Investment Counselors of Maryland LLC lifted its position in SP Plus Corp (NASDAQ:SP) by 5.3% during the third quarter, HoldingsChannel.com reports. The fund owned 483,935 shares of the business services provider’s stock after purchasing an additional 24,328 shares during the period. Investment Counselors of Maryland LLC’s holdings in SP Plus were worth $17,664,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Ramsey Quantitative Systems raised its holdings in SP Plus by 102.5% during the 3rd quarter. Ramsey Quantitative Systems now owns 4,539 shares of the business services provider’s stock worth $166,000 after buying an additional 2,297 shares during the period. WINTON GROUP Ltd acquired a new stake in SP Plus during the 1st quarter worth approximately $217,000. Metropolitan Life Insurance Co. NY raised its holdings in SP Plus by 30.5% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 7,462 shares of the business services provider’s stock worth $278,000 after buying an additional 1,744 shares during the period. We Are One Seven LLC acquired a new stake in SP Plus during the 3rd quarter worth approximately $285,000. Finally, Atria Investments LLC raised its holdings in SP Plus by 26.0% during the 2nd quarter. Atria Investments LLC now owns 9,804 shares of the business services provider’s stock worth $365,000 after buying an additional 2,023 shares during the period. Institutional investors and hedge funds own 97.28% of the company’s stock.
In related news, CEO G Marc Baumann sold 1,000 shares of the firm’s stock in a transaction 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 this link. 1.00% of the stock is owned by company insiders.
Shares of SP opened at $31.95 on Wednesday. The company has a market cap of $710.07 million, a PE ratio of 18.79, a price-to-earnings-growth ratio of 1.40 and a beta of 1.11. SP Plus Corp has a twelve month low of $30.49 and a twelve month high of $41.70. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.87 and a quick ratio of 0.87.
SP Plus (NASDAQ:SP) last issued its quarterly earnings results on Wednesday, October 31st. The business services provider reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.03. The company had revenue of $362.10 million during the quarter, compared to analysts’ expectations of $190.74 million. SP Plus had a net margin of 3.50% and a return on equity of 14.84%. As a group, sell-side analysts expect that SP Plus Corp will post 2.23 EPS for the current fiscal year.
Several equities analysts have recently weighed in on SP shares. Zacks Investment Research cut shares of SP Plus from a “hold” rating to a “sell” rating in a research note on Tuesday. BidaskClub cut shares of SP Plus from a “hold” rating to a “sell” rating in a research note on Friday, September 14th. Barrington Research raised their price target on shares of SP Plus from $42.00 to $43.00 and gave the stock an “outperform” rating in a research note on Monday, August 6th. ValuEngine cut shares of SP Plus from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Finally, Sidoti decreased their price target on shares of SP Plus from $52.00 to $48.00 and set a “buy” rating for the company in a research note on Wednesday, October 10th. Three analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $44.00.
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SP Plus Company 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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