Price T Rowe Associates Inc. MD Buys Shares of 11,678 SP Plus Co. (NASDAQ:SP)

Price T Rowe Associates Inc. MD acquired a new stake in shares of SP Plus Co. (NASDAQ:SP) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 11,678 shares of the business services provider’s stock, valued at approximately $337,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Lord Abbett & CO. LLC lifted its position in SP Plus by 242.6% during the fourth quarter. Lord Abbett & CO. LLC now owns 346,772 shares of the business services provider’s stock valued at $9,997,000 after purchasing an additional 245,554 shares during the last quarter. Epoch Investment Partners Inc. purchased a new position in SP Plus in the fourth quarter worth about $6,486,000. Morgan Stanley increased its position in shares of SP Plus by 218.3% during the 3rd quarter. Morgan Stanley now owns 91,712 shares of the business services provider’s stock valued at $1,646,000 after purchasing an additional 62,901 shares during the last quarter. BlackRock Inc. raised its stake in shares of SP Plus by 3.3% in the fourth quarter. BlackRock Inc. now owns 1,713,172 shares of the business services provider’s stock valued at $49,391,000 after acquiring an additional 55,004 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in shares of SP Plus in the 4th quarter worth about $1,236,000. Institutional investors and hedge funds own 85.29% of the company’s stock.

In other SP Plus news, CFO Kristopher H. Roy sold 1,600 shares of the company’s stock in a transaction on Friday, March 19th. The stock was sold at an average price of $33.26, for a total transaction of $53,216.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Ricchiuto sold 3,500 shares of the stock in a transaction on Friday, March 5th. The shares were sold at an average price of $34.01, for a total value of $119,035.00. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by corporate insiders.

Shares of SP opened at $31.81 on Wednesday. The firm has a market capitalization of $738.15 million, a price-to-earnings ratio of -4.07, a PEG ratio of 2.20 and a beta of 1.61. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.56 and a quick ratio of 0.56. SP Plus Co. has a 1-year low of $15.29 and a 1-year high of $36.71. The company has a 50-day moving average of $33.63 and a 200 day moving average of $28.88.

SP Plus (NASDAQ:SP) last posted its quarterly earnings results on Tuesday, February 16th. The business services provider reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.14). The company had revenue of $119.00 million for the quarter, compared to the consensus estimate of $127.52 million. SP Plus had a negative net margin of 13.02% and a positive return on equity of 7.33%. On average, equities analysts anticipate that SP Plus Co. will post 0.74 earnings per share for the current fiscal year.

SP has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of SP Plus from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 14th. Barrington Research boosted their price objective on SP Plus from $36.00 to $39.00 and gave the company an “outperform” rating in a report on Monday, February 22nd.

SP Plus Profile

SP Plus Corporation provides parking management, ground transportation, baggage, and other ancillary services in North America. The company operates through Commercial, Aviation, and Other segments. It provides on-site parking management, event logistics, baggage handling, remote airline check-in, security, and municipal meter revenue collection and enforcement services.

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

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