Smith Asset Management Group LP Buys Shares of 59,590 SP Plus Corporation (SP)
Smith Asset Management Group LP bought a new stake in shares of SP Plus Corporation (NASDAQ:SP) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 59,590 shares of the business services provider’s stock, valued at approximately $2,354,000. Smith Asset Management Group LP owned about 0.27% of SP Plus Corporation at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Prudential Financial Inc. purchased a new stake in shares of SP Plus Corporation during the 1st quarter valued at $400,000. OxFORD Asset Management LLP purchased a new stake in shares of SP Plus Corporation during the 2nd quarter valued at $2,185,000. Systematic Financial Management LP purchased a new stake in shares of SP Plus Corporation during the 2nd quarter valued at $1,748,000. Martingale Asset Management L P increased its position in shares of SP Plus Corporation by 9.4% during the 2nd quarter. Martingale Asset Management L P now owns 112,834 shares of the business services provider’s stock valued at $3,448,000 after purchasing an additional 9,717 shares during the last quarter. Finally, AlphaOne Investment Services LLC increased its position in shares of SP Plus Corporation by 44.3% during the 2nd quarter. AlphaOne Investment Services LLC now owns 109,453 shares of the business services provider’s stock valued at $3,343,000 after purchasing an additional 33,581 shares during the last quarter. 95.19% of the stock is owned by hedge funds and other institutional investors.
In other SP Plus Corporation news, major shareholder Walter S. Woltosz sold 18,500 shares of the firm’s 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 filing with the Securities & Exchange Commission, which is available at this link. 1.40% of the stock is owned by company insiders.
Shares of SP Plus Corporation (NASDAQ SP) opened at $36.85 on Friday. SP Plus Corporation has a twelve month low of $25.00 and a twelve month high of $41.25. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $820.88, a PE ratio of 19.92, a P/E/G ratio of 2.17 and a beta of 1.01.
SP Plus Corporation (NASDAQ:SP) last issued its earnings results on Wednesday, November 1st. The business services provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.42 by $0.08. SP Plus Corporation had a return on equity of 14.29% and a net margin of 2.64%. The business had revenue of $392.70 million during the quarter, compared to the consensus estimate of $228.10 million. analysts forecast that SP Plus Corporation will post 1.68 earnings per share for the current year.
Several equities research analysts recently weighed in on the company. Zacks Investment Research raised SP Plus Corporation from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Saturday, November 4th. BidaskClub lowered SP Plus Corporation from a “buy” rating to a “hold” rating in a report on Saturday, November 4th. Finally, ValuEngine raised SP Plus Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st.
About SP Plus Corporation
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.
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