Victory Capital Management Inc. Grows Stake in SP Plus Corp (SP)

Victory Capital Management Inc. lifted its holdings in SP Plus Corp (NASDAQ:SP) by 47.8% during the third quarter, HoldingsChannel.com reports. The fund owned 54,874 shares of the business services provider’s stock after buying an additional 17,751 shares during the quarter. Victory Capital Management Inc.’s holdings in SP Plus were worth $2,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. Ramsey Quantitative Systems boosted its holdings in SP Plus by 102.5% during the third quarter. Ramsey Quantitative Systems now owns 4,539 shares of the business services provider’s stock worth $166,000 after buying an additional 2,297 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its holdings in SP Plus by 30.5% during the second quarter. Metropolitan Life Insurance Co. NY now owns 7,462 shares of the business services provider’s stock worth $278,000 after buying an additional 1,744 shares in the last quarter. We Are One Seven LLC purchased a new stake in SP Plus during the third quarter worth $285,000. MetLife Investment Advisors LLC boosted its holdings in SP Plus by 21.7% during the second quarter. MetLife Investment Advisors LLC now owns 10,567 shares of the business services provider’s stock worth $393,000 after buying an additional 1,884 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC purchased a new stake in SP Plus during the second quarter worth $438,000. Hedge funds and other institutional investors own 97.57% of the company’s stock.

A number of analysts recently issued reports on the stock. BidaskClub downgraded shares of SP Plus from a “buy” rating to a “hold” rating in a report on Saturday, August 25th. Zacks Investment Research downgraded shares of SP Plus from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Barrington Research increased their price objective on shares of SP Plus from $42.00 to $43.00 and gave the company an “outperform” rating in a report on Monday, August 6th. ValuEngine downgraded shares of SP Plus from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Finally, Sidoti decreased their price objective on shares of SP Plus from $52.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday, October 10th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. SP Plus has a consensus rating of “Hold” and an average price target of $44.00.

SP opened at $29.88 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.24. The firm has a market cap of $679.47 million, a price-to-earnings ratio of 13.83, a P/E/G ratio of 1.34 and a beta of 1.11. SP Plus Corp has a 52-week low of $29.68 and a 52-week high of $41.70.

SP Plus (NASDAQ:SP) last posted its quarterly earnings data on Wednesday, October 31st. The business services provider reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.03. The business had revenue of $362.10 million for the quarter, compared to the consensus estimate of $190.74 million. SP Plus had a net margin of 3.50% and a return on equity of 14.51%. On average, research analysts anticipate that SP Plus Corp will post 2.24 earnings per share for the current fiscal year.

In other SP Plus news, CEO G Marc Baumann sold 1,000 shares of the stock in a transaction on Monday, October 1st. The shares were sold at an average price of $36.50, for a total transaction of $36,500.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.00% of the company’s stock.

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About SP Plus

SP Plus Corporation provides parking management, ground transportation, and other ancillary services to commercial, institutional, and municipal clients in the United States, Puerto Rico, and Canada. It provides facility maintenance, event logistics, security services, training, scheduling, and supervising of service personnel; and customer services, marketing, and accounting and revenue control functions to facilitate the operation of its clients' facilities or events.

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

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