BlackRock Inc. Buys 43,696 Shares of SP Plus Corp (SP)

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BlackRock Inc. increased its stake in SP Plus Corp (NASDAQ:SP) by 2.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,572,379 shares of the business services provider’s stock after purchasing an additional 43,696 shares during the quarter. BlackRock Inc. owned approximately 0.07% of SP Plus worth $57,393,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Martingale Asset Management L P grew its holdings in shares of SP Plus by 12.9% during the third quarter. Martingale Asset Management L P now owns 120,631 shares of the business services provider’s stock valued at $4,404,000 after buying an additional 13,795 shares during the last quarter. Granite Investment Partners LLC grew its holdings in shares of SP Plus by 4.1% during the third quarter. Granite Investment Partners LLC now owns 346,209 shares of the business services provider’s stock valued at $12,637,000 after buying an additional 13,791 shares during the last quarter. Eagle Boston Investment Management Inc. grew its holdings in shares of SP Plus by 9.3% during the third quarter. Eagle Boston Investment Management Inc. now owns 352,765 shares of the business services provider’s stock valued at $12,875,000 after buying an additional 30,067 shares during the last quarter. AXA grew its holdings in shares of SP Plus by 314.9% during the third quarter. AXA now owns 50,200 shares of the business services provider’s stock valued at $1,832,000 after buying an additional 38,100 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in SP Plus by 26.3% in the third quarter. Alliancebernstein L.P. now owns 69,720 shares of the business services provider’s stock valued at $2,545,000 after purchasing an additional 14,500 shares during the last quarter. 97.60% of the stock is currently owned by institutional investors.

Shares of SP Plus stock opened at $33.25 on Friday. The stock has a market capitalization of $722.01 million, a price-to-earnings ratio of 19.56, a PEG ratio of 1.23 and a beta of 0.99. SP Plus Corp has a fifty-two week low of $27.13 and a fifty-two week high of $41.70. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.84 and a quick ratio of 0.84.

SP Plus (NASDAQ:SP) last issued its quarterly earnings data on Wednesday, October 31st. The business services provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. The business had revenue of $362.10 million during 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, sell-side analysts predict that SP Plus Corp will post 2.22 earnings per share for the current year.

Several research firms have commented on SP. BidaskClub raised shares of SP Plus from a “sell” rating to a “hold” rating in a report on Friday. ValuEngine raised shares of SP Plus from a “sell” rating to a “hold” rating in a report on Thursday. Barrington Research reaffirmed a “buy” rating and issued a $43.00 price target on shares of SP Plus in a report on Tuesday, December 4th. Zacks Investment Research upgraded shares of SP Plus from a “sell” rating to a “hold” rating in a research report on Friday, November 16th. Finally, Sidoti decreased their price objective on shares of SP Plus from $52.00 to $48.00 and set a “buy” rating for the company in a research report on Wednesday, October 10th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $44.00.

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SP Plus Profile

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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