Investors Research Corp acquired a new position in shares of SP Plus Corp (NASDAQ:SP) in the first quarter, HoldingsChannel reports. The firm acquired 800 shares of the business services provider’s stock, valued at approximately $27,000.
Several other institutional investors have also bought and sold shares of the company. Public Employees Retirement System of Ohio boosted its stake in shares of SP Plus by 57.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 1,279 shares of the business services provider’s stock worth $38,000 after buying an additional 467 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of SP Plus by 18.2% in the 4th quarter. Legal & General Group Plc now owns 4,234 shares of the business services provider’s stock valued at $125,000 after purchasing an additional 653 shares during the period. Teachers Advisors LLC raised its holdings in shares of SP Plus by 0.9% in the 3rd quarter. Teachers Advisors LLC now owns 79,967 shares of the business services provider’s stock valued at $2,919,000 after purchasing an additional 723 shares during the period. Victory Capital Management Inc. raised its holdings in shares of SP Plus by 1.9% in the 4th quarter. Victory Capital Management Inc. now owns 55,932 shares of the business services provider’s stock valued at $1,652,000 after purchasing an additional 1,058 shares during the period. Finally, Citigroup Inc. raised its holdings in shares of SP Plus by 15.0% in the 4th quarter. Citigroup Inc. now owns 8,336 shares of the business services provider’s stock valued at $246,000 after purchasing an additional 1,088 shares during the period. Institutional investors own 95.53% of the company’s stock.
SP has been the topic of a number of research analyst reports. ValuEngine raised shares of SP Plus from a “sell” rating to a “hold” rating in a report on Thursday, January 10th. BidaskClub raised shares of SP Plus from a “sell” rating to a “hold” rating in a report on Friday, January 11th. Zacks Investment Research cut shares of SP Plus from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 6th. Finally, Barrington Research reaffirmed a “buy” rating and issued a $43.00 target price on shares of SP Plus in a report on Friday, February 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $44.00.
SP Plus stock opened at $34.64 on Monday. The stock has a market capitalization of $791.66 million, a price-to-earnings ratio of 14.80, a P/E/G ratio of 1.33 and a beta of 1.05. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.98. SP Plus Corp has a twelve month low of $27.13 and a twelve month high of $41.35.
SP Plus (NASDAQ:SP) last released its quarterly earnings results on Wednesday, February 20th. The business services provider reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.09. The firm had revenue of $377.30 million for the quarter, compared to analysts’ expectations of $192.13 million. SP Plus had a net margin of 3.62% and a return on equity of 15.11%. As a group, equities analysts forecast that SP Plus Corp will post 2.61 earnings per share for the current fiscal year.
In other SP Plus news, EVP John Ricchiuto sold 4,913 shares of the stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $36.08, for a total value of $177,261.04. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robert Toy sold 2,500 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $33.04, for a total transaction of $82,600.00. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.
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SP Plus Company Profile
SP Plus Corporation provides parking management, ground transportation, baggage, and other ancillary services to commercial, hospitality, institutional, municipal and governmental, and aviation clients in the United States, Canada, and Puerto Rico. It provides on-site parking management, valet parking, ground transportation, facility maintenance, event logistics, baggage handling, remote airline check-in, security, municipal meter revenue collection and enforcement, and consulting services.
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