PNC Financial Services Group Inc. decreased its position in SP Plus Co. (NASDAQ:SP – Free Report) by 57.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,909 shares of the business services provider’s stock after selling 8,009 shares during the quarter. PNC Financial Services Group Inc.’s holdings in SP Plus were worth $303,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in SP. Versor Investments LP lifted its holdings in shares of SP Plus by 903.3% in the 4th quarter. Versor Investments LP now owns 65,216 shares of the business services provider’s stock worth $3,342,000 after purchasing an additional 58,716 shares during the last quarter. New York Life Investment Management LLC lifted its holdings in shares of SP Plus by 456.8% in the 4th quarter. New York Life Investment Management LLC now owns 57,812 shares of the business services provider’s stock worth $2,963,000 after purchasing an additional 47,429 shares during the last quarter. National Bank of Canada FI bought a new stake in shares of SP Plus in the 4th quarter worth approximately $1,193,000. Kellner Capital LLC bought a new stake in shares of SP Plus in the 4th quarter worth approximately $3,477,000. Finally, International Assets Investment Management LLC lifted its holdings in shares of SP Plus by 3,883.2% in the 4th quarter. International Assets Investment Management LLC now owns 30,750 shares of the business services provider’s stock worth $1,576,000 after purchasing an additional 29,978 shares during the last quarter. Institutional investors and hedge funds own 93.98% of the company’s stock.
SP Plus Stock Up 0.0 %
Shares of SP Plus stock opened at $53.99 on Thursday. The business’s fifty day moving average price is $52.47 and its two-hundred day moving average price is $51.77. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market capitalization of $1.07 billion, a P/E ratio of 35.52 and a beta of 1.22. SP Plus Co. has a 1-year low of $34.17 and a 1-year high of $54.42.
SP Plus (NASDAQ:SP – Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The business services provider reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.06). SP Plus had a return on equity of 21.93% and a net margin of 1.68%. The firm had revenue of $222.10 million during the quarter, compared to the consensus estimate of $229.00 million. As a group, research analysts forecast that SP Plus Co. will post 3.5 EPS for the current year.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on SP. TheStreet downgraded SP Plus from a “b” rating to a “c+” rating in a research note on Tuesday, February 27th. StockNews.com began coverage on SP Plus in a research note on Saturday, June 1st. They set a “hold” rating on the stock.
Read Our Latest Stock Analysis on SP Plus
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.
Further Reading
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Source: defenseworld.net
