Ramsey Quantitative Systems Boosts Holdings in SP Plus Corp (SP)

Ramsey Quantitative Systems raised its holdings in shares of SP Plus Corp (NASDAQ:SP) by 102.5% during the third quarter, HoldingsChannel.com reports. The firm owned 4,539 shares of the business services provider’s stock after purchasing an additional 2,297 shares during the period. Ramsey Quantitative Systems’ holdings in SP Plus were worth $166,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SP. Schwab Charles Investment Management Inc. increased its position in SP Plus by 1.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 159,816 shares of the business services provider’s stock valued at $5,690,000 after purchasing an additional 2,740 shares during the period. Northern Trust Corp increased its position in SP Plus by 5.1% during the 1st quarter. Northern Trust Corp now owns 271,972 shares of the business services provider’s stock valued at $9,682,000 after purchasing an additional 13,223 shares during the period. JPMorgan Chase & Co. increased its position in SP Plus by 81.3% during the 1st quarter. JPMorgan Chase & Co. now owns 39,471 shares of the business services provider’s stock valued at $1,405,000 after purchasing an additional 17,703 shares during the period. New York State Common Retirement Fund increased its position in SP Plus by 9.8% during the 1st quarter. New York State Common Retirement Fund now owns 55,001 shares of the business services provider’s stock valued at $1,958,000 after purchasing an additional 4,928 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in SP Plus by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,102,557 shares of the business services provider’s stock valued at $39,251,000 after purchasing an additional 6,312 shares during the period. 96.33% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have recently issued reports on the stock. Sidoti cut their price objective on shares of SP Plus from $52.00 to $48.00 and set a “buy” rating on the stock in a research report on Wednesday, October 10th. Zacks Investment Research downgraded shares of SP Plus from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. BidaskClub downgraded shares of SP Plus from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 6th. ValuEngine downgraded shares of SP Plus from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Finally, Barrington Research lifted their price objective on shares of SP Plus from $42.00 to $43.00 and gave the stock an “outperform” rating in a research report on Monday, August 6th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $44.00.

Shares of SP Plus stock opened at $32.92 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.30. SP Plus Corp has a 52-week low of $32.03 and a 52-week high of $41.70. The company has a market capitalization of $829.63 million, a PE ratio of 19.36, a PEG ratio of 1.61 and a beta of 0.99.

SP Plus (NASDAQ:SP) last issued its quarterly earnings data on Tuesday, July 31st. The business services provider reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.07. SP Plus had a net margin of 3.28% and a return on equity of 14.06%. The firm had revenue of $362.20 million for the quarter, compared to the consensus estimate of $191.95 million. On average, equities research analysts expect that SP Plus Corp will post 2.27 earnings per share for the current fiscal year.

In related news, CEO G Marc Baumann sold 1,000 shares of SP Plus stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $36.50, for a total value of $36,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas L. Hagerman sold 3,918 shares of SP Plus stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $39.25, for a total transaction of $153,781.50. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

SP Plus Profile

SP Plus Corporation provides parking management, ground transportation, and other ancillary services to commercial, institutional, and municipal clients in the United States, Puerto Rico, and Canada. It provides facility maintenance, event logistics, security services, training, scheduling, and supervising of service personnel; and customer services, marketing, and accounting and revenue control functions to facilitate the operation of its clients' facilities or events.

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Institutional Ownership by Quarter for SP Plus (NASDAQ:SP)

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