ClariVest Asset Management LLC bought a new stake in SP Plus Corporation (NASDAQ:SP) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 25,200 shares of the business services provider’s stock, valued at approximately $996,000. ClariVest Asset Management LLC owned 0.11% of SP Plus as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC bought a new stake in shares of SP Plus during the 2nd quarter valued at approximately $14,540,000. Laurion Capital Management LP bought a new stake in shares of SP Plus during the 2nd quarter valued at approximately $11,962,000. Principal Financial Group Inc. bought a new stake in shares of SP Plus during the 2nd quarter valued at approximately $11,150,000. FMR LLC acquired a new stake in SP Plus during the 2nd quarter worth approximately $10,693,000. Finally, Thompson Siegel & Walmsley LLC acquired a new stake in SP Plus during the 2nd quarter worth approximately $8,260,000. 96.57% of the stock is currently owned by hedge funds and other institutional investors.
In other SP Plus news, major shareholder Walter S. Woltosz sold 18,500 shares of the company’s stock in a transaction dated Saturday, October 28th. The shares were sold at an average price of $16.37, for a total transaction of $302,845.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.40% of the stock is currently owned by corporate insiders.
A number of research analysts recently issued reports on the stock. BidaskClub upgraded shares of SP Plus from a “buy” rating to a “strong-buy” rating in a research report on Thursday, September 28th. ValuEngine downgraded shares of SP Plus from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, Zacks Investment Research upgraded shares of SP Plus from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Saturday, November 4th.
Shares of SP Plus Corporation (SP) traded up $0.30 during mid-day trading on Thursday, reaching $39.20. 214,310 shares of the company’s stock were exchanged, compared to its average volume of 146,402. SP Plus Corporation has a fifty-two week low of $27.05 and a fifty-two week high of $41.25. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.50. The company has a market cap of $886.19, a price-to-earnings ratio of 21.50, a PEG ratio of 2.31 and a beta of 1.00.
SP Plus (NASDAQ:SP) last posted its earnings results on Wednesday, November 1st. The business services provider reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.08. The firm had revenue of $392.70 million during the quarter, compared to analyst estimates of $228.10 million. SP Plus had a net margin of 2.64% and a return on equity of 14.29%. research analysts anticipate that SP Plus Corporation will post 1.7 EPS for the current year.
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About SP Plus
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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