River Road Asset Management LLC grew its stake in shares of SP Plus Co. (NASDAQ:SP) by 7.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 973,174 shares of the business services provider’s stock after acquiring an additional 64,080 shares during the period. River Road Asset Management LLC’s holdings in SP Plus were worth $29,769,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SP. Sei Investments Co. lifted its position in shares of SP Plus by 0.3% during the 2nd quarter. Sei Investments Co. now owns 149,449 shares of the business services provider’s stock valued at $4,572,000 after buying an additional 483 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in SP Plus by 8.2% in the 1st quarter. Principal Financial Group Inc. now owns 9,757 shares of the business services provider’s stock worth $320,000 after purchasing an additional 741 shares in the last quarter. Swiss National Bank lifted its holdings in SP Plus by 2.8% in the 2nd quarter. Swiss National Bank now owns 51,000 shares of the business services provider’s stock worth $1,560,000 after purchasing an additional 1,400 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in SP Plus by 8.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 28,831 shares of the business services provider’s stock worth $946,000 after acquiring an additional 2,357 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in SP Plus by 38.1% in the 1st quarter. Royal Bank of Canada now owns 10,427 shares of the business services provider’s stock worth $342,000 after acquiring an additional 2,879 shares during the last quarter. Institutional investors own 88.15% of the company’s stock.
A number of analysts have issued reports on the company. Barrington Research reaffirmed a “buy” rating and issued a $42.00 price objective on shares of SP Plus in a research note on Wednesday, August 18th. Zacks Investment Research raised SP Plus from a “hold” rating to a “strong-buy” rating and set a $38.00 price objective on the stock in a research note on Tuesday, August 3rd.
SP Plus (NASDAQ:SP) last released its earnings results on Tuesday, July 27th. The business services provider reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.25. The firm had revenue of $141.20 million for the quarter, compared to the consensus estimate of $136.93 million. SP Plus had a positive return on equity of 16.16% and a negative net margin of 7.66%. As a group, equities analysts predict that SP Plus Co. will post 1.71 EPS for the current year.
SP Plus Profile
SP Plus Corp. provides professional parking, ground transportation, facility maintenance, security, event logistics, and baggage handling and related services to commercial, institutional, municipal and aviation clients. It also provides a wide range of event logistics services. The firm operates through the following segments: Commercial, Aviation, and Other.
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