Planet Payment (PLPM) Receives “Hold” Rating from Northland Securities
Planet Payment (NASDAQ:PLPM)‘s stock had its “hold” rating reaffirmed by stock analysts at Northland Securities in a research report issued to clients and investors on Thursday.
Other research analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Planet Payment from a “hold” rating to a “buy” rating and set a $5.00 price objective on the stock in a research note on Tuesday, October 31st. Craig Hallum lowered shares of Planet Payment from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. Lake Street Capital lowered shares of Planet Payment from a “buy” rating to a “hold” rating and dropped their price objective for the company from $5.00 to $4.50 in a research note on Friday, October 27th. Finally, Barrington Research lowered shares of Planet Payment from an “outperform” rating to an “underperform” rating in a research note on Friday, October 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $4.67.
Planet Payment (NASDAQ PLPM) opened at $4.49 on Thursday. The firm has a market cap of $224.55, a P/E ratio of 26.41 and a beta of 0.62. Planet Payment has a 12 month low of $3.10 and a 12 month high of $4.50.
A number of institutional investors have recently added to or reduced their stakes in the business. Algert Global LLC increased its stake in Planet Payment by 191.2% in the 3rd quarter. Algert Global LLC now owns 160,100 shares of the credit services provider’s stock valued at $687,000 after buying an additional 105,126 shares during the period. Highbridge Capital Management LLC acquired a new position in Planet Payment in the 3rd quarter valued at approximately $120,000. Discovery Group I LLC increased its stake in shares of Planet Payment by 28.7% during the 3rd quarter. Discovery Group I LLC now owns 4,770,577 shares of the credit services provider’s stock worth $20,466,000 after purchasing an additional 1,063,590 shares during the last quarter. OxFORD Asset Management LLP increased its stake in shares of Planet Payment by 16.5% during the 3rd quarter. OxFORD Asset Management LLP now owns 335,050 shares of the credit services provider’s stock worth $1,444,000 after purchasing an additional 47,468 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Planet Payment by 6.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,198,893 shares of the credit services provider’s stock worth $5,143,000 after purchasing an additional 70,407 shares during the last quarter. Hedge funds and other institutional investors own 52.97% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “Planet Payment (PLPM) Receives “Hold” Rating from Northland Securities” was originally reported by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of United States and international trademark and copyright legislation. The original version of this story can be accessed at https://theolympiareport.com/2017/12/21/planet-payment-plpm-receives-hold-rating-from-northland-securities.html.
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.
Receive News & Ratings for Planet Payment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Planet Payment and related companies with MarketBeat.com's FREE daily email newsletter.