JPMorgan Chase & Co. cut its position in shares of Planet Payment, Inc. (NASDAQ:PLPM) by 14.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 217,003 shares of the credit services provider’s stock after selling 37,550 shares during the period. JPMorgan Chase & Co. owned 0.45% of Planet Payment worth $864,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. Russell Investments Group Ltd. bought a new position in shares of Planet Payment during the fourth quarter valued at about $1,398,000. State Street Corp boosted its position in shares of 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. Dimensional Fund Advisors LP boosted its position in shares of Planet Payment by 4.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 907,679 shares of the credit services provider’s stock valued at $3,703,000 after buying an additional 38,832 shares during the last quarter. Two Sigma Investments LP boosted its position in shares of Planet Payment by 115.5% in the fourth quarter. Two Sigma Investments LP now owns 78,413 shares of the credit services provider’s stock valued at $320,000 after buying an additional 42,025 shares during the last quarter. Finally, Teachers Advisors LLC boosted its position in shares of Planet Payment by 25.6% in the fourth quarter. Teachers Advisors LLC now owns 124,100 shares of the credit services provider’s stock valued at $506,000 after buying an additional 25,257 shares during the last quarter. 53.60% of the stock is owned by hedge funds and other institutional investors.
Shares of Planet Payment, Inc. (NASDAQ PLPM) traded down 0.27% during mid-day trading on Friday, reaching $3.69. The company had a trading volume of 166,733 shares. The company has a 50 day moving average price of $3.42 and a 200 day moving average price of $3.78. Planet Payment, Inc. has a one year low of $2.75 and a one year high of $4.64. The company has a market capitalization of $181.69 million, a price-to-earnings ratio of 8.13 and a beta of 0.66.
Planet Payment (NASDAQ:PLPM) last issued its earnings results on Wednesday, August 9th. The credit services provider reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. Planet Payment had a return on equity of 25.86% and a net margin of 48.14%. The business had revenue of $12.50 million for the quarter, compared to the consensus estimate of $13.56 million. Planet Payment’s quarterly revenue was down 4.6% on a year-over-year basis. On average, analysts anticipate that Planet Payment, Inc. will post $0.17 EPS for the current year.
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Separately, Zacks Investment Research raised 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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