StockNews.com initiated coverage on shares of SP Plus (NASDAQ:SP – Free Report) in a report published on Sunday morning. The brokerage issued a hold rating on the business services provider’s stock.
SP Plus Price Performance
Shares of SP Plus stock remained flat at $53.99 during trading on Friday. 200 shares of the stock were exchanged, compared to its average volume of 225,382. SP Plus has a 52 week low of $34.17 and a 52 week high of $54.42. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.73 and a current ratio of 0.73. The firm’s 50 day moving average price is $53.99 and its 200-day moving average price is $52.56. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 35.52 and a beta of 1.22.
Institutional Investors Weigh In On SP Plus
Hedge funds and other institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC boosted its holdings in SP Plus by 868.4% in the 4th quarter. Parallel Advisors LLC now owns 552 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 495 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in SP Plus by 13.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,598 shares of the business services provider’s stock worth $293,000 after acquiring an additional 650 shares during the last quarter. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of SP Plus in the 4th quarter worth $61,000. Quest Partners LLC bought a new position in shares of SP Plus in the fourth quarter worth about $73,000. Finally, Principal Financial Group Inc. increased its holdings in SP Plus by 26.6% in the 4th quarter. Principal Financial Group Inc. now owns 7,246 shares of the business services provider’s stock valued at $371,000 after acquiring an additional 1,523 shares during the last quarter. 93.98% of the stock is owned by institutional investors.
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.
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