SP Plus (NASDAQ:SP) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of SP Plus (NASDAQ:SP) in a research note issued to investors on Sunday. The brokerage issued a hold rating on the business services provider’s stock.

SP Plus Price Performance

SP Plus stock opened at $53.99 on Friday. The business has a 50 day simple moving average of $53.99 and a 200 day simple moving average of $52.61. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.73 and a quick ratio of 0.73. SP Plus has a one year low of $34.17 and a one year high of $54.42. The company has a market capitalization of $1.07 billion, a PE ratio of 35.52 and a beta of 1.22.

Institutional Trading of SP Plus

Institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC grew its position in shares of SP Plus by 868.4% in the fourth quarter. Parallel Advisors LLC now owns 552 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 495 shares during the last quarter. Pacific Capital Wealth Advisors Inc. bought a new position in shares of SP Plus in the 4th quarter valued at $61,000. Quest Partners LLC bought a new position in shares of SP Plus in the 4th quarter valued at $73,000. Virtu Financial LLC bought a new position in shares of SP Plus in the 1st quarter valued at $291,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of SP Plus by 13.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,598 shares of the business services provider’s stock valued at $293,000 after acquiring an additional 650 shares during the last quarter. Institutional investors own 93.98% of the company’s stock.

SP Plus Company 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.