Zurcher Kantonalbank Zurich Cantonalbank Sells 1,248 Shares of SP Plus Co. (NASDAQ:SP)

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in shares of SP Plus Co. (NASDAQ:SP) by 28.0% during the fourth quarter, Holdings Channel reports. The fund owned 3,217 shares of the business services provider’s stock after selling 1,248 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in SP Plus were worth $165,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in SP. Swiss National Bank grew its holdings in SP Plus by 0.9% in the 3rd quarter. Swiss National Bank now owns 43,200 shares of the business services provider’s stock valued at $1,560,000 after buying an additional 400 shares in the last quarter. Citigroup Inc. grew its position in 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 in the last quarter. Janney Montgomery Scott LLC increased its stake in SP Plus by 3.6% during the 3rd quarter. Janney Montgomery Scott LLC now owns 41,848 shares of the business services provider’s stock worth $1,511,000 after acquiring an additional 1,466 shares during the period. Deutsche Bank AG raised its holdings in SP Plus by 12.2% in the 3rd quarter. Deutsche Bank AG now owns 16,517 shares of the business services provider’s stock valued at $596,000 after acquiring an additional 1,792 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC grew its holdings in shares of SP Plus by 2.8% during 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 purchasing an additional 1,835 shares in the last quarter. Institutional investors and hedge funds own 93.98% of the company’s stock.

SP Plus Stock Up 0.1 %

SP stock opened at $51.53 on Thursday. The stock has a market capitalization of $1.02 billion, a P/E ratio of 33.90 and a beta of 1.22. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 1.34. The firm has a 50-day moving average price of $51.63 and a 200-day moving average price of $51.32. SP Plus Co. has a 12 month low of $33.89 and a 12 month high of $52.56.

SP Plus (NASDAQ:SP) last announced its quarterly earnings results on Tuesday, February 27th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $235.44 million. As a group, equities research analysts anticipate that SP Plus Co. will post 3.26 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SP shares. TheStreet cut shares of SP Plus from a “b” rating to a “c+” rating in a research report on Tuesday, February 27th. StockNews.com initiated coverage on SP Plus in a report on Wednesday. They issued a “hold” rating on the stock.

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.