StockNews.com assumed coverage on shares of SP Plus (NASDAQ:SP – Get Free Report) in a research note issued to investors on Tuesday. The firm set a “hold” rating on the business services provider’s stock.
Separately, TheStreet lowered shares of SP Plus from a “b” rating to a “c+” rating in a report on Tuesday, February 27th.
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SP Plus Price Performance
SP Plus (NASDAQ:SP – Get Free Report) last released 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 22.49% and a net margin of 1.74%. The firm had revenue of $217.20 million for the quarter, compared to analyst estimates of $235.44 million. Equities analysts predict that SP Plus will post 3.42 earnings per share for the current year.
Institutional Trading of SP Plus
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC increased its stake in shares of SP Plus by 868.4% in the fourth quarter. Parallel Advisors LLC now owns 552 shares of the business services provider’s stock worth $28,000 after buying an additional 495 shares during the last quarter. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of SP Plus in the fourth quarter worth $61,000. Quest Partners LLC bought a new stake in shares of SP Plus in the fourth quarter worth $73,000. Quantbot Technologies LP bought a new stake in shares of SP Plus in the third quarter worth $101,000. Finally, SG Americas Securities LLC bought a new stake in shares of SP Plus in the third quarter worth $108,000. Institutional investors own 93.98% of the company’s stock.
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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