Renaissance Technologies LLC Purchases 32,800 Shares of Planet Payment, Inc. (NASDAQ:PLPM)
Renaissance Technologies LLC boosted its stake in Planet Payment, Inc. (NASDAQ:PLPM) by 4.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 834,400 shares of the credit services provider’s stock after buying an additional 32,800 shares during the period. Renaissance Technologies LLC’s holdings in Planet Payment were worth $3,321,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Thomson Horstmann & Bryant Inc. boosted its position in Planet Payment by 4.5% in the first quarter. Thomson Horstmann & Bryant Inc. now owns 1,752,015 shares of the credit services provider’s stock valued at $6,973,000 after buying an additional 75,920 shares during the last quarter. Wellington Management Group LLP boosted its position in Planet Payment by 0.3% in the first quarter. Wellington Management Group LLP now owns 1,563,041 shares of the credit services provider’s stock valued at $6,221,000 after buying an additional 4,500 shares during the last quarter. S Squared Technology LLC purchased a new position in Planet Payment during the first quarter valued at $4,061,000. Dimensional Fund Advisors LP boosted its position in Planet Payment by 5.8% in the first quarter. Dimensional Fund Advisors LP now owns 960,445 shares of the credit services provider’s stock valued at $3,823,000 after buying an additional 52,766 shares during the last quarter. Finally, State Street Corp boosted its position in Planet Payment by 2.3% in the fourth quarter. State Street Corp now owns 556,816 shares of the credit services provider’s stock valued at $2,272,000 after buying an additional 12,575 shares during the last quarter. Hedge funds and other institutional investors own 53.16% of the company’s stock.
Shares of Planet Payment, Inc. (NASDAQ PLPM) traded down 0.29% on Friday, hitting $3.40. The company had a trading volume of 27,242 shares. The company has a 50 day moving average price of $3.36 and a 200 day moving average price of $3.81. Planet Payment, Inc. has a 1-year low of $2.75 and a 1-year high of $4.64. The firm has a market capitalization of $169.51 million, a price-to-earnings ratio of 7.49 and a beta of 0.66.
Planet Payment (NASDAQ:PLPM) last announced its earnings results on Wednesday, August 9th. The credit services provider reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The business had revenue of $12.50 million for the quarter, compared to analyst estimates of $13.56 million. Planet Payment had a return on equity of 28.30% and a net margin of 48.14%. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. On average, equities analysts forecast that Planet Payment, Inc. will post $0.17 earnings per share for the current fiscal year.
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Separately, Zacks Investment Research upgraded Planet Payment from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th.
About Planet Payment
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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