SP Plus Corp. (SP) Upgraded by Zacks Investment Research to “Hold”
According to Zacks, “SP Plus Corporation provides professional parking, ground transportation, facility maintenance, security and event logistics services to property owners and managers in all markets of the real estate industry. The Company also provides a range of ancillary services, such as airport shuttle operations, taxi and livery dispatch services and municipal meter revenue collection and enforcement services. Its clients include owners of office building complexes, shopping centers, sports complexes, hotels, hospitals, and various airports. SP Plus Corporation, formerly known as Standard Parking Corporation, is based in United States. “
Shares of SP Plus Corp. (NASDAQ:SP) traded down 1.49% during midday trading on Friday, reaching $25.19. The company had a trading volume of 19,310 shares. SP Plus Corp. has a 52 week low of $20.41 and a 52 week high of $26.39. The firm has a market capitalization of $562.19 million, a price-to-earnings ratio of 44.19 and a beta of 0.95. The stock has a 50-day moving average of $25.19 and a 200 day moving average of $23.63.
SP Plus Corp. (NASDAQ:SP) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.34 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.34. SP Plus Corp. had a return on equity of 8.88% and a net margin of 0.80%. On average, analysts anticipate that SP Plus Corp. will post $1.16 earnings per share for the current year.
In other news, Director James A. Wilhelm sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $24.61, for a total transaction of $123,050.00. Following the transaction, the director now owns 21,848 shares of the company’s stock, valued at $537,679.28. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James A. Wilhelm sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $25.50, for a total value of $306,000.00. Following the transaction, the director now directly owns 9,848 shares in the company, valued at approximately $251,124. The disclosure for this sale can be found here. Company insiders own 2.30% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ngam Advisors L.P. boosted its position in SP Plus Corp. by 10.8% in the first quarter. Ngam Advisors L.P. now owns 20,603 shares of the company’s stock worth $496,000 after buying an additional 2,012 shares in the last quarter. State Street Corp boosted its position in SP Plus Corp. by 1.2% in the first quarter. State Street Corp now owns 272,368 shares of the company’s stock worth $6,551,000 after buying an additional 3,247 shares in the last quarter. AXA boosted its position in SP Plus Corp. by 164.3% in the first quarter. AXA now owns 57,681 shares of the company’s stock worth $1,388,000 after buying an additional 35,854 shares in the last quarter. Geode Capital Management LLC boosted its position in SP Plus Corp. by 9.5% in the first quarter. Geode Capital Management LLC now owns 126,193 shares of the company’s stock worth $3,036,000 after buying an additional 10,923 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in SP Plus Corp. by 6.8% in the first quarter. Wellington Management Group LLP now owns 2,714,640 shares of the company’s stock worth $65,314,000 after buying an additional 172,400 shares in the last quarter. 75.12% of the stock is currently owned by hedge funds and other institutional investors.
About SP Plus Corp.
SP Plus Corporation provides parking management, ground transportation and other ancillary services to commercial, institutional and municipal clients in the United States, Puerto Rico and Canada. The Company operates through six segments: Region One (North reporting unit), Region Two (South reporting unit), Region Three (New York Metropolitan tri-state area of New York, New Jersey and Connecticut reporting unit), Region Four (Airport transportation operations around the nation reporting unit) and Region Five (the United States Parking reporting unit and event planning and transportation services reporting unit).
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