Victory Capital Management Inc. raised its position in SP Plus Corp (NASDAQ:SP) by 1.9% during the 4th quarter, Holdings Channel reports. The firm owned 55,932 shares of the business services provider’s stock after acquiring an additional 1,058 shares during the quarter. Victory Capital Management Inc.’s holdings in SP Plus were worth $1,652,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of SP. Quantamental Technologies LLC acquired a new stake in SP Plus in the fourth quarter valued at $58,000. Amica Retiree Medical Trust acquired a new stake in SP Plus in the third quarter valued at $217,000. James Investment Research Inc. lifted its position in shares of SP Plus by 10.7% in the fourth quarter. James Investment Research Inc. now owns 13,620 shares of the business services provider’s stock valued at $402,000 after acquiring an additional 1,315 shares in the last quarter. Symons Capital Management Inc. lifted its position in shares of SP Plus by 46.9% in the third quarter. Symons Capital Management Inc. now owns 11,863 shares of the business services provider’s stock valued at $433,000 after acquiring an additional 3,787 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of SP Plus in the third quarter valued at $486,000. 96.65% of the stock is currently owned by institutional investors.
In related news, EVP John Ricchiuto sold 4,913 shares of the stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $36.08, for a total transaction of $177,261.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company’s stock.
Several analysts have recently issued reports on the company. Barrington Research restated a “buy” rating and issued a $43.00 price objective on shares of SP Plus in a research report on Friday, February 22nd. Zacks Investment Research downgraded SP Plus from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 6th. Finally, BidaskClub upgraded SP Plus from a “hold” rating to a “buy” rating in a research report on Wednesday, February 13th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. SP Plus currently has a consensus rating of “Buy” and a consensus price target of $44.00.
NASDAQ SP opened at $34.51 on Friday. SP Plus Corp has a twelve month low of $27.13 and a twelve month high of $41.35. The stock has a market cap of $826.37 million, a P/E ratio of 14.75, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.24.
SP Plus (NASDAQ:SP) last released its earnings results on Wednesday, February 20th. The business services provider reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.09. SP Plus had a return on equity of 15.38% and a net margin of 3.62%. The firm had revenue of $377.30 million for the quarter, compared to the consensus estimate of $192.13 million. On average, equities analysts anticipate that SP Plus Corp will post 2.61 EPS for the current year.
About SP Plus
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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