Municipal Employees Retirement System of Michigan decreased its stake in shares of SP Plus Corporation (NASDAQ:SP) by 21.6% during the second quarter, Holdings Channel reports. The fund owned 34,110 shares of the business services provider’s stock after selling 9,410 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in SP Plus Corporation were worth $1,042,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of 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 worth $26,014,000 after buying an additional 16,143 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of 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 worth $25,894,000 after buying an additional 32,493 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of SP Plus Corporation by 26.0% in the first quarter. Renaissance Technologies LLC now owns 343,100 shares of the business services provider’s stock worth $11,580,000 after buying an additional 70,800 shares during the last quarter. Nuveen Asset Management LLC increased its stake in shares of 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 during the last quarter. Finally, Eagle Boston Investment Management Inc. increased its stake in shares of 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 worth $10,756,000 after buying an additional 17,073 shares during the last quarter. Institutional investors and hedge funds own 74.75% of the company’s stock.

SP Plus Corporation (SP) opened at 35.55 on Friday. The firm’s 50-day moving average price is $32.08 and its 200-day moving average price is $31.37. SP Plus Corporation has a 12 month low of $22.60 and a 12 month high of $38.55. The stock has a market cap of $789.28 million, a P/E ratio of 20.64 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 earnings per share for the quarter, beating 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 analyst estimates of $223.35 million. On average, analysts predict that SP Plus Corporation will post $1.71 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: This article was originally posted by Watch List News and is owned by of Watch List News. If you are viewing this article on another publication, it was copied illegally and republished in violation of United States and international copyright legislation. The original version of this article can be read at https://www.watchlistnews.com/sp-plus-corporation-sp-shares-sold-by-municipal-employees-retirement-system-of-michigan/1472179.html.

SP has been the topic of a number of recent research reports. Zacks Investment Research upgraded SP Plus Corporation from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research note on Friday, August 4th. ValuEngine downgraded SP Plus Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, BidaskClub upgraded SP Plus Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday.

In other news, major shareholder Cpc Rep L.L.C. Kohlberg sold 2,625,415 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $29.20, for a total transaction of $76,662,118.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert S. Roath sold 70,000 shares of the business’s stock in a transaction that occurred 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 directly owns 36,936 shares in the company, valued at approximately $1,284,264.72. The disclosure for this sale can be found here. 1.40% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding SP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SP Plus Corporation (NASDAQ:SP).

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

Receive News & Ratings for SP Plus Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SP Plus Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.