SP Plus (NASDAQ:SP) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of SP Plus (NASDAQ:SPFree Report) in a report published on Sunday morning. The brokerage issued a hold rating on the business services provider’s stock.

SP Plus Stock Performance

NASDAQ:SP remained flat at $53.99 on Friday. The company’s stock had a trading volume of 200 shares, compared to its average volume of 225,382. The stock has a market capitalization of $1.07 billion, a PE ratio of 35.52 and a beta of 1.22. 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 business has a fifty day moving average of $53.99 and a two-hundred day moving average of $52.56. SP Plus has a 12 month low of $34.17 and a 12 month high of $54.42.

Institutional Investors Weigh In On SP Plus

Several hedge funds have recently modified their holdings of SP. Parallel Advisors LLC grew its position in shares of SP Plus by 868.4% in the 4th quarter. Parallel Advisors LLC now owns 552 shares of the business services provider’s stock worth $28,000 after acquiring an additional 495 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of SP Plus by 13.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,598 shares of the business services provider’s stock worth $293,000 after purchasing an additional 650 shares during the period. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of SP Plus during the fourth quarter valued at $61,000. Quest Partners LLC purchased a new position in SP Plus in the fourth quarter valued at about $73,000. Finally, Principal Financial Group Inc. boosted its stake in shares of SP Plus by 26.6% during the 4th quarter. Principal Financial Group Inc. now owns 7,246 shares of the business services provider’s stock worth $371,000 after acquiring an additional 1,523 shares in the last quarter. 93.98% of the stock is currently owned by hedge funds and other institutional investors.

SP Plus Company Profile

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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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