SP Plus Corp (SP) Stake Boosted by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. lifted its stake in shares of SP Plus Corp (NASDAQ:SP) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 157,076 shares of the business services provider’s stock after purchasing an additional 1,607 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in SP Plus were worth $5,828,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of SP. Atlantic Trust Group LLC acquired a new stake in SP Plus in the 3rd quarter valued at about $1,191,000. Public Employees Retirement System of Ohio acquired a new stake in SP Plus in the 3rd quarter valued at about $337,000. GSA Capital Partners LLP grew its stake in SP Plus by 30.1% in the 3rd quarter. GSA Capital Partners LLP now owns 20,507 shares of the business services provider’s stock valued at $810,000 after acquiring an additional 4,747 shares during the last quarter. Algert Global LLC grew its stake in SP Plus by 14.6% in the 3rd quarter. Algert Global LLC now owns 74,000 shares of the business services provider’s stock valued at $2,923,000 after acquiring an additional 9,430 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in SP Plus in the 3rd quarter valued at about $366,000. 96.52% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO G Marc Baumann sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $38.00, for a total value of $38,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Thomas L. Hagerman sold 833 shares of the firm’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $36.20, for a total transaction of $30,154.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,333 shares of company stock worth $354,280. Insiders own 1.40% of the company’s stock.
SP Plus (NASDAQ:SP) last announced its quarterly earnings data on Wednesday, February 21st. The business services provider reported $0.40 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.40. The business had revenue of $392.40 million for the quarter, compared to analyst estimates of $223.40 million. SP Plus had a net margin of 2.55% and a return on equity of 12.87%. equities research analysts predict that SP Plus Corp will post 2.21 earnings per share for the current year.
A number of research analysts have issued reports on SP shares. BidaskClub upgraded shares of SP Plus from a “sell” rating to a “hold” rating in a report on Friday, January 19th. Zacks Investment Research lowered shares of SP Plus from a “buy” rating to a “hold” rating in a report on Friday, January 5th. Finally, Barrington Research restated an “outperform” rating and issued a $42.00 target price (up from $39.00) on shares of SP Plus in a report on Monday, March 5th.
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SP Plus 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.
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