Planet Payment Inc. (NASDAQ:PLPM)’s share price rose 4.4% on Monday . The company traded as high as $3.80 and last traded at $3.79, with a volume of 222,400 shares traded. The stock had previously closed at $3.63.

PLPM has been the subject of a number of research reports. Zacks Investment Research lowered shares of Planet Payment from a “buy” rating to a “hold” rating in a research report on Wednesday, July 6th. Ladenburg Thalmann assumed coverage on shares of Planet Payment in a research report on Monday, July 11th. They issued a “buy” rating and a $6.20 price objective for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Planet Payment has an average rating of “Buy” and a consensus price target of $5.15.

The company’s 50-day moving average price is $4.05 and its 200-day moving average price is $3.86. The stock has a market capitalization of $187.99 million and a P/E ratio of 23.54.

A hedge fund recently raised its stake in Planet Payment stock. Dimensional Fund Advisors LP boosted its stake in 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 approximately 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.

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