Vanguard Group Inc. Sells 27,000 Shares of SP Plus Co. (NASDAQ:SP)

Vanguard Group Inc. lowered its position in shares of SP Plus Co. (NASDAQ:SP - Free Report) by 2.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,131,604 shares of the business services provider's stock after selling 27,000 shares during the quarter. Vanguard Group Inc. owned about 5.76% of SP Plus worth $40,851,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of SP Plus by 5.9% during the first quarter. Wellington Management Group LLP now owns 1,434,482 shares of the business services provider's stock valued at $44,985,000 after purchasing an additional 80,286 shares during the period. Comerica Bank bought a new stake in shares of SP Plus during the 3rd quarter worth $2,665,000. BlackRock Inc. lifted its holdings in shares of SP Plus by 5.3% during the second quarter. BlackRock Inc. now owns 1,391,373 shares of the business services provider's stock valued at $54,417,000 after purchasing an additional 69,499 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its stake in SP Plus by 107.3% during the third quarter. Thompson Siegel & Walmsley LLC now owns 125,278 shares of the business services provider's stock valued at $4,523,000 after buying an additional 64,842 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of SP Plus by 510.4% during the third quarter. Assenagon Asset Management S.A. now owns 72,265 shares of the business services provider's stock valued at $2,609,000 after acquiring an additional 60,427 shares during the period. Institutional investors own 93.98% of the company's stock.

SP Plus Stock Performance

SP stock traded up $0.08 during trading hours on Wednesday, hitting $52.05. 187,101 shares of the stock were exchanged, compared to its average volume of 191,539. The company has a 50-day simple moving average of $51.68 and a two-hundred day simple moving average of $50.40. The firm has a market capitalization of $1.03 billion, a P/E ratio of 33.30 and a beta of 1.22. SP Plus Co. has a 12 month low of $32.78 and a 12 month high of $52.56. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 1.34.

SP Plus (NASDAQ:SP - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by ($0.25). The firm had revenue of $217.20 million for the quarter, compared to analyst estimates of $235.44 million. SP Plus had a return on equity of 22.49% and a net margin of 1.74%. On average, analysts forecast that SP Plus Co. will post 3.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SP. StockNews.com assumed coverage on SP Plus in a research report on Saturday. They issued a "hold" rating for the company. TheStreet downgraded shares of SP Plus from a "b" rating to a "c+" rating in a report on Tuesday, February 27th.

About SP Plus

SP Plus Corporation provides mobility solutions, parking services, parking management, ground transportation, baggage handling, and other ancillary services. 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.