Verdence Capital Advisors LLC Sells 44,410 Shares of SP Plus Co. (NASDAQ:SP)

Verdence Capital Advisors LLC lowered its stake in SP Plus Co. (NASDAQ:SP) by 75.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,307 shares of the business services provider’s stock after selling 44,410 shares during the quarter. Verdence Capital Advisors LLC owned about 0.07% of SP Plus worth $733,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC lifted its position in shares of SP Plus by 3,883.2% in the fourth quarter. International Assets Investment Management LLC now owns 30,750 shares of the business services provider’s stock valued at $1,576,000 after acquiring an additional 29,978 shares in the last quarter. GAM Holding AG bought a new stake in shares of SP Plus during the fourth quarter valued at approximately $256,000. Moody National Bank Trust Division boosted its position in shares of SP Plus by 22.9% during the fourth quarter. Moody National Bank Trust Division now owns 28,676 shares of the business services provider’s stock worth $1,470,000 after acquiring an additional 5,334 shares during the last quarter. Citigroup Inc. boosted its position in shares of SP Plus by 12.1% during the third quarter. Citigroup Inc. now owns 11,437 shares of the business services provider’s stock worth $413,000 after acquiring an additional 1,238 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in SP Plus by 38.4% in the 3rd quarter. American Century Companies Inc. now owns 13,451 shares of the business services provider’s stock valued at $486,000 after acquiring an additional 3,731 shares during the last quarter. 93.98% of the stock is owned by hedge funds and other institutional investors.

SP Plus Trading Down 1.0 %

SP stock opened at $50.68 on Monday. SP Plus Co. has a twelve month low of $32.78 and a twelve month high of $52.56. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 1.34. The firm’s fifty day simple moving average is $51.67 and its two-hundred day simple moving average is $51.30. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of 32.49 and a beta of 1.22.

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 the consensus estimate 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 during the quarter, compared to analysts’ expectations of $235.44 million. As a group, analysts anticipate that SP Plus Co. will post 3.42 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on SP shares. StockNews.com initiated coverage on SP Plus in a research note on Monday. They set a “hold” rating for the company. TheStreet cut shares of SP Plus from a “b” rating to a “c+” rating in a research note on Tuesday, February 27th.

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.