the end of the most recent quarter.
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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