Is Planet Payment Inc (PLPM) A Good Stock To Buy?

Seeing as Planet Payment Inc (NASDAQ:PLPM) has faced a decline in interest from hedge fund managers, it’s easy to see that there were a few hedge funds that elected to cut their positions entirely heading into Q4. At the top of the heap, Israel Englander’s Millennium Management got rid of the biggest position of the 700 funds followed by Insider Monkey, totaling close to $0.1 million in stock, and Ken Griffin’s Citadel Investment Group was right behind this move, as the fund dropped about $0.1 million worth of shares.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Planet Payment Inc (NASDAQ:PLPM) but similarly valued. These stocks are Graham Corporation (NYSEAMEX:GHM), Veritex Holdings Inc (NASDAQ:VBTX), Alliance One International, Inc. (NYSE:AOI), and Southern Missouri Bancorp, Inc. (NASDAQ:SMBC). This group of stocks’ market caps resemble PLPM’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
GHM 8 22646 1
VBTX 6 26307 -1
AOI 5 24899 -2
SMBC 2 3732 -1

As you can see these stocks had an average of 5 hedge funds with bullish positions and the average amount invested in these stocks was $19 million. That figure was $12 million in PLPM’s case. Graham Corporation (NYSEAMEX:GHM) is the most popular stock in this table. On the other hand Southern Missouri Bancorp, Inc. (NASDAQ:SMBC) is the least popular one with only 2 bullish hedge fund positions. Compared to these stocks Planet Payment Inc (NASDAQ:PLPM) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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