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

Wolverine Asset Management LLC acquired a new position in shares of SP Plus Co. (NASDAQ:SP) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 17,160 shares of the business services provider’s stock, valued at approximately $879,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in shares of SP Plus during the third quarter worth $108,000. Verdence Capital Advisors LLC lifted its position in shares of SP Plus by 3.4% during the third quarter. Verdence Capital Advisors LLC now owns 58,717 shares of the business services provider’s stock worth $2,120,000 after purchasing an additional 1,939 shares during the last quarter. Knights of Columbus Asset Advisors LLC raised its holdings in shares of SP Plus by 2.8% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 66,454 shares of the business services provider’s stock valued at $2,399,000 after acquiring an additional 1,835 shares in the last quarter. Principal Financial Group Inc. bought a new stake in shares of SP Plus in the third quarter valued at about $207,000. Finally, LSV Asset Management raised its holdings in shares of SP Plus by 31.8% in the third quarter. LSV Asset Management now owns 238,971 shares of the business services provider’s stock valued at $8,627,000 after acquiring an additional 57,593 shares in the last quarter. 93.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. TheStreet downgraded SP Plus from a “b” rating to a “c+” rating in a report on Tuesday, February 27th. StockNews.com started coverage on shares of SP Plus in a report on Monday. They issued a “hold” rating for the company.

SP Plus Stock Performance

Shares of SP Plus stock opened at $51.00 on Friday. The company has a market capitalization of $1.01 billion, a PE ratio of 32.69 and a beta of 1.22. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.71 and a current ratio of 0.71. The company has a 50-day simple moving average of $51.62 and a two-hundred day simple moving average of $51.28. SP Plus Co. has a one year low of $32.78 and a one year high of $52.56.

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

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.