American International Group Inc. increased its position in Planet Payment, Inc. (NASDAQ:PLPM) by 7.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 26,075 shares of the credit services provider’s stock after buying an additional 1,729 shares during the period. American International Group Inc.’s holdings in Planet Payment were worth $104,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of PLPM. Thomson Horstmann & Bryant Inc. boosted its stake in shares of Planet Payment by 4.5% in the first quarter. Thomson Horstmann & Bryant Inc. now owns 1,752,015 shares of the credit services provider’s stock worth $6,973,000 after buying an additional 75,920 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake 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 worth $3,703,000 after buying an additional 38,832 shares in the last quarter. State Street Corp boosted its stake 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 worth $2,272,000 after buying an additional 12,575 shares in the last quarter. Russell Investments Group Ltd. boosted its stake 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 in the last quarter. Finally, Value Holdings Management CO. LLC boosted its stake 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 in the last quarter. 53.16% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Planet Payment, Inc. (NASDAQ:PLPM) traded down 0.88% during mid-day trading on Friday, hitting $3.38. The stock had a trading volume of 12,152 shares. The stock has a market cap of $168.52 million, a P/E ratio of 7.44 and a beta of 0.66. Planet Payment, Inc. has a 52-week low of $2.75 and a 52-week high of $4.64. The company’s 50 day moving average is $3.36 and its 200-day moving average is $3.81.

Planet Payment (NASDAQ:PLPM) last announced its earnings results on Wednesday, August 9th. The credit services provider reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.01. Planet Payment had a net margin of 48.14% and a return on equity of 28.30%. The company had revenue of $12.50 million during the quarter, compared to the consensus estimate of $13.56 million. Planet Payment’s revenue for the quarter was down 4.6% on a year-over-year basis. On average, equities research analysts anticipate that Planet Payment, Inc. will post $0.17 earnings per share for the current fiscal 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.

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

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