Third Avenue Management LLC Acquires 29,000 Shares of SP Plus Corporation (SP)
Third Avenue Management LLC raised its holdings in SP Plus Corporation (NASDAQ:SP) by 17.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 198,423 shares of the business services provider’s stock after buying an additional 29,000 shares during the period. Third Avenue Management LLC owned approximately 0.89% of SP Plus Corporation worth $6,062,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. Tudor Investment Corp ET AL purchased a new position in SP Plus Corporation in the 2nd quarter valued at approximately $382,000. PDT Partners LLC boosted its position in SP Plus Corporation by 240.5% in the 2nd quarter. PDT Partners LLC now owns 39,500 shares of the business services provider’s stock valued at $1,207,000 after buying an additional 27,900 shares during the period. Numeric Investors LLC purchased a new position in SP Plus Corporation in the 2nd quarter valued at approximately $354,000. Zacks Investment Management purchased a new position in SP Plus Corporation in the 2nd quarter valued at approximately $301,000. Finally, Voya Investment Management LLC boosted its position in SP Plus Corporation by 8.4% in the 2nd quarter. Voya Investment Management LLC now owns 11,965 shares of the business services provider’s stock valued at $366,000 after buying an additional 925 shares during the period. 94.68% of the stock is owned by institutional investors.
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Shares of SP Plus Corporation (NASDAQ SP) traded down 0.63% during midday trading on Friday, hitting $39.50. 98,673 shares of the stock were exchanged. The firm has a market cap of $876.98 million, a P/E ratio of 22.94 and a beta of 0.97. SP Plus Corporation has a 12-month low of $22.60 and a 12-month high of $39.80. The firm has a 50 day moving average of $36.28 and a 200 day moving average of $32.91.
SP Plus Corporation (NASDAQ:SP) last released its quarterly earnings data on Tuesday, August 1st. The business services provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.11. SP Plus Corporation had a net margin of 2.36% and a return on equity of 13.82%. The company had revenue of $415.40 million during the quarter, compared to the consensus estimate of $223.35 million. Equities analysts forecast that SP Plus Corporation will post $1.69 EPS for the current fiscal year.
In other news, Director Robert S. Roath sold 70,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $34.77, for a total value of $2,433,900.00. Following the completion of the transaction, the director now directly owns 36,936 shares in the company, valued at $1,284,264.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is currently owned by corporate insiders.
Several equities analysts have commented on the stock. ValuEngine raised shares of SP Plus Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 9th. BidaskClub cut shares of SP Plus Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Finally, Zacks Investment Research cut shares of SP Plus Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th.
SP Plus Corporation 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.
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