WCM Investment Management LLC cut its holdings in shares of SP Plus Corp (NASDAQ:SP) by 2.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 495,776 shares of the business services provider’s stock after selling 14,969 shares during the quarter. WCM Investment Management LLC’s holdings in SP Plus were worth $15,830,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in shares of SP Plus by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,192,387 shares of the business services provider’s stock worth $35,223,000 after purchasing an additional 7,262 shares during the period. Rothschild & Co. Asset Management US Inc. lifted its position in shares of SP Plus by 7.7% in the 2nd quarter. Rothschild & Co. Asset Management US Inc. now owns 289,655 shares of the business services provider’s stock worth $9,249,000 after purchasing an additional 20,811 shares during the period. River Road Asset Management LLC lifted its position in shares of SP Plus by 1.9% in the 1st quarter. River Road Asset Management LLC now owns 217,994 shares of the business services provider’s stock worth $7,438,000 after purchasing an additional 4,110 shares during the period. Intrepid Capital Management Inc. acquired a new position in shares of SP Plus in the 1st quarter worth approximately $6,769,000. Finally, Thompson Siegel & Walmsley LLC lifted its position in shares of SP Plus by 0.7% during the 1st quarter. Thompson Siegel & Walmsley LLC now owns 175,185 shares of the business services provider’s stock valued at $5,977,000 after acquiring an additional 1,149 shares during the period. Institutional investors and hedge funds own 97.84% of the company’s stock.

SP has been the topic of a number of research reports. Barrington Research set a $43.00 target price on shares of SP Plus and gave the company a “buy” rating in a research report on Friday, July 12th. Zacks Investment Research upgraded shares of SP Plus from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research report on Saturday, August 3rd. BidaskClub downgraded shares of SP Plus from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. Finally, ValuEngine upgraded shares of SP Plus from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $44.00.

Shares of SP Plus stock traded down $0.35 during trading on Thursday, reaching $34.70. 500 shares of the company traded hands, compared to its average volume of 88,172. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.59 and a quick ratio of 0.59. SP Plus Corp has a 1-year low of $27.13 and a 1-year high of $40.95. The company has a 50 day moving average price of $34.20 and a 200-day moving average price of $33.69. The firm has a market capitalization of $804.58 million, a PE ratio of 14.83, a P/E/G ratio of 1.30 and a beta of 1.04.

SP Plus (NASDAQ:SP) last released its earnings results on Wednesday, July 31st. The business services provider reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.06. SP Plus had a net margin of 3.10% and a return on equity of 15.99%. The company had revenue of $414.20 million for the quarter, compared to the consensus estimate of $238.15 million. Equities research analysts expect that SP Plus Corp will post 2.71 earnings per share for the current year.

About SP Plus

SP Plus Corp. provides professional parking, ground transportation, facility maintenance, security, event logistics, and baggage handling and related services to commercial, institutional, municipal and aviation clients. It also provides a wide range of event logistics services. The company was founded in 1929 and is headquartered in Chicago, IL.

Further Reading: Technical Analysis of Stocks and What It Means

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Institutional Ownership by Quarter for SP Plus (NASDAQ:SP)

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