First Trust Advisors LP Acquires 3,134 Shares of SP Plus Corporation (SP)
First Trust Advisors LP increased its holdings in shares of SP Plus Corporation (NASDAQ:SP) by 21.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,868 shares of the business services provider’s stock after purchasing an additional 3,134 shares during the period. First Trust Advisors LP owned 0.08% of SP Plus worth $706,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of SP. US Bancorp DE lifted its stake in shares of SP Plus by 3.1% in the 2nd quarter. US Bancorp DE now owns 3,329 shares of the business services provider’s stock worth $102,000 after acquiring an additional 100 shares during the period. Legal & General Group Plc lifted its stake in shares of SP Plus by 5.0% in the 2nd quarter. Legal & General Group Plc now owns 4,205 shares of the business services provider’s stock worth $129,000 after acquiring an additional 200 shares during the period. Acadian Asset Management LLC lifted its stake in shares of SP Plus by 678.9% in the 2nd quarter. Acadian Asset Management LLC now owns 5,748 shares of the business services provider’s stock worth $176,000 after acquiring an additional 5,010 shares during the period. California Public Employees Retirement System acquired a new stake in shares of SP Plus in the 2nd quarter worth $214,000. Finally, BlueCrest Capital Management Ltd acquired a new stake in shares of SP Plus in the 2nd quarter worth $221,000. Hedge funds and other institutional investors own 96.57% of the company’s stock.
Shares of SP Plus Corporation (NASDAQ:SP) opened at $39.20 on Friday. SP Plus Corporation has a 52 week low of $27.05 and a 52 week high of $41.25. The company has a market cap of $886.19, a price-to-earnings ratio of 21.50, a PEG ratio of 2.31 and a beta of 1.00. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.50.
SP Plus (NASDAQ:SP) last announced its quarterly earnings results on Wednesday, November 1st. The business services provider reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.08. The business had revenue of $392.70 million during the quarter, compared to the consensus estimate of $228.10 million. SP Plus had a net margin of 2.64% and a return on equity of 14.29%. equities research analysts expect that SP Plus Corporation will post 1.7 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. BidaskClub upgraded shares of SP Plus from a “buy” rating to a “strong-buy” rating in a research note on Thursday, September 28th. Zacks Investment Research upgraded shares of SP Plus from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Saturday, November 4th. Finally, ValuEngine cut shares of SP Plus from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd.
In other news, major shareholder Walter S. Woltosz sold 18,500 shares of the stock in a transaction dated Saturday, October 28th. The shares were sold at an average price of $16.37, for a total value of $302,845.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.40% of the company’s stock.
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SP Plus Company Profile
SP Plus Corporation (SP Plus) is a provider of parking management, ground transportation and other ancillary services to commercial, institutional and municipal clients in the United States, Puerto Rico and Canada. The Company’s segments include Region One (Urban), Region Two (Airport transportation), Region Three and Other.
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