Lazard Asset Management LLC Increases Stock Position in SP Plus Co. (NASDAQ:SP)

Lazard Asset Management LLC boosted its stake in SP Plus Co. (NASDAQ:SPGet Rating) by 56.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,454 shares of the business services provider’s stock after acquiring an additional 2,702 shares during the period. Lazard Asset Management LLC’s holdings in SP Plus were worth $228,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SP. New York State Teachers Retirement System purchased a new stake in SP Plus in the second quarter valued at $61,000. Amalgamated Bank purchased a new stake in SP Plus in the first quarter valued at $118,000. PNC Financial Services Group Inc. purchased a new stake in shares of SP Plus in the first quarter valued at about $143,000. MQS Management LLC purchased a new stake in shares of SP Plus in the first quarter valued at about $223,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of SP Plus by 10.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 8,522 shares of the business services provider’s stock valued at $261,000 after buying an additional 800 shares during the last quarter. 88.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Barrington Research upped their target price on shares of SP Plus from $47.00 to $48.00 in a report on Tuesday, August 23rd. StockNews.com raised shares of SP Plus from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 15th.

SP Plus Price Performance

Shares of NASDAQ:SP opened at $34.90 on Monday. The stock has a market capitalization of $703.83 million, a price-to-earnings ratio of 15.11 and a beta of 1.40. SP Plus Co. has a one year low of $25.29 and a one year high of $37.52. The company has a 50-day simple moving average of $33.60 and a 200-day simple moving average of $32.61. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.67 and a current ratio of 0.67.

SP Plus Company Profile

(Get Rating)

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 firm operates through the following segments: Commercial, Aviation, and Other.

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

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