Kellner Capital LLC Takes Position in SP Plus Co. (NASDAQ:SP)

Kellner Capital LLC acquired a new stake in SP Plus Co. (NASDAQ:SP - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 67,836 shares of the business services provider's stock, valued at approximately $3,477,000. SP Plus accounts for about 6.3% of Kellner Capital LLC's portfolio, making the stock its 6th largest position. Kellner Capital LLC owned about 0.35% of SP Plus at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Swiss National Bank lifted its stake in shares of SP Plus by 0.9% during the 3rd quarter. Swiss National Bank now owns 43,200 shares of the business services provider's stock worth $1,560,000 after buying an additional 400 shares during the last quarter. Pacific Capital Wealth Advisors Inc. acquired a new stake in SP Plus in the 4th quarter worth about $61,000. Citigroup Inc. raised its stake in SP Plus by 12.1% in the 3rd quarter. Citigroup Inc. now owns 11,437 shares of the business services provider's stock worth $413,000 after purchasing an additional 1,238 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in SP Plus by 3.6% in the 3rd quarter. Janney Montgomery Scott LLC now owns 41,848 shares of the business services provider's stock worth $1,511,000 after purchasing an additional 1,466 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in SP Plus by 12.2% in the 3rd quarter. Deutsche Bank AG now owns 16,517 shares of the business services provider's stock worth $596,000 after purchasing an additional 1,792 shares in the last quarter. Institutional investors and hedge funds own 93.98% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on SP. TheStreet cut shares of SP Plus from a "b" rating to a "c+" rating in a research note on Tuesday, February 27th. StockNews.com initiated coverage on shares of SP Plus in a report on Wednesday. They set a "hold" rating on the stock.

SP Plus Stock Up 4.1 %

Shares of NASDAQ SP traded up $2.09 during trading on Friday, hitting $53.46. The stock had a trading volume of 1,992,625 shares, compared to its average volume of 187,039. SP Plus Co. has a 12 month low of $34.17 and a 12 month high of $53.90. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.73 and a quick ratio of 0.71. The company has a market capitalization of $1.06 billion, a PE ratio of 35.17 and a beta of 1.22. The firm has a fifty day moving average of $51.66 and a two-hundred day moving average of $51.35.

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 for the quarter, missing the consensus estimate 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 1.68% and a return on equity of 21.93%. As a group, equities research analysts forecast that SP Plus Co. will post 3.26 EPS for the current fiscal year.

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.