Goldman Sachs Group Inc. boosted its stake in Planet Payment, Inc. (NASDAQ:PLPM) by 40.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 48,458 shares of the credit services provider’s stock after buying an additional 14,066 shares during the period. Goldman Sachs Group Inc. owned about 0.10% of Planet Payment worth $193,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PLPM. State Street Corp boosted its stake 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 period. P.A.W. Capital Corp raised its position in Planet Payment by 11.8% in the first quarter. P.A.W. Capital Corp now owns 475,000 shares of the credit services provider’s stock worth $1,891,000 after buying an additional 50,000 shares in the last quarter. Isthmus Partners LLC bought a new position in Planet Payment during the first quarter worth approximately $886,000. Dimensional Fund Advisors LP raised 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 worth $3,823,000 after buying an additional 52,766 shares in the last quarter. Finally, Wellington Management Group LLP raised 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 worth $6,221,000 after buying an additional 4,500 shares in the last quarter. Institutional investors own 53.97% of the company’s stock.

Planet Payment, Inc. (PLPM) traded up 0.6463% during trading on Wednesday, hitting $3.9554. The company had a trading volume of 148,724 shares. The stock has a market capitalization of $194.76 million, a price-to-earnings ratio of 8.7123 and a beta of 0.66. The company’s 50 day moving average price is $3.46 and its 200-day moving average price is $3.76. Planet Payment, Inc. has a 1-year low of $2.75 and a 1-year high of $4.64.

Planet Payment (NASDAQ:PLPM) last announced its earnings results on Wednesday, August 9th. The credit services provider reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. The business had revenue of $12.50 million for the quarter, compared to analysts’ expectations of $13.56 million. Planet Payment had a return on equity of 25.86% and a net margin of 48.14%. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. On average, analysts expect that Planet Payment, Inc. will post $0.17 EPS for the current year.

COPYRIGHT VIOLATION WARNING: “Goldman Sachs Group Inc. Raises Stake in Planet Payment, Inc. (PLPM)” was published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this story on another site, it was illegally copied and republished in violation of U.S. & international trademark and copyright legislation. The correct version of this story can be viewed at https://www.thecerbatgem.com/2017/08/30/goldman-sachs-group-inc-raises-stake-in-planet-payment-inc-plpm.html.

Separately, Zacks Investment Research lowered Planet Payment from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th.

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.

Institutional Ownership by Quarter for Planet Payment (NASDAQ:PLPM)

Receive News & Stock Ratings for Planet Payment Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Payment Inc. and related stocks with our FREE daily email newsletter.