Allspring Global Investments Holdings LLC Trims Stake in SP Plus Co. (NASDAQ:SP)

Allspring Global Investments Holdings LLC lowered its stake in shares of SP Plus Co. (NASDAQ:SP) by 7.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,192 shares of the business services provider’s stock after selling 604 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in SP Plus were worth $281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wellington Management Group LLP grew its holdings in SP Plus by 5.9% in the first quarter. Wellington Management Group LLP now owns 1,434,482 shares of the business services provider’s stock worth $44,985,000 after purchasing an additional 80,286 shares during the period. Vanguard Group Inc. lifted its position in SP Plus by 3.2% during the third quarter. Vanguard Group Inc. now owns 1,263,244 shares of the business services provider’s stock valued at $39,565,000 after purchasing an additional 39,535 shares during the period. William Blair Investment Management LLC lifted its position in SP Plus by 13.3% during the first quarter. William Blair Investment Management LLC now owns 939,139 shares of the business services provider’s stock valued at $32,203,000 after purchasing an additional 110,376 shares during the period. Aristotle Capital Boston LLC lifted its position in SP Plus by 1.4% during the first quarter. Aristotle Capital Boston LLC now owns 856,606 shares of the business services provider’s stock valued at $29,373,000 after purchasing an additional 11,432 shares during the period. Finally, ArrowMark Colorado Holdings LLC lifted its position in SP Plus by 7.1% during the first quarter. ArrowMark Colorado Holdings LLC now owns 520,418 shares of the business services provider’s stock valued at $17,845,000 after purchasing an additional 34,561 shares during the period. Hedge funds and other institutional investors own 96.63% of the company’s stock.

SP Plus Price Performance

SP stock opened at $50.80 on Friday. The company has a fifty day simple moving average of $44.15 and a two-hundred day simple moving average of $40.26. The firm has a market capitalization of $998.22 million, a P/E ratio of 29.20 and a beta of 1.25. The company has a quick ratio of 0.76, a current ratio of 0.78 and a debt-to-equity ratio of 1.37. SP Plus Co. has a 52 week low of $31.52 and a 52 week high of $52.40.

Analysts Set New Price Targets

SP has been the subject of a number of analyst reports. StockNews.com initiated coverage on shares of SP Plus in a research note on Monday, November 6th. They issued a “hold” rating for the company. Barrington Research reissued a “market perform” rating on shares of SP Plus in a research note on Friday, October 20th. Finally, William Blair cut shares of SP Plus from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 5th.

SP Plus 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.