StockNews.com Begins Coverage on SP Plus (NASDAQ:SP)

StockNews.com began coverage on shares of SP Plus (NASDAQ:SPFree Report) in a research note published on Saturday. The brokerage issued a hold rating on the business services provider’s stock.

Separately, Barrington Research reiterated a market perform rating on shares of SP Plus in a research note on Friday, October 20th.

Read Our Latest Report on SP Plus

SP Plus Stock Down 0.1 %

Shares of NASDAQ:SP opened at $51.33 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.37. The stock has a market cap of $1.01 billion, a P/E ratio of 29.50 and a beta of 1.24. The business’s 50 day moving average is $51.39 and its 200 day moving average is $46.58. SP Plus has a 52-week low of $31.52 and a 52-week high of $52.40.

Hedge Funds Weigh In On SP Plus

Several institutional investors have recently modified their holdings of SP. Alpine Associates Management Inc. acquired a new position in SP Plus in the fourth quarter valued at $51,204,000. Tokio Marine Asset Management Co. Ltd. purchased a new stake in shares of SP Plus in the fourth quarter valued at about $15,391,000. UBS Group AG raised its holdings in shares of SP Plus by 2,311.1% in the fourth quarter. UBS Group AG now owns 218,640 shares of the business services provider’s stock valued at $11,205,000 after buying an additional 209,572 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of SP Plus in the fourth quarter valued at about $7,102,000. Finally, Epoch Investment Partners Inc. purchased a new stake in shares of SP Plus in the second quarter valued at about $3,875,000. Institutional investors and hedge funds own 96.63% of the company’s stock.

About SP Plus

(Get Free Report)

SP Plus Corporation provides mobility solutions, parking management, ground transportation, baggage, and other ancillary services in North America. The company operates in Commercial and Aviation segments. It provides on-site parking management, valet parking, ground transportation, facility maintenance, event logistics, remote airline check-in, security, municipal meter revenue collection and enforcement, and consulting services, as well as shuttle bus vehicles and drivers; baggage services, including delivery of delayed luggage and baggage handling services; wheelchair assist services; baggage repair and replacement services; and on-street parking meter collection and other forms of parking enforcement services.

Further Reading

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