Wolverine Asset Management LLC Makes New Investment in SP Plus Co. (NASDAQ:SP)

Wolverine Asset Management LLC purchased a new stake in SP Plus Co. (NASDAQ:SP) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 17,160 shares of the business services provider’s stock, valued at approximately $879,000. Wolverine Asset Management LLC owned approximately 0.09% of SP Plus at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC lifted its holdings in shares of SP Plus by 3,883.2% in the fourth quarter. International Assets Investment Management LLC now owns 30,750 shares of the business services provider’s stock valued at $1,576,000 after purchasing an additional 29,978 shares in the last quarter. GAM Holding AG acquired a new position in shares of SP Plus during the 4th quarter worth approximately $256,000. Moody National Bank Trust Division lifted its stake in SP Plus by 22.9% in the fourth quarter. Moody National Bank Trust Division now owns 28,676 shares of the business services provider’s stock valued at $1,470,000 after acquiring an additional 5,334 shares during the last quarter. Citigroup Inc. raised its holdings in shares of SP Plus by 12.1% in the 3rd quarter. Citigroup Inc. now owns 11,437 shares of the business services provider’s stock valued at $413,000 after purchasing an additional 1,238 shares during the period. Finally, MQS Management LLC bought a new stake in shares of SP Plus in the 3rd quarter valued at about $205,000. 93.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SP shares. StockNews.com started coverage on shares of SP Plus in a report on Monday. They issued a “hold” rating on the stock. TheStreet lowered shares of SP Plus from a “b” rating to a “c+” rating in a research note on Tuesday, February 27th.

SP Plus Stock Down 0.2 %

Shares of SP opened at $51.00 on Friday. SP Plus Co. has a 52 week low of $32.78 and a 52 week high of $52.56. The firm has a market cap of $1.01 billion, a P/E ratio of 32.69 and a beta of 1.22. The firm’s 50-day simple moving average is $51.62 and its 200 day simple moving average is $51.28. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.71 and a current ratio of 0.71.

SP Plus (NASDAQ:SP) last announced its quarterly earnings results on Tuesday, February 27th. The business services provider reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.25). SP Plus had a net margin of 1.74% and a return on equity of 22.49%. The company had revenue of $217.20 million during the quarter, compared to analyst estimates of $235.44 million. On average, analysts forecast that SP Plus Co. will post 3.42 earnings per share for the current year.

SP Plus Profile

SP Plus Corporation provides mobility solutions, parking services, parking management, ground transportation, baggage handling, and other ancillary services. 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.