BCK Capital Management LP Takes $1.90 Million Position in SP Plus Co. (NASDAQ:SP)

BCK Capital Management LP bought a new position in shares of SP Plus Co. (NASDAQ:SP) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 37,134 shares of the business services provider’s stock, valued at approximately $1,903,000. SP Plus makes up 1.9% of BCK Capital Management LP’s investment portfolio, making the stock its 10th biggest holding.

A number of other institutional investors also recently bought and sold shares of SP. Tokio Marine Asset Management Co. Ltd. acquired a new stake in shares of SP Plus during the 4th quarter worth approximately $15,391,000. Thompson Siegel & Walmsley LLC increased its position in SP Plus by 107.3% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 125,278 shares of the business services provider’s stock valued at $4,523,000 after acquiring an additional 64,842 shares during the period. Assenagon Asset Management S.A. increased its position in SP Plus by 510.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 72,265 shares of the business services provider’s stock valued at $2,609,000 after acquiring an additional 60,427 shares during the period. LSV Asset Management increased its position in SP Plus by 31.8% in the 3rd quarter. LSV Asset Management now owns 238,971 shares of the business services provider’s stock valued at $8,627,000 after acquiring an additional 57,593 shares during the period. Finally, New York Life Investment Management LLC increased its position in SP Plus by 456.8% in the 4th quarter. New York Life Investment Management LLC now owns 57,812 shares of the business services provider’s stock valued at $2,963,000 after acquiring an additional 47,429 shares during the period. 93.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SP has been the topic of several analyst reports. StockNews.com initiated coverage on SP Plus in a research report on Tuesday, April 30th. They issued a “hold” rating on the stock. TheStreet lowered SP Plus from a “b” rating to a “c+” rating in a research note on Tuesday, February 27th.

SP Plus Price Performance

NASDAQ SP traded down $0.01 on Monday, reaching $51.50. 102,328 shares of the stock traded hands, compared to its average volume of 190,954. The firm’s fifty day simple moving average is $51.62 and its 200 day simple moving average is $51.31. 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 company has a market cap of $1.02 billion, a price-to-earnings ratio of 33.88 and a beta of 1.22. SP Plus Co. has a 12 month low of $33.89 and a 12 month high of $52.56.

SP Plus (NASDAQ:SP) last released its quarterly earnings data 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). The company had revenue of $217.20 million for the quarter, compared to the consensus estimate of $235.44 million. SP Plus had a return on equity of 22.21% and a net margin of 1.68%. As a group, research analysts predict that SP Plus Co. will post 3.26 EPS 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.