StockNews.com Begins Coverage on SP Plus (NASDAQ:SP)

Research analysts at StockNews.com began coverage on shares of SP Plus (NASDAQ:SP) in a note issued to investors on Monday. The brokerage set a “hold” rating on the business services provider’s stock.

A number of other equities analysts have also commented on the stock. William Blair lowered shares of SP Plus from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 5th. Barrington Research reaffirmed a “market perform” rating on shares of SP Plus in a research note on Friday, October 20th.

SP Plus Stock Performance

NASDAQ:SP opened at $51.51 on Monday. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 29.60 and a beta of 1.25. The firm’s 50-day moving average is $42.98 and its 200-day moving average is $39.72. SP Plus has a 52-week low of $31.52 and a 52-week high of $52.40. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.76 and a current ratio of 0.76.

Institutional Investors Weigh In On SP Plus

Several hedge funds and other institutional investors have recently made changes to their positions in SP. LSV Asset Management lifted its position in shares of SP Plus by 31.8% in the 3rd quarter. LSV Asset Management now owns 238,971 shares of the business services provider’s stock worth $8,627,000 after purchasing an additional 57,593 shares during the period. Principal Financial Group Inc. bought a new stake in SP Plus during the 3rd quarter valued at $207,000. Knights of Columbus Asset Advisors LLC grew its stake in shares of SP Plus by 2.8% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 66,454 shares of the business services provider’s stock worth $2,399,000 after acquiring an additional 1,835 shares in the last quarter. Verdence Capital Advisors LLC boosted its holdings in shares of SP Plus by 3.4% in the 3rd quarter. Verdence Capital Advisors LLC now owns 58,717 shares of the business services provider’s stock worth $2,120,000 after buying an additional 1,939 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in SP Plus during the third quarter valued at about $108,000. 96.63% of the stock is owned by institutional investors.

SP Plus Company Profile

SP Plus Corporation provides mobility solutions, parking management, ground transportation, baggage, and other ancillary services in North America. 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.