StockNews.com initiated coverage on shares of SP Plus (NASDAQ:SP – Free Report) in a research report released on Tuesday morning. The brokerage issued a hold rating on the business services provider’s stock.
Separately, TheStreet cut SP Plus from a b rating to a c+ rating in a report on Tuesday, February 27th.
Check Out Our Latest Report on SP Plus
SP Plus Stock Performance
SP Plus (NASDAQ:SP – Get Free Report) last released its earnings results on Wednesday, May 1st. The business services provider reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.06). SP Plus had a net margin of 1.68% and a return on equity of 21.93%. The business had revenue of $222.10 million for the quarter, compared to the consensus estimate of $229.00 million. As a group, research analysts forecast that SP Plus will post 3.5 earnings per share for the current year.
Institutional Trading of SP Plus
Hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC grew its stake in SP Plus by 868.4% in the fourth quarter. Parallel Advisors LLC now owns 552 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 495 shares in the last quarter. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of SP Plus in the 4th quarter valued at approximately $61,000. Quest Partners LLC bought a new stake in shares of SP Plus in the 4th quarter valued at approximately $73,000. MQS Management LLC acquired a new position in SP Plus in the third quarter worth approximately $205,000. Finally, GAM Holding AG bought a new position in SP Plus during the fourth quarter valued at approximately $256,000. 93.98% of the stock is owned by hedge funds and other institutional investors.
SP Plus Company 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.
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