SP Plus Corporation (SP) Appreciated on Acquisition Announcement

Aristotle Capital Boston, LLC, an investment advisor, released its “Small Cap Equity Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund delivered a return of 11.02% net of fees (11.18% gross of fees), trailing the Russell 2000 Index’s 14.03% total return. Both security selection and allocation effects drove the underperformance of the strategy in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Aristotle Small Cap Equity Strategy featured stocks such as SP Plus Corporation (NASDAQ:SP) in the Q4 2023 investor letter. Based in Chicago, Illinois, SP Plus Corporation (NASDAQ:SP) is a parking services company that provides professional parking, ground transportation, facility maintenance, security, event logistics, and baggage handling and related services. On January 11, 2024, SP Plus Corporation (NASDAQ:SP) stock closed at $51.39 per share. One-month return of SP Plus Corporation (NASDAQ:SP) was 0.74%, and its shares gained 40.10% of their value over the last 52 weeks. SP Plus Corporation (NASDAQ:SP) has a market capitalization of $1.017 billion.

Aristotle Small Cap Equity Strategy stated the following regarding SP Plus Corporation (NASDAQ:SP) in its fourth quarter 2023 investor letter:

“SP Plus Corporation (NASDAQ:SP), a provider of parking management, payment services, facility maintenance and event logistics solutions, appreciated following an announcement that the company would be acquired by Metropolis Technologies. We maintain a position ahead of the expected close of the transaction in 2024.”

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SP Plus Corporation (NASDAQ:SP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 16 hedge fund portfolios held SP Plus Corporation (NASDAQ:SP) at the end of third quarter which was 15 in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.