Tokio Marine Asset Management Co. Ltd. Takes $15.39 Million Position in SP Plus Co. (NASDAQ:SP)

Tokio Marine Asset Management Co. Ltd. purchased a new stake in shares of SP Plus Co. (NASDAQ:SP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 300,303 shares of the business services provider’s stock, valued at approximately $15,391,000.

Several other hedge funds and other institutional investors also recently modified their holdings of SP. SG Americas Securities LLC acquired a new position in shares of SP Plus during the third quarter valued at $108,000. Verdence Capital Advisors LLC lifted its holdings in SP Plus by 3.4% in the third quarter. Verdence Capital Advisors LLC now owns 58,717 shares of the business services provider’s stock worth $2,120,000 after purchasing an additional 1,939 shares during the period. Knights of Columbus Asset Advisors LLC lifted its holdings in SP Plus by 2.8% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 66,454 shares of the business services provider’s stock worth $2,399,000 after purchasing an additional 1,835 shares during the period. Principal Financial Group Inc. acquired a new stake in SP Plus in the third quarter worth about $207,000. Finally, LSV Asset Management lifted its holdings in SP Plus by 31.8% in the third quarter. LSV Asset Management now owns 238,971 shares of the business services provider’s stock worth $8,627,000 after purchasing an additional 57,593 shares during the period. Institutional investors and hedge funds own 93.98% of the company’s stock.

SP Plus Price Performance

SP Plus stock traded up $0.32 during midday trading on Wednesday, hitting $51.10. The company’s stock had a trading volume of 186,123 shares, compared to its average volume of 196,062. 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 stock’s 50-day moving average price is $51.63 and its 200-day moving average price is $51.28. SP Plus Co. has a 12 month low of $32.78 and a 12 month high of $52.56. The company has a market capitalization of $1.01 billion, a PE ratio of 32.76 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 EPS 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 the consensus estimate of $235.44 million. Analysts anticipate that SP Plus Co. will post 3.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of SP Plus in a report on Monday. They issued a “hold” rating for the company. TheStreet downgraded shares of SP Plus from a “b” rating to a “c+” rating in a report on Tuesday, February 27th.

SP Plus 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.