SP Plus Co. (NASDAQ:SP) Position Lessened by Kestrel Investment Management Corp

Kestrel Investment Management Corp trimmed its position in shares of SP Plus Co. (NASDAQ:SP) by 18.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,500 shares of the business services provider’s stock after selling 12,800 shares during the period. SP Plus comprises approximately 2.0% of Kestrel Investment Management Corp’s portfolio, making the stock its 28th biggest holding. Kestrel Investment Management Corp owned about 0.29% of SP Plus worth $2,896,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of SP. LSV Asset Management raised its holdings in SP Plus by 31.8% during the third quarter. LSV Asset Management now owns 238,971 shares of the business services provider’s stock valued at $8,627,000 after buying an additional 57,593 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in SP Plus by 510.4% during the third quarter. Assenagon Asset Management S.A. now owns 72,265 shares of the business services provider’s stock valued at $2,609,000 after buying an additional 60,427 shares in the last quarter. Citigroup Inc. raised its holdings in SP Plus by 12.1% during the third quarter. Citigroup Inc. now owns 11,437 shares of the business services provider’s stock valued at $413,000 after buying an additional 1,238 shares in the last quarter. MQS Management LLC bought a new position in SP Plus during the third quarter valued at about $205,000. Finally, Van Hulzen Asset Management LLC raised its holdings in SP Plus by 42.2% during the third quarter. Van Hulzen Asset Management LLC now owns 44,948 shares of the business services provider’s stock valued at $1,623,000 after buying an additional 13,337 shares in the last quarter. 93.98% of the stock is currently owned by hedge funds and other institutional investors.

SP Plus Price Performance

NASDAQ SP traded down $0.53 during trading on Friday, reaching $50.68. 385,327 shares of the company traded hands, compared to its average volume of 193,220. 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 stock’s 50 day moving average price is $51.68 and its two-hundred day moving average price is $50.98. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 32.49 and a beta of 1.22. SP Plus Co. has a 1-year low of $32.78 and a 1-year high of $52.56.

SP Plus (NASDAQ:SP) last posted its earnings results 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). SP Plus had a net margin of 1.74% and a return on equity of 22.49%. The firm had revenue of $217.20 million during the quarter, compared to the consensus estimate of $235.44 million. As a group, analysts anticipate that SP Plus Co. will post 3.42 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SP. TheStreet downgraded SP Plus from a “b” rating to a “c+” rating in a research report on Tuesday, February 27th. StockNews.com began coverage on SP Plus in a research report on Sunday, April 14th. They issued a “hold” rating on the stock.

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.