MAI Capital Management Takes Position in SP Plus Co. (NASDAQ:SP)

MAI Capital Management bought a new stake in SP Plus Co. (NASDAQ:SP - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 9,284 shares of the business services provider's stock, valued at approximately $318,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Martingale Asset Management L P boosted its stake in shares of SP Plus by 29.0% in the 4th quarter. Martingale Asset Management L P now owns 26,980 shares of the business services provider's stock valued at $937,000 after purchasing an additional 6,061 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new position in SP Plus during the 1st quarter worth about $424,000. Boston Partners lifted its position in SP Plus by 22.0% during the 1st quarter. Boston Partners now owns 16,639 shares of the business services provider's stock worth $571,000 after buying an additional 2,998 shares in the last quarter. Mesirow Institutional Investment Management Inc. acquired a new position in SP Plus during the 1st quarter worth about $3,457,000. Finally, Verdence Capital Advisors LLC acquired a new position in SP Plus during the 1st quarter worth about $1,958,000. Institutional investors and hedge funds own 97.22% of the company's stock.

SP Plus Stock Performance

Shares of NASDAQ:SP opened at $39.59 on Thursday. The stock has a market capitalization of $777.94 million, a P/E ratio of 20.20 and a beta of 1.35. SP Plus Co. has a 1-year low of $30.25 and a 1-year high of $42.29. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.46. The business has a 50-day moving average price of $39.42 and a two-hundred day moving average price of $36.75.

SP Plus (NASDAQ:SP - Get Free Report) last announced its quarterly earnings data on Wednesday, August 2nd. The business services provider reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.14. The firm had revenue of $221.30 million during the quarter, compared to analysts' expectations of $220.41 million. SP Plus had a return on equity of 23.68% and a net margin of 2.35%. Equities analysts predict that SP Plus Co. will post 2.96 earnings per share for the current year.

Analysts Set New Price Targets

SP has been the topic of several research reports. Barrington Research upped their price target on shares of SP Plus from $50.00 to $52.00 and gave the stock an "outperform" rating in a research report on Thursday, August 17th. StockNews.com initiated coverage on shares of SP Plus in a research report on Thursday, August 17th. They set a "buy" rating on the stock.

SP Plus Profile

SP Plus Corporation provides mobility solutions, parking management, ground transportation, baggage, and other ancillary services in North America. The company operates in Commercial and Aviation segments. It provides on-site parking management, valet parking, ground transportation, facility maintenance, event logistics, remote airline check-in, security, municipal meter revenue collection and enforcement, and consulting services, as well as shuttle bus vehicles and drivers; baggage services, including delivery of delayed luggage and baggage handling services; wheelchair assist services; baggage repair and replacement services; and on-street parking meter collection and other forms of parking enforcement services.

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