Two Sigma Investments LP increased its position in Planet Payment Inc (NASDAQ:PLPM) by 115.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 78,413 shares of the credit services provider’s stock after buying an additional 42,025 shares during the period. Two Sigma Investments LP owned approximately 0.16% of Planet Payment worth $320,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the company. William Blair Investment Management LLC acquired a new stake in shares of Planet Payment during the fourth quarter worth $3,367,000. Cortina Asset Management LLC boosted its stake in shares of Planet Payment by 28.9% in the fourth quarter. Cortina Asset Management LLC now owns 2,057,778 shares of the credit services provider’s stock worth $8,396,000 after buying an additional 461,939 shares during the period. Discovery Group I LLC acquired a new stake in shares of Planet Payment during the fourth quarter worth $1,539,000. Russell Investments Group Ltd. acquired a new stake in shares of Planet Payment during the fourth quarter worth $1,398,000. Finally, Royce & Associates LP acquired a new stake in shares of Planet Payment during the fourth quarter worth $1,130,000. Institutional investors and hedge funds own 51.47% of the company’s stock.
Planet Payment Inc (NASDAQ:PLPM) traded up 0.73% during midday trading on Thursday, hitting $4.14. 32,300 shares of the stock were exchanged. The firm’s 50 day moving average price is $3.96 and its 200 day moving average price is $3.96. The company has a market cap of $201.55 million, a PE ratio of 9.41 and a beta of 0.70. Planet Payment Inc has a 12 month low of $2.75 and a 12 month high of $4.97.
A number of research firms have recently commented on PLPM. Zacks Investment Research upgraded shares of Planet Payment from a “hold” rating to a “buy” rating and set a $4.25 price target on the stock in a report on Saturday, March 11th. Feltl & Co. reiterated a “buy” rating on shares of Planet Payment in a report on Thursday, January 12th.
Planet Payment Company Profile
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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