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

StockNews.com began coverage on shares of SP Plus (NASDAQ:SP) 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

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.