Amica Mutual Insurance Co. Buys New Holdings in SP Plus Corp (SP)
Amica Mutual Insurance Co. bought a new position in SP Plus Corp (NASDAQ:SP) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 42,239 shares of the business services provider’s stock, valued at approximately $1,542,000.
Other hedge funds also recently added to or reduced their stakes in the company. Ramsey Quantitative Systems lifted its holdings in shares of SP Plus by 102.5% in the third quarter. Ramsey Quantitative Systems now owns 4,539 shares of the business services provider’s stock worth $166,000 after buying an additional 2,297 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its holdings in shares of SP Plus by 30.5% in the second quarter. Metropolitan Life Insurance Co. NY now owns 7,462 shares of the business services provider’s stock worth $278,000 after buying an additional 1,744 shares in the last quarter. We Are One Seven LLC purchased a new position in shares of SP Plus in the third quarter worth $285,000. Atria Investments LLC lifted its holdings in shares of SP Plus by 26.0% in the second quarter. Atria Investments LLC now owns 9,804 shares of the business services provider’s stock worth $365,000 after buying an additional 2,023 shares in the last quarter. Finally, MetLife Investment Advisors LLC lifted its holdings in shares of SP Plus by 21.7% in the second quarter. MetLife Investment Advisors LLC now owns 10,567 shares of the business services provider’s stock worth $393,000 after buying an additional 1,884 shares in the last quarter. 97.57% of the stock is currently owned by hedge funds and other institutional investors.
Shares of SP opened at $29.92 on Thursday. SP Plus Corp has a fifty-two week low of $29.68 and a fifty-two week high of $41.70. The firm has a market capitalization of $713.37 million, a P/E ratio of 17.60, a price-to-earnings-growth ratio of 1.40 and a beta of 1.11. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.24.
In related news, CEO G Marc Baumann sold 1,000 shares of the business’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $36.50, for a total value of $36,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.
SP has been the topic of several research analyst reports. ValuEngine downgraded shares of SP Plus from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Zacks Investment Research upgraded shares of SP Plus from a “sell” rating to a “hold” rating in a research report on Friday, November 16th. Barrington Research restated a “buy” rating and issued a $43.00 price target on shares of SP Plus in a research report on Friday, October 19th. BidaskClub cut shares of SP Plus from a “sell” rating to a “strong sell” rating in a research report on Saturday, October 6th. Finally, Sidoti reduced their price target on shares of SP Plus from $52.00 to $48.00 and set a “buy” rating on the stock in a research report on Wednesday, October 10th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $44.00.
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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