TIAA CREF Investment Management LLC decreased its holdings in Planet Payment, Inc. (NASDAQ:PLPM) by 9.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 115,557 shares of the credit services provider’s stock after selling 12,010 shares during the quarter. TIAA CREF Investment Management LLC owned 0.24% of Planet Payment worth $381,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. American International Group Inc. grew its position in Planet Payment by 7.1% during the 1st quarter. American International Group Inc. now owns 26,075 shares of the credit services provider’s stock worth $104,000 after purchasing an additional 1,729 shares in the last quarter. Alliancebernstein L.P. purchased a new position in Planet Payment during the 2nd quarter worth approximately $102,000. Rhumbline Advisers grew its position in Planet Payment by 10.4% during the 2nd quarter. Rhumbline Advisers now owns 45,355 shares of the credit services provider’s stock worth $150,000 after purchasing an additional 4,280 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Planet Payment by 40.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 48,458 shares of the credit services provider’s stock worth $193,000 after purchasing an additional 14,066 shares in the last quarter. Finally, Legato Capital Management LLC grew its position in Planet Payment by 890.5% during the 2nd quarter. Legato Capital Management LLC now owns 76,260 shares of the credit services provider’s stock worth $252,000 after purchasing an additional 68,561 shares in the last quarter. Hedge funds and other institutional investors own 46.14% of the company’s stock.

Planet Payment, Inc. (PLPM) opened at $4.49 on Wednesday. Planet Payment, Inc. has a fifty-two week low of $3.10 and a fifty-two week high of $4.64. The company has a market cap of $224.55, a price-to-earnings ratio of 26.41 and a beta of 0.63.

PLPM has been the topic of several research analyst reports. Northland Securities reiterated a “buy” rating and set a $4.50 price objective on shares of Planet Payment in a research report on Thursday, October 12th. Zacks Investment Research upgraded shares of Planet Payment from a “hold” rating to a “buy” rating and set a $5.00 price target on the stock in a report on Tuesday, October 31st. Lake Street Capital cut shares of Planet Payment from a “buy” rating to a “hold” rating and lowered their price target for the company from $5.00 to $4.50 in a report on Friday, October 27th. Craig Hallum cut shares of Planet Payment from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Finally, Barrington Research cut shares of Planet Payment from an “outperform” rating to an “underperform” rating in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $4.67.

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Planet Payment 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.

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

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