StockNews.com assumed coverage on shares of SP Plus (NASDAQ:SP – Free Report) in a report released on Wednesday. The brokerage issued a hold rating on the business services provider’s stock.
Separately, TheStreet downgraded SP Plus from a b rating to a c+ rating in a research report on Tuesday, February 27th.
Check Out Our Latest Stock Analysis on SP
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). SP Plus had a return on equity of 22.21% and a net margin of 1.68%. The company had revenue of $217.20 million during the quarter, compared to analyst estimates of $235.44 million. As a group, research analysts forecast that SP Plus will post 3.26 earnings per share for the current fiscal year.
Hedge Funds Weigh In On SP Plus
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Swiss National Bank boosted its holdings in SP Plus by 0.9% in the third quarter. Swiss National Bank now owns 43,200 shares of the business services provider’s stock valued at $1,560,000 after purchasing an additional 400 shares during the period. Parallel Advisors LLC boosted its stake in shares of SP Plus by 868.4% in the 4th quarter. Parallel Advisors LLC now owns 552 shares of the business services provider’s stock valued at $28,000 after buying an additional 495 shares during the period. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of SP Plus during the fourth quarter worth about $61,000. Citigroup Inc. increased its stake in shares of SP Plus by 12.1% during the third quarter. Citigroup Inc. now owns 11,437 shares of the business services provider’s stock worth $413,000 after buying an additional 1,238 shares during the period. Finally, Quest Partners LLC acquired a new stake in SP Plus in the fourth quarter valued at approximately $73,000. 93.98% of the stock is currently owned by hedge funds and other institutional investors.
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.
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