Wolverine Asset Management LLC Makes New Investment in SP Plus Co. (NASDAQ:SP)

Wolverine Asset Management LLC purchased a new stake in shares of SP Plus Co. (NASDAQ:SP - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,160 shares of the business services provider's stock, valued at approximately $879,000. Wolverine Asset Management LLC owned approximately 0.09% of SP Plus as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rock Point Advisors LLC increased its position in shares of SP Plus by 2.6% during the 3rd quarter. Rock Point Advisors LLC now owns 265,658 shares of the business services provider's stock valued at $9,590,000 after purchasing an additional 6,624 shares during the last quarter. LSV Asset Management boosted its stake in shares of SP Plus by 31.8% during the 3rd quarter. LSV Asset Management now owns 238,971 shares of the business services provider's stock worth $8,627,000 after acquiring an additional 57,593 shares during the last quarter. Great Lakes Advisors LLC grew its position in shares of SP Plus by 23.5% during the 3rd quarter. Great Lakes Advisors LLC now owns 198,299 shares of the business services provider's stock valued at $7,159,000 after acquiring an additional 37,727 shares during the period. Thompson Siegel & Walmsley LLC increased its stake in shares of SP Plus by 107.3% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 125,278 shares of the business services provider's stock worth $4,523,000 after purchasing an additional 64,842 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in SP Plus by 510.4% in 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. 93.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. StockNews.com started coverage on shares of SP Plus in a research report on Monday. They set a "hold" rating on the stock. TheStreet downgraded SP Plus from a "b" rating to a "c+" rating in a research report on Tuesday, February 27th.

SP Plus Stock Performance

SP stock traded up $0.15 during trading on Friday, reaching $51.15. The company had a trading volume of 60,947 shares, compared to its average volume of 194,198. 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 Co. has a twelve month low of $32.86 and a twelve month high of $52.56. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 32.81 and a beta of 1.22. The firm has a 50-day simple moving average of $51.62 and a 200-day simple moving average of $51.28.

SP Plus (NASDAQ:SP - Get Free Report) last issued its 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 business had revenue of $217.20 million for the quarter, compared to analysts' expectations of $235.44 million. SP Plus had a return on equity of 22.49% and a net margin of 1.74%. As a group, sell-side analysts expect that SP Plus Co. will post 3.42 earnings per share for the current year.

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.