Principal Financial Group Inc. Sells 3,597 Shares of SP Plus Corporation (SP)
Principal Financial Group Inc. decreased its holdings in shares of SP Plus Corporation (NASDAQ:SP) by 1.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 361,381 shares of the business services provider’s stock after selling 3,597 shares during the period. Principal Financial Group Inc. owned about 1.63% of SP Plus worth $14,274,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Smith Asset Management Group LP bought a new position in shares of SP Plus during the third quarter worth about $2,354,000. Prudential Financial Inc. grew its position in shares of SP Plus by 24.8% during the third quarter. Prudential Financial Inc. now owns 115,976 shares of the business services provider’s stock worth $4,581,000 after acquiring an additional 23,010 shares during the last quarter. IndexIQ Advisors LLC grew its position in shares of SP Plus by 83.2% during the third quarter. IndexIQ Advisors LLC now owns 25,682 shares of the business services provider’s stock worth $1,014,000 after acquiring an additional 11,665 shares during the last quarter. American Century Companies Inc. grew its position in shares of SP Plus by 38.5% during the third quarter. American Century Companies Inc. now owns 109,062 shares of the business services provider’s stock worth $4,308,000 after acquiring an additional 30,335 shares during the last quarter. Finally, Chicago Equity Partners LLC grew its position in shares of SP Plus by 207.0% during the third quarter. Chicago Equity Partners LLC now owns 51,150 shares of the business services provider’s stock worth $2,020,000 after acquiring an additional 34,490 shares during the last quarter. Hedge funds and other institutional investors own 96.51% of the company’s stock.
SP has been the subject of several recent research reports. BidaskClub lowered shares of SP Plus from a “buy” rating to a “hold” rating in a research report on Saturday, November 4th. ValuEngine upgraded shares of SP Plus from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Zacks Investment Research lowered shares of SP Plus from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th.
In related news, major shareholder Walter S. Woltosz sold 18,500 shares of the company’s stock in a transaction dated Saturday, October 28th. The shares were sold at an average price of $16.37, for a total value of $302,845.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.40% of the company’s stock.
SP Plus Corporation (SP) opened at $39.60 on Thursday. The company has a market cap of $885.06, a PE ratio of 21.48, a PEG ratio of 2.31 and a beta of 1.01. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.50. SP Plus Corporation has a 12-month low of $27.05 and a 12-month high of $41.25.
SP Plus (NASDAQ:SP) last released its quarterly earnings results on Wednesday, November 1st. The business services provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.42 by $0.08. The business had revenue of $392.70 million during the quarter, compared to analyst estimates of $228.10 million. SP Plus had a net margin of 2.64% and a return on equity of 14.29%. research analysts expect that SP Plus Corporation will post 1.7 EPS for the current fiscal year.
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SP Plus Company Profile
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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