Versor Investments LP Increases Stock Position in SP Plus Co. (NASDAQ:SP)

Versor Investments LP lifted its stake in SP Plus Co. (NASDAQ:SP) by 903.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 65,216 shares of the business services provider’s stock after purchasing an additional 58,716 shares during the period. SP Plus accounts for about 0.7% of Versor Investments LP’s investment portfolio, making the stock its 11th biggest holding. Versor Investments LP owned about 0.33% of SP Plus worth $3,342,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Pacific Capital Wealth Advisors Inc. bought a new position in shares of SP Plus in the 4th quarter worth about $61,000. Quantbot Technologies LP bought a new position in shares of SP Plus in the 3rd quarter worth about $101,000. SG Americas Securities LLC bought a new stake in SP Plus during the 3rd quarter valued at about $108,000. GAM Holding AG bought a new stake in SP Plus during the 4th quarter valued at about $256,000. Finally, MQS Management LLC bought a new stake in SP Plus during the 3rd quarter valued at about $205,000. 93.98% of the stock is owned by hedge funds and other institutional investors.

SP Plus Stock Performance

Shares of SP stock traded up $2.09 during trading hours on Friday, reaching $53.46. The company had a trading volume of 1,992,625 shares, compared to its average volume of 191,662. The business has a fifty day moving average price of $51.66 and a 200-day moving average price of $51.35. SP Plus Co. has a one year low of $34.17 and a one year high of $53.90. The firm has a market cap of $1.06 billion, a PE ratio of 35.17 and a beta of 1.22. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.71 and a current ratio of 0.73.

SP Plus (NASDAQ:SP) last posted its quarterly earnings data on Tuesday, February 27th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.25). The business had revenue of $217.20 million during the quarter, compared to analysts’ expectations of $235.44 million. SP Plus had a return on equity of 21.93% and a net margin of 1.68%. Sell-side analysts predict that SP Plus Co. will post 3.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SP has been the subject of a number of analyst reports. StockNews.com initiated coverage on shares of SP Plus in a research note on Wednesday. They set a “hold” rating for the company. TheStreet lowered shares of SP Plus from a “b” rating to a “c+” rating in a research note on Tuesday, February 27th.

About SP Plus

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.