Raymond James & Associates Sells 25,517 Shares of SP Plus Co. (NASDAQ:SP)

Raymond James & Associates lowered its stake in shares of SP Plus Co. (NASDAQ:SP - Free Report) by 21.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 94,199 shares of the business services provider's stock after selling 25,517 shares during the period. Raymond James & Associates owned approximately 0.48% of SP Plus worth $4,828,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP raised its holdings in SP Plus by 5.9% in 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 buying an additional 80,286 shares during the period. Comerica Bank purchased a new position in shares of SP Plus in the 3rd quarter valued at $2,665,000. BlackRock Inc. raised its stake in shares of SP Plus by 5.3% in the 2nd quarter. BlackRock Inc. now owns 1,391,373 shares of the business services provider's stock valued at $54,417,000 after acquiring an additional 69,499 shares during the period. Thompson Siegel & Walmsley LLC lifted its holdings in shares of SP Plus by 107.3% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 125,278 shares of the business services provider's stock valued at $4,523,000 after acquiring an additional 64,842 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in SP Plus by 510.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 72,265 shares of the business services provider's stock worth $2,609,000 after purchasing an additional 60,427 shares during the period. Institutional investors and hedge funds own 93.98% of the company's stock.

SP Plus Stock Performance

Shares of SP traded down $0.04 during mid-day trading on Thursday, reaching $52.01. 67,394 shares of the company's stock traded hands, compared to its average volume of 189,766. SP Plus Co. has a 12 month low of $32.78 and a 12 month high of $52.56. The stock has a market capitalization of $1.03 billion, a P/E ratio of 33.34 and a beta of 1.22. The business's 50-day moving average price is $51.69 and its 200-day moving average price is $50.43. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.71 and a current ratio of 0.71.

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. StockNews.com initiated coverage on SP Plus in a report on Saturday, April 6th. They issued a "hold" rating for the company. TheStreet lowered shares of SP Plus from a "b" rating to a "c+" rating in a report on Tuesday, February 27th.

SP Plus Profile

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.