Victory Capital Management Inc. Sells 6,925 Shares of SP Plus Co. (NASDAQ:SP)

Victory Capital Management Inc. reduced its stake in shares of SP Plus Co. (NASDAQ:SP) by 38.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,150 shares of the business services provider’s stock after selling 6,925 shares during the period. Victory Capital Management Inc. owned about 0.06% of SP Plus worth $571,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quantbot Technologies LP bought a new position in SP Plus in the 3rd quarter worth approximately $101,000. MQS Management LLC purchased a new stake in SP Plus in the 3rd quarter worth approximately $205,000. Principal Financial Group Inc. purchased a new stake in SP Plus in the 3rd quarter worth approximately $207,000. Versor Investments LP purchased a new stake in SP Plus in the 3rd quarter worth approximately $235,000. Finally, Johnson Investment Counsel Inc. purchased a new stake in SP Plus in the 3rd quarter worth approximately $236,000. 93.98% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on SP. StockNews.com began coverage on shares of SP Plus in a research note on Friday. They issued a “hold” rating on the stock. TheStreet cut shares of SP Plus from a “b” rating to a “c+” rating in a research note on Tuesday, February 27th.

SP Plus Stock Performance

SP Plus stock opened at $53.99 on Friday. The firm’s fifty day moving average price is $52.04 and its 200-day moving average price is $51.55. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a market cap of $1.07 billion, a P/E ratio of 35.52 and a beta of 1.22. SP Plus Co. has a fifty-two week low of $34.17 and a fifty-two week high of $54.42.

SP Plus (NASDAQ:SP) last posted its quarterly earnings data on Wednesday, May 1st. The business services provider reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.06). The company had revenue of $222.10 million for the quarter, compared to analysts’ expectations of $229.00 million. SP Plus had a net margin of 1.68% and a return on equity of 21.93%. On average, equities research analysts expect that SP Plus Co. will post 3.5 earnings per share 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.