SP Plus (NASDAQ:SP) Rating Lowered to Buy at StockNews.com

SP Plus (NASDAQ:SPGet Rating) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday.

Separately, Barrington Research lifted their price target on SP Plus from $47.00 to $48.00 in a research note on Tuesday, August 23rd.

SP Plus Trading Down 0.3 %

SP Plus stock traded down $0.10 during trading hours on Thursday, reaching $34.74. The company had a trading volume of 73,147 shares, compared to its average volume of 113,895. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.67 and a quick ratio of 0.67. The company has a 50-day moving average price of $33.78 and a 200 day moving average price of $32.72. The firm has a market cap of $700.71 million, a price-to-earnings ratio of 15.04 and a beta of 1.40. SP Plus has a 12-month low of $25.29 and a 12-month high of $37.52.

Insider Transactions at SP Plus

In other news, insider Robert Toy sold 5,000 shares of SP Plus stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $34.66, for a total value of $173,300.00. Following the sale, the insider now directly owns 48,355 shares in the company, valued at approximately $1,675,984.30. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.03% of the company’s stock.

Institutional Investors Weigh In On SP Plus

Large investors have recently made changes to their positions in the business. Telemark Asset Management LLC boosted its position in shares of SP Plus by 17.8% during the first quarter. Telemark Asset Management LLC now owns 1,001,000 shares of the business services provider’s stock valued at $31,391,000 after purchasing an additional 151,600 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of SP Plus by 307.2% during the second quarter. Assenagon Asset Management S.A. now owns 188,516 shares of the business services provider’s stock valued at $5,791,000 after purchasing an additional 142,219 shares in the last quarter. EVR Research LP bought a new stake in shares of SP Plus during the third quarter valued at approximately $4,385,000. Rothschild & Co. Asset Management US Inc. boosted its position in shares of SP Plus by 969.6% during the first quarter. Rothschild & Co. Asset Management US Inc. now owns 154,283 shares of the business services provider’s stock valued at $4,838,000 after purchasing an additional 139,859 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of SP Plus by 5.9% during the first quarter. Wellington Management Group LLP now owns 1,434,482 shares of the business services provider’s stock valued at $44,985,000 after purchasing an additional 80,286 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors.

SP Plus Company Profile

(Get Rating)

SP Plus Corp. provides professional parking, ground transportation, facility maintenance, security, event logistics, and baggage handling and related services to commercial, institutional, municipal and aviation clients. It also provides a wide range of event logistics services. The firm operates through the following segments: Commercial, Aviation, and Other.

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