SP Plus Corporation (SP) Director Sells $2,433,900.00 in Stock
SP Plus Corporation (NASDAQ:SP) Director Robert S. Roath sold 70,000 shares of SP Plus Corporation stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $34.77, for a total value of $2,433,900.00. Following the sale, the director now owns 36,936 shares in the company, valued at $1,284,264.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shares of SP Plus Corporation (NASDAQ SP) traded up 1.72% during mid-day trading on Thursday, hitting $35.55. The company’s stock had a trading volume of 187,569 shares. The company has a market cap of $789.28 million, a price-to-earnings ratio of 20.64 and a beta of 1.01. The stock’s 50 day moving average price is $31.90 and its 200 day moving average price is $31.34. SP Plus Corporation has a 52-week low of $22.60 and a 52-week high of $38.55.
SP Plus Corporation (NASDAQ:SP) last announced its earnings results 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 company had revenue of $415.40 million for the quarter, compared to analysts’ expectations of $223.35 million. Equities analysts forecast that SP Plus Corporation will post $1.71 EPS for the current year.
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A number of brokerages recently commented on SP. Zacks Investment Research lowered SP Plus Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. BidaskClub upgraded SP Plus Corporation from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, ValuEngine lowered SP Plus Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st.
A number of large investors have recently bought and sold shares of the stock. Principal Financial Group Inc. acquired a new stake in SP Plus Corporation during the second quarter worth approximately $11,150,000. Thompson Siegel & Walmsley LLC acquired a new stake in SP Plus Corporation during the second quarter worth approximately $8,260,000. Schwab Charles Investment Management Inc. boosted its stake in SP Plus Corporation by 134.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 180,664 shares of the business services provider’s stock worth $5,520,000 after buying an additional 103,573 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in SP Plus Corporation by 18.7% in the second quarter. Wedge Capital Management L L P NC now owns 623,290 shares of the business services provider’s stock worth $19,042,000 after buying an additional 98,127 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in SP Plus Corporation by 36.9% in the first quarter. Nuveen Asset Management LLC now owns 331,891 shares of the business services provider’s stock worth $11,201,000 after buying an additional 89,455 shares in the last quarter. 74.75% of the stock is currently owned by institutional investors and hedge funds.
About SP Plus Corporation
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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