SpiderRock Advisors LLC purchased a new position in Planet Payment, Inc. (NASDAQ:PLPM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 33,475 shares of the credit services provider’s stock, valued at approximately $111,000. SpiderRock Advisors LLC owned 0.07% of Planet Payment as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the stock. Acrospire Investment Management LLC boosted its position in shares of Planet Payment by 36.6% in the first quarter. Acrospire Investment Management LLC now owns 25,128 shares of the credit services provider’s stock worth $100,000 after buying an additional 6,733 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Planet Payment by 2.7% in the first quarter. Bank of New York Mellon Corp now owns 134,519 shares of the credit services provider’s stock worth $536,000 after buying an additional 3,511 shares during the last quarter. Value Holdings Management CO. LLC boosted its position in shares of Planet Payment by 51.0% in the first quarter. Value Holdings Management CO. LLC now owns 263,873 shares of the credit services provider’s stock worth $3,570,000 after buying an additional 89,157 shares during the last quarter. Geneva Advisors LLC purchased a new position in shares of Planet Payment during the first quarter worth approximately $559,000. Finally, Russell Investments Group Ltd. boosted its position in shares of Planet Payment by 7.2% in the first quarter. Russell Investments Group Ltd. now owns 363,759 shares of the credit services provider’s stock worth $1,448,000 after buying an additional 24,380 shares during the last quarter. 53.80% of the stock is owned by institutional investors and hedge funds.
Shares of Planet Payment, Inc. (NASDAQ PLPM) traded up 2.14% during trading on Wednesday, hitting $3.34. The company’s stock had a trading volume of 138,803 shares. The company has a 50-day moving average price of $3.52 and a 200-day moving average price of $3.97. Planet Payment, Inc. has a one year low of $2.75 and a one year high of $4.97. The stock has a market cap of $163.38 million, a PE ratio of 7.57 and a beta of 0.66.
Planet Payment (NASDAQ:PLPM) last issued its quarterly earnings results on Tuesday, May 9th. The credit services provider reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.01. The business had revenue of $12.73 million during the quarter, compared to analyst estimates of $13.76 million. Planet Payment had a net margin of 46.33% and a return on equity of 28.86%. The company’s revenue was down 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.03 earnings per share. Equities analysts predict that Planet Payment, Inc. will post $0.17 EPS for the current fiscal year.
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Separately, Zacks Investment Research cut Planet Payment from a “buy” rating to a “hold” rating in a report on Wednesday, May 10th.
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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