Assenagon Asset Management S.A. Trims Position in SP Plus Corp (NASDAQ:SP)

Assenagon Asset Management S.A. decreased its position in shares of SP Plus Corp (NASDAQ:SP) by 88.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 15,314 shares of the business services provider’s stock after selling 117,522 shares during the quarter. Assenagon Asset Management S.A.’s holdings in SP Plus were worth $567,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Bank of Montreal Can raised its stake in SP Plus by 1,770.6% during the second quarter. Bank of Montreal Can now owns 2,039 shares of the business services provider’s stock worth $65,000 after purchasing an additional 1,930 shares during the period. ETF Managers Group LLC purchased a new position in SP Plus during the second quarter worth approximately $184,000. Campbell & CO Investment Adviser LLC purchased a new position in SP Plus during the second quarter worth approximately $207,000. Paloma Partners Management Co purchased a new position in SP Plus during the second quarter worth approximately $237,000. Finally, BBT Capital Management LLC purchased a new position in SP Plus during the second quarter worth approximately $336,000. 98.57% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Gerard M. Klaisle sold 1,250 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $36.91, for a total value of $46,137.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by corporate insiders.

SP has been the topic of a number of recent analyst reports. ValuEngine downgraded shares of SP Plus from a “hold” rating to a “sell” rating in a research note on Tuesday, September 10th. BidaskClub downgraded shares of SP Plus from a “buy” rating to a “hold” rating in a research note on Friday, August 9th. Barrington Research set a $43.00 price target on shares of SP Plus and gave the stock a “buy” rating in a research note on Friday, July 12th. Finally, Zacks Investment Research downgraded shares of SP Plus from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th.

NASDAQ:SP opened at $39.14 on Wednesday. SP Plus Corp has a fifty-two week low of $27.13 and a fifty-two week high of $39.64. The firm’s 50 day moving average is $37.01 and its two-hundred day moving average is $34.33. The company has a market cap of $881.92 million, a P/E ratio of 16.73, a P/E/G ratio of 1.42 and a beta of 0.98. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.81.

SP Plus (NASDAQ:SP) last released its quarterly earnings data on Wednesday, July 31st. The business services provider reported $0.81 earnings per share (EPS) for the quarter, topping the 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 during the quarter, compared to analyst estimates of $238.15 million. Research analysts forecast that SP Plus Corp will post 2.71 earnings per share for the current fiscal year.

SP Plus Company Profile

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.

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

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