Schwab Charles Investment Management Inc. increased its position in shares of SP Plus Corp (NASDAQ:SP) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 157,076 shares of the business services provider’s stock after buying an additional 1,607 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.70% of SP Plus worth $5,828,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. California Public Employees Retirement System purchased a new stake in SP Plus in the second quarter valued at approximately $214,000. State Street Corp raised its position in SP Plus by 9.5% in the second quarter. State Street Corp now owns 349,368 shares of the business services provider’s stock valued at $10,670,000 after purchasing an additional 30,246 shares during the period. The Manufacturers Life Insurance Company raised its position in SP Plus by 1.4% in the second quarter. The Manufacturers Life Insurance Company now owns 13,989 shares of the business services provider’s stock valued at $428,000 after purchasing an additional 197 shares during the period. First Trust Advisors LP raised its position in SP Plus by 21.3% in the third quarter. First Trust Advisors LP now owns 17,868 shares of the business services provider’s stock valued at $706,000 after purchasing an additional 3,134 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its position in SP Plus by 140.7% in the third quarter. State Board of Administration of Florida Retirement System now owns 35,342 shares of the business services provider’s stock valued at $1,396,000 after purchasing an additional 20,657 shares during the period. 96.40% of the stock is currently owned by hedge funds and other institutional investors.
SP stock traded up $0.30 during trading hours on Wednesday, hitting $37.30. 7,665 shares of the company’s stock traded hands, compared to its average volume of 117,763. The firm has a market capitalization of $838.59, a P/E ratio of 21.75, a price-to-earnings-growth ratio of 1.68 and a beta of 1.09. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.49. SP Plus Corp has a fifty-two week low of $28.10 and a fifty-two week high of $41.70.
SP Plus (NASDAQ:SP) last posted its quarterly earnings results on Wednesday, February 21st. The business services provider reported $0.40 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.40. The business had revenue of $392.40 million during the quarter, compared to the consensus estimate of $223.40 million. SP Plus had a net margin of 2.55% and a return on equity of 12.87%. research analysts expect that SP Plus Corp will post 2.21 earnings per share for the current fiscal year.
A number of analysts have issued reports on the company. Barrington Research reissued an “outperform” rating and issued a $42.00 target price (up previously from $39.00) on shares of SP Plus in a research report on Monday, March 5th. Zacks Investment Research upgraded shares of SP Plus from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research note on Saturday, February 24th. Finally, BidaskClub downgraded shares of SP Plus from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd.
In related news, insider Thomas L. Hagerman sold 833 shares of the business’s stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $36.20, for a total transaction of $30,154.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO G Marc Baumann sold 1,000 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $38.00, for a total transaction of $38,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,333 shares of company stock valued at $354,280. Insiders own 1.40% of the company’s stock.
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SP Plus Company 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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