StockNews.com assumed coverage on shares of SP Plus (NASDAQ:SP – Free Report) in a research report report published on Tuesday morning. The brokerage issued a hold rating on the business services provider’s stock.
Separately, TheStreet lowered SP Plus from a b rating to a c+ rating in a research note on Tuesday, February 27th.
SP Plus Stock Performance
SP Plus (NASDAQ:SP – Get Free Report) last issued its earnings results on Tuesday, February 27th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.25). The business had revenue of $217.20 million for the quarter, compared to analysts’ expectations of $235.44 million. SP Plus had a return on equity of 22.21% and a net margin of 1.68%. On average, equities analysts forecast that SP Plus will post 3.42 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC grew its stake in shares of SP Plus by 868.4% during the fourth quarter. Parallel Advisors LLC now owns 552 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 495 shares in the last quarter. Pacific Capital Wealth Advisors Inc. acquired a new stake in shares of SP Plus during the fourth quarter valued at about $61,000. Quest Partners LLC acquired a new stake in shares of SP Plus during the fourth quarter valued at about $73,000. Quantbot Technologies LP acquired a new stake in shares of SP Plus during the third quarter valued at about $101,000. Finally, SG Americas Securities LLC acquired a new stake in shares of SP Plus during the third quarter valued at about $108,000. 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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