Morgan Stanley decreased its stake in SP Plus Corporation (NASDAQ:SP) by 12.4% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 59,759 shares of the business services provider’s stock after selling 8,437 shares during the period. Morgan Stanley owned 0.27% of SP Plus Corporation worth $2,018,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in SP. Vanguard Group Inc. boosted its stake in SP Plus Corporation by 2.1% in the first quarter. Vanguard Group Inc. now owns 770,768 shares of the business services provider’s stock valued at $26,014,000 after buying an additional 16,143 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in SP Plus Corporation by 4.4% in the first quarter. Dimensional Fund Advisors LP now owns 767,223 shares of the business services provider’s stock valued at $25,894,000 after buying an additional 32,493 shares during the last quarter. Eagle Boston Investment Management Inc. boosted its stake in SP Plus Corporation by 5.7% in the first quarter. Eagle Boston Investment Management Inc. now owns 318,708 shares of the business services provider’s stock valued at $10,756,000 after buying an additional 17,073 shares during the last quarter. Geode Capital Management LLC boosted its stake in SP Plus Corporation by 10.4% in the first quarter. Geode Capital Management LLC now owns 157,570 shares of the business services provider’s stock valued at $5,317,000 after buying an additional 14,827 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in SP Plus Corporation by 2.9% in the first quarter. Wells Fargo & Company MN now owns 117,552 shares of the business services provider’s stock valued at $3,968,000 after buying an additional 3,328 shares during the last quarter. Hedge funds and other institutional investors own 94.68% of the company’s stock.

Shares of SP Plus Corporation (NASDAQ SP) remained flat at $37.40 during midday trading on Tuesday. 205,023 shares of the stock traded hands. SP Plus Corporation has a 52 week low of $22.60 and a 52 week high of $38.55. The stock has a 50 day moving average price of $33.88 and a 200-day moving average price of $32.01. The firm has a market capitalization of $830.35 million, a price-to-earnings ratio of 21.72 and a beta of 1.01.

SP Plus Corporation (NASDAQ:SP) last announced its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.53 EPS for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.11. SP Plus Corporation had a return on equity of 13.82% and a net margin of 2.36%. The firm had revenue of $415.40 million during the quarter, compared to analyst estimates of $223.35 million. On average, equities analysts expect that SP Plus Corporation will post $1.69 earnings per share for the current fiscal year.

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A number of equities research analysts have weighed in on SP shares. Zacks Investment Research upgraded shares of SP Plus Corporation from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a research report on Friday, August 4th. BidaskClub upgraded shares of SP Plus Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday. Finally, ValuEngine cut shares of SP Plus Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st.

In other SP Plus Corporation news, Director Robert S. Roath sold 70,000 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $34.77, for a total transaction of $2,433,900.00. Following the completion of the sale, the director now directly owns 36,936 shares in the company, valued at approximately $1,284,264.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.40% of the company’s stock.

SP Plus Corporation 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.

Institutional Ownership by Quarter for SP Plus Corporation (NASDAQ:SP)

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