Pacific Capital Wealth Advisors Inc. Acquires Shares of 1,193 SP Plus Co. (NASDAQ:SP)

Pacific Capital Wealth Advisors Inc. bought a new position in SP Plus Co. (NASDAQ:SP) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 1,193 shares of the business services provider’s stock, valued at approximately $61,000.

A number of other large investors have also recently modified their holdings of SP. Tokio Marine Asset Management Co. Ltd. bought a new stake in shares of SP Plus during the 4th quarter valued at $15,391,000. Thompson Siegel & Walmsley LLC grew its holdings in SP Plus by 107.3% in the third quarter. Thompson Siegel & Walmsley LLC now owns 125,278 shares of the business services provider’s stock worth $4,523,000 after purchasing an additional 64,842 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of SP Plus by 510.4% during the third quarter. Assenagon Asset Management S.A. now owns 72,265 shares of the business services provider’s stock valued at $2,609,000 after purchasing an additional 60,427 shares during the last quarter. LSV Asset Management lifted its holdings in shares of SP Plus by 31.8% during the third quarter. LSV Asset Management now owns 238,971 shares of the business services provider’s stock valued at $8,627,000 after purchasing an additional 57,593 shares during the last quarter. Finally, New York Life Investment Management LLC grew its stake in shares of SP Plus by 456.8% in the 4th quarter. New York Life Investment Management LLC now owns 57,812 shares of the business services provider’s stock worth $2,963,000 after buying an additional 47,429 shares during the last quarter. Institutional investors own 93.98% of the company’s stock.

SP Plus Price Performance

SP Plus stock remained flat at $51.50 during mid-day trading on Tuesday. 68,080 shares of the company were exchanged, compared to its average volume of 190,402. The firm has a market cap of $1.02 billion, a P/E ratio of 33.88 and a beta of 1.22. The company’s 50 day moving average price is $51.62 and its 200-day moving average price is $51.32. SP Plus Co. has a 52 week low of $33.89 and a 52 week high of $52.56. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.71 and a quick ratio of 0.71.

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 analysts’ consensus estimates of $0.85 by ($0.25). The firm had revenue of $217.20 million during the quarter, compared to the consensus estimate of $235.44 million. SP Plus had a return on equity of 22.21% and a net margin of 1.68%. On average, equities research analysts anticipate that SP Plus Co. will post 3.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SP shares. StockNews.com began coverage on SP Plus in a research note on Tuesday, April 30th. They set a “hold” rating for the company. TheStreet lowered SP Plus from a “b” rating to a “c+” rating in a research report on Tuesday, February 27th.

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.