SP Plus Corp (NASDAQ:SP) Shares Sold by Summit Global Investments

Summit Global Investments reduced its stake in shares of SP Plus Corp (NASDAQ:SP) by 10.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,500 shares of the business services provider’s stock after selling 2,400 shares during the period. Summit Global Investments’ holdings in SP Plus were worth $734,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. OLD Second National Bank of Aurora purchased a new stake in shares of SP Plus in the 1st quarter worth about $26,000. Investors Research Corp purchased a new stake in shares of SP Plus in the 1st quarter worth about $27,000. Advisor Group Inc. boosted its position in shares of SP Plus by 163.9% in the 1st quarter. Advisor Group Inc. now owns 1,000 shares of the business services provider’s stock worth $35,000 after buying an additional 621 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of SP Plus by 57.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 1,279 shares of the business services provider’s stock worth $38,000 after buying an additional 467 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of SP Plus by 18.2% in the 4th quarter. Legal & General Group Plc now owns 4,234 shares of the business services provider’s stock worth $125,000 after buying an additional 653 shares in the last quarter. Institutional investors own 98.61% of the company’s stock.

In related news, EVP Gerard M. Klaisle sold 1,060 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $35.00, for a total value of $37,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Toy sold 2,500 shares of the business’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $33.04, for a total transaction of $82,600.00. The disclosure for this sale can be found here. Insiders sold a total of 3,760 shares of company stock valued at $126,700 in the last three months. 1.10% of the stock is currently owned by corporate insiders.

Several equities research analysts recently commented on SP shares. BidaskClub lowered shares of SP Plus from a “buy” rating to a “hold” rating in a research report on Thursday, March 7th. ValuEngine lowered shares of SP Plus from a “hold” rating to a “sell” rating in a research report on Thursday, April 4th. Barrington Research reiterated a “buy” rating and issued a $43.00 price objective on shares of SP Plus in a research report on Friday, February 22nd. Finally, Zacks Investment Research upgraded shares of SP Plus from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research report on Tuesday, May 7th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $43.00.

Shares of SP stock opened at $32.23 on Friday. SP Plus Corp has a twelve month low of $27.13 and a twelve month high of $41.35. The stock has a market capitalization of $736.58 million, a P/E ratio of 13.77, a PEG ratio of 1.24 and a beta of 1.08. The company has a debt-to-equity ratio of 1.93, a current ratio of 0.58 and a quick ratio of 0.58.

SP Plus (NASDAQ:SP) last announced its earnings results on Wednesday, May 1st. The business services provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.15. SP Plus had a net margin of 3.21% and a return on equity of 15.92%. The firm had revenue of $409.40 million during the quarter, compared to the consensus estimate of $234.85 million. On average, analysts expect that SP Plus Corp will post 2.61 EPS for the current year.

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About SP Plus

SP Plus Corp. provides professional parking, ground transportation, facility maintenance, security, event logistics, and baggage handling and related services to commercial, institutional, municipal and aviation clients. It also provides a wide range of event logistics services. The company was founded in 1929 and is headquartered in Chicago, IL.

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

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