Victory Capital Management Inc. cut its position in shares of SP Plus Co. (NASDAQ:SP – Free Report) by 6.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,556 shares of the business services provider’s stock after selling 1,444 shares during the period. Victory Capital Management Inc. owned 0.10% of SP Plus worth $765,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the company. Great Lakes Advisors LLC acquired a new position in SP Plus in the 1st quarter valued at about $6,973,000. William Blair Investment Management LLC grew its stake in SP Plus by 13.3% in the 1st quarter. William Blair Investment Management LLC now owns 939,139 shares of the business services provider’s stock valued at $32,203,000 after buying an additional 110,376 shares during the last quarter. Mesirow Institutional Investment Management Inc. acquired a new position in SP Plus in the 1st quarter valued at about $3,457,000. Wellington Management Group LLP grew its stake in SP Plus by 5.9% in the 1st quarter. Wellington Management Group LLP now owns 1,434,482 shares of the business services provider’s stock valued at $44,985,000 after buying an additional 80,286 shares during the last quarter. Finally, LSV Asset Management grew its stake in SP Plus by 218.0% in the 1st quarter. LSV Asset Management now owns 107,325 shares of the business services provider’s stock valued at $3,680,000 after buying an additional 73,573 shares during the last quarter. 96.63% of the stock is currently owned by institutional investors and hedge funds.
SP Plus Stock Performance
Shares of SP Plus stock opened at $50.64 on Thursday. The company has a 50 day moving average of $42.49 and a 200-day moving average of $39.44. SP Plus Co. has a 1-year low of $31.52 and a 1-year high of $52.40. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.46. The company has a market cap of $995.08 million, a PE ratio of 25.84 and a beta of 1.34.
Analysts Set New Price Targets
A number of research analysts have issued reports on SP shares. William Blair lowered shares of SP Plus from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 5th. Barrington Research restated a “market perform” rating on shares of SP Plus in a research report on Friday, October 20th. Finally, StockNews.com started coverage on shares of SP Plus in a research report on Sunday. They set a “hold” rating on the stock.
About SP Plus
SP Plus Corporation provides mobility solutions, parking management, ground transportation, baggage, and other ancillary services in North America. 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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