Private Advisor Group LLC Cuts Position in SP Plus Co. (NASDAQ:SP)

Private Advisor Group LLC decreased its holdings in shares of SP Plus Co. (NASDAQ:SP - Free Report) by 64.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,894 shares of the business services provider's stock after selling 16,458 shares during the quarter. Private Advisor Group LLC's holdings in SP Plus were worth $456,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. acquired a new stake in SP Plus in the fourth quarter worth $15,391,000. Rock Point Advisors LLC lifted its holdings in SP Plus by 2.6% during the third quarter. Rock Point Advisors LLC now owns 265,658 shares of the business services provider's stock worth $9,590,000 after acquiring an additional 6,624 shares in the last quarter. LSV Asset Management grew its stake in SP Plus by 31.8% in the third quarter. LSV Asset Management now owns 238,971 shares of the business services provider's stock valued at $8,627,000 after acquiring an additional 57,593 shares during the period. Great Lakes Advisors LLC increased its holdings in shares of SP Plus by 23.5% in the third quarter. Great Lakes Advisors LLC now owns 198,299 shares of the business services provider's stock worth $7,159,000 after acquiring an additional 37,727 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC raised its position in shares of 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 worth $4,523,000 after purchasing an additional 64,842 shares during the period. 93.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. TheStreet cut SP Plus from a "b" rating to a "c+" rating in a research note on Tuesday, February 27th. StockNews.com started coverage on shares of SP Plus in a report on Thursday, May 16th. They set a "hold" rating on the stock.

SP Plus Stock Up 0.0 %

SP Plus stock traded up $0.02 during midday trading on Tuesday, reaching $53.99. The stock had a trading volume of 594,000 shares, compared to its average volume of 225,382. SP Plus Co. has a 1-year low of $34.17 and a 1-year high of $54.42. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.73 and a current ratio of 0.73. The firm's fifty day simple moving average is $51.99 and its 200-day simple moving average is $51.54. The stock has a market capitalization of $1.07 billion, a P/E ratio of 35.52 and a beta of 1.22.

SP Plus (NASDAQ:SP - Get Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The business services provider reported $0.60 EPS for the quarter, missing analysts' consensus estimates of $0.85 by ($0.25). SP Plus had a return on equity of 21.93% and a net margin of 1.68%. The business had revenue of $217.20 million during the quarter, compared to the consensus estimate of $235.44 million. As a group, analysts expect that SP Plus Co. will post 3.5 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.