SP Plus Corp (SP) Position Cut by Quantamental Technologies LLC

Quantamental Technologies LLC decreased its holdings in shares of SP Plus Corp (NASDAQ:SP) by 35.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,282 shares of the business services provider’s stock after selling 694 shares during the period. Quantamental Technologies LLC’s holdings in SP Plus were worth $44,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in SP. OLD Second National Bank of Aurora bought a new position in shares of SP Plus during the first quarter worth about $26,000. Investors Research Corp bought a new position in shares of SP Plus during the first quarter worth about $27,000. Public Employees Retirement System of Ohio grew its position in shares of SP Plus by 57.5% during the fourth quarter. Public Employees Retirement System of Ohio now owns 1,279 shares of the business services provider’s stock worth $38,000 after acquiring an additional 467 shares during the last quarter. Legal & General Group Plc grew its position in shares of SP Plus by 18.2% during the fourth quarter. Legal & General Group Plc now owns 4,234 shares of the business services provider’s stock worth $125,000 after acquiring an additional 653 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its position in shares of SP Plus by 561.8% during the first quarter. BNP Paribas Arbitrage SA now owns 4,712 shares of the business services provider’s stock worth $161,000 after acquiring an additional 4,000 shares during the last quarter. Hedge funds and other institutional investors own 95.73% of the company’s stock.

In other SP Plus news, EVP Gerard M. Klaisle sold 1,060 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $35.00, for a total value of $37,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Ricchiuto sold 4,913 shares of the company’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $36.08, for a total transaction of $177,261.04. The disclosure for this sale can be found here. Insiders sold 8,673 shares of company stock valued at $303,961 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.



SP stock opened at $32.86 on Wednesday. The stock has a market capitalization of $750.98 million, a P/E ratio of 14.04, a P/E/G ratio of 1.27 and a beta of 1.03. SP Plus Corp has a fifty-two week low of $27.13 and a fifty-two week high of $41.35. The company has a debt-to-equity ratio of 1.93, a current ratio of 0.58 and a quick ratio of 0.90.

SP Plus (NASDAQ:SP) last posted its quarterly earnings data on Wednesday, May 1st. The business services provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.15. The business had revenue of $409.40 million during the quarter, compared to the consensus estimate of $234.85 million. SP Plus had a net margin of 3.21% and a return on equity of 15.92%. On average, analysts anticipate that SP Plus Corp will post 2.61 EPS for the current fiscal year.

Several research firms have recently commented on SP. Zacks Investment Research lowered shares of SP Plus from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. ValuEngine lowered shares of SP Plus from a “hold” rating to a “sell” rating in a research report on Thursday, April 4th. BidaskClub lowered shares of SP Plus from a “buy” rating to a “hold” rating in a research report on Thursday, March 7th. Finally, Barrington Research reaffirmed a “buy” rating and issued a $43.00 price objective on shares of SP Plus in a report on Friday, February 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $43.00.

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SP Plus Company Profile

SP Plus Corporation provides parking management, ground transportation, baggage, and other ancillary services to commercial, hospitality, institutional, municipal and governmental, and aviation clients in the United States, Canada, and Puerto Rico. It provides on-site parking management, valet parking, ground transportation, facility maintenance, event logistics, baggage handling, remote airline check-in, security, municipal meter revenue collection and enforcement, and consulting services.

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Institutional Ownership by Quarter for SP Plus (NASDAQ:SP)

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