California Public Employees Retirement System Maintains Stake in Planet Payment, Inc. (PLPM)
California Public Employees Retirement System held its position in shares of Planet Payment, Inc. (NASDAQ:PLPM) during the first quarter, according to its most recent filing with the SEC. The firm owned 58,900 shares of the credit services provider’s stock at the end of the first quarter. California Public Employees Retirement System owned approximately 0.12% of Planet Payment worth $234,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Acrospire Investment Management LLC boosted its stake in 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. American International Group Inc. boosted its stake in Planet Payment by 7.1% in the first quarter. American International Group Inc. now owns 26,075 shares of the credit services provider’s stock worth $104,000 after buying an additional 1,729 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Planet Payment during the first quarter worth approximately $183,000. Spark Investment Management LLC boosted its stake in Planet Payment by 417.0% in the first quarter. Spark Investment Management LLC now owns 79,100 shares of the credit services provider’s stock worth $314,000 after buying an additional 63,800 shares during the last quarter. Finally, Teachers Advisors LLC boosted its stake in Planet Payment by 25.6% in the fourth quarter. Teachers Advisors LLC now owns 124,100 shares of the credit services provider’s stock worth $506,000 after buying an additional 25,257 shares during the last quarter. Hedge funds and other institutional investors own 53.97% of the company’s stock.
Planet Payment, Inc. (PLPM) traded up 2.83% during midday trading on Thursday, reaching $4.00. 154,372 shares of the company’s stock were exchanged. The firm has a market capitalization of $196.95 million, a price-to-earnings ratio of 8.81 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 firm’s 50 day moving average is $3.46 and its 200 day moving average is $3.76.
Planet Payment (NASDAQ:PLPM) last posted its quarterly 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. The business had revenue of $12.50 million during 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%. Planet Payment’s quarterly revenue was down 4.6% compared to the same quarter last year. On average, equities analysts anticipate that Planet Payment, Inc. will post $0.17 earnings per share for the current year.
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Separately, Zacks Investment Research cut shares of Planet Payment from a “hold” rating to a “sell” rating in a research note on Friday, August 11th.
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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