SP Plus Corporation (SP) Position Trimmed by Engineers Gate Manager LP
Engineers Gate Manager LP lessened its holdings in shares of SP Plus Corporation (NASDAQ:SP) by 16.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,453 shares of the business services provider’s stock after selling 3,758 shares during the period. Engineers Gate Manager LP owned approximately 0.08% of SP Plus worth $729,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. US Bancorp DE boosted its position in SP Plus by 3.1% during the second quarter. US Bancorp DE now owns 3,329 shares of the business services provider’s stock worth $102,000 after purchasing an additional 100 shares in the last quarter. Legal & General Group Plc boosted its position in SP Plus by 5.0% during the second quarter. Legal & General Group Plc now owns 4,205 shares of the business services provider’s stock worth $129,000 after purchasing an additional 200 shares in the last quarter. SG Americas Securities LLC purchased a new stake in SP Plus during the third quarter worth $141,000. Acadian Asset Management LLC boosted its position in SP Plus by 678.9% during the second quarter. Acadian Asset Management LLC now owns 5,748 shares of the business services provider’s stock worth $176,000 after purchasing an additional 5,010 shares in the last quarter. Finally, California Public Employees Retirement System purchased a new stake in SP Plus during the second quarter worth $214,000. 96.57% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have commented on SP shares. BidaskClub upgraded SP Plus from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 25th. ValuEngine upgraded SP Plus from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Zacks Investment Research downgraded SP Plus from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th.
Shares of SP Plus Corporation (SP) opened at $38.40 on Friday. 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 12-month low of $27.05 and a 12-month high of $41.25. The stock has a market capitalization of $864.79, a price-to-earnings ratio of 20.98, a PEG ratio of 2.26 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 (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.08. SP Plus had a return on equity of 14.29% and a net margin of 2.64%. The business had revenue of $392.70 million for the quarter, compared to the consensus estimate of $228.10 million. sell-side analysts anticipate that SP Plus Corporation will post 1.7 EPS for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This story was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this story on another website, it was illegally stolen and republished in violation of United States and international copyright & trademark laws. The original version of this story can be viewed at https://www.thecerbatgem.com/2017/12/15/sp-plus-corporation-sp-position-trimmed-by-engineers-gate-manager-lp.html.
SP Plus Company Profile
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.
Receive News & Stock Ratings for SP Plus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SP Plus and related stocks with our FREE daily email newsletter.