SP Plus Corporation (NASDAQ:SP) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Other analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of SP Plus Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. ValuEngine cut shares of SP Plus Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st.

Shares of SP Plus Corporation (NASDAQ:SP) remained flat at $34.95 on Wednesday. The company had a trading volume of 18,979 shares. The stock has a market cap of $775.96 million, a PE ratio of 20.30 and a beta of 1.01. The company’s 50 day moving average price is $31.47 and its 200-day moving average price is $31.17. SP Plus Corporation has a 1-year low of $22.60 and a 1-year high of $38.55.

SP Plus Corporation (NASDAQ:SP) last issued its earnings results on Tuesday, August 1st. The business services provider reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.11. The firm had revenue of $415.40 million during the quarter, compared to analysts’ expectations of $223.35 million. SP Plus Corporation had a net margin of 2.36% and a return on equity of 13.82%. Equities research analysts expect that SP Plus Corporation will post $1.65 EPS for the current fiscal year.

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In related news, major shareholder Cpc Rep L.L.C. Kohlberg sold 2,625,415 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $29.20, for a total value of $76,662,118.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.40% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. US Bancorp DE raised its position in SP Plus Corporation by 3.1% in the second quarter. US Bancorp DE now owns 3,329 shares of the business services provider’s stock worth $102,000 after buying an additional 100 shares in the last quarter. Legal & General Group Plc raised its position in SP Plus Corporation by 5.0% in the second quarter. Legal & General Group Plc now owns 4,205 shares of the business services provider’s stock worth $129,000 after buying an additional 200 shares in the last quarter. Acadian Asset Management LLC raised its position in SP Plus Corporation by 678.9% in the second quarter. Acadian Asset Management LLC now owns 5,748 shares of the business services provider’s stock worth $176,000 after buying an additional 5,010 shares in the last quarter. Sawgrass Asset Management LLC purchased a new position in SP Plus Corporation during the first quarter worth approximately $243,000. Finally, Citadel Advisors LLC purchased a new position in SP Plus Corporation during the first quarter worth approximately $246,000. 74.75% of the stock is owned by hedge funds and other institutional investors.

About SP Plus Corporation

SP Plus Corporation (SP Plus) is a provider of parking management, ground transportation and other ancillary services to commercial, institutional and municipal clients in the United States, Puerto Rico and Canada. The Company’s segments include Region One (Urban), Region Two (Airport transportation), Region Three and Other.

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