SP Plus Corporation (SP) Holdings Lifted by State Street Corp

State Street Corp lifted its holdings in SP Plus Corporation (NASDAQ:SP) by 9.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 349,368 shares of the business services provider’s stock after purchasing an additional 30,246 shares during the quarter. State Street Corp owned 1.57% of SP Plus worth $10,670,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of SP. US Bancorp DE increased its holdings in shares of SP Plus by 3.1% in the second quarter. US Bancorp DE now owns 3,329 shares of the business services provider’s stock valued at $102,000 after purchasing an additional 100 shares during the last quarter. Legal & General Group Plc grew its stake in shares of SP Plus by 5.0% in the second quarter. Legal & General Group Plc now owns 4,205 shares of the business services provider’s stock valued at $129,000 after acquiring an additional 200 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of SP Plus by 678.9% in the second quarter. Acadian Asset Management LLC now owns 5,748 shares of the business services provider’s stock valued at $176,000 after acquiring an additional 5,010 shares in the last quarter. California Public Employees Retirement System acquired a new position in shares of SP Plus in the second quarter valued at about $214,000. Finally, Zacks Investment Management acquired a new position in shares of SP Plus in the second quarter valued at about $301,000. Institutional investors and hedge funds own 96.57% of the company’s stock.

SP Plus Corporation (SP) opened at $39.35 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.82 and a quick ratio of 0.82. SP Plus Corporation has a twelve month low of $27.05 and a twelve month high of $41.25. The stock has a market capitalization of $887.31, a price-to-earnings ratio of 21.53, a P/E/G ratio of 2.32 and a beta of 1.00.

SP Plus (NASDAQ:SP) last issued its quarterly earnings data on Wednesday, November 1st. The business services provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.08. The business had revenue of $392.70 million for the quarter, compared to analysts’ expectations of $228.10 million. SP Plus had a return on equity of 14.29% and a net margin of 2.64%. analysts predict that SP Plus Corporation will post 1.7 earnings per share for the current year.

Several equities research analysts recently weighed in on the stock. ValuEngine raised shares of SP Plus from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub cut shares of SP Plus from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Finally, Zacks Investment Research raised shares of SP Plus from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a report on Saturday, November 4th.

In related news, major shareholder Walter S. Woltosz sold 18,500 shares of SP Plus stock in a transaction dated Saturday, October 28th. The stock was sold at an average price of $16.37, for a total value of $302,845.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.40% of the company’s stock.

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About SP Plus

SP Plus Corporation (SP Plus) is a provider of parking management, ground transportation and other ancillary services to commercial, institutional and municipal clients in the United States, Puerto Rico and Canada. The Company’s segments include Region One (Urban), Region Two (Airport transportation), Region Three and Other.

Institutional Ownership by Quarter for SP Plus (NASDAQ:SP)

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