Envestnet Asset Management Inc. Invests $120,000 in SP Plus Corp (SP)

Envestnet Asset Management Inc. acquired a new stake in SP Plus Corp (NASDAQ:SP) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 3,253 shares of the business services provider’s stock, valued at approximately $120,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of SP Plus in the third quarter valued at about $141,000. Mutual Advisors LLC acquired a new stake in shares of SP Plus in the fourth quarter valued at about $278,000. Teacher Retirement System of Texas acquired a new stake in shares of SP Plus in the fourth quarter valued at about $289,000. Lazard Asset Management LLC acquired a new stake in shares of SP Plus in the fourth quarter valued at about $295,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of SP Plus in the third quarter valued at about $337,000. Hedge funds and other institutional investors own 96.02% of the company’s stock.

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Several equities analysts have weighed in on SP shares. BidaskClub downgraded shares of SP Plus from a “buy” rating to a “hold” rating in a report on Friday, December 22nd. Zacks Investment Research downgraded shares of SP Plus from a “buy” rating to a “hold” rating in a report on Friday, January 5th. Finally, Barrington Research restated an “outperform” rating and set a $42.00 target price (up from $39.00) on shares of SP Plus in a report on Monday, March 5th.

In other news, CEO G Marc Baumann sold 1,000 shares of SP Plus stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $38.00, for a total transaction of $38,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gerard M. Klaisle sold 7,500 shares of SP Plus stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $38.15, for a total transaction of $286,125.00. The disclosure for this sale can be found here. Insiders have sold a total of 10,333 shares of company stock valued at $389,780 over the last 90 days. 1.00% of the stock is currently owned by insiders.

NASDAQ:SP opened at $36.65 on Friday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.49. SP Plus Corp has a twelve month low of $28.10 and a twelve month high of $41.70. The stock has a market cap of $830.77, a price-to-earnings ratio of 21.56, a price-to-earnings-growth ratio of 1.66 and a beta of 1.11.

SP Plus (NASDAQ:SP) last posted its earnings results on Wednesday, February 21st. The business services provider reported $0.40 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. SP Plus had a net margin of 2.55% and a return on equity of 12.87%. The firm had revenue of $392.40 million during the quarter, compared to the consensus estimate of $223.40 million. research analysts forecast that SP Plus Corp will post 2.21 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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Institutional Ownership by Quarter for SP Plus (NASDAQ:SP)

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