SP Plus Corporation (SP)’s Aviation Business Continues to Recover

Bernzott Capital Advisors, an investment management company, released its “US Small Cap Value Strategy’’ second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, on a net basis, the fund fell -17.73%, more than the R2000V’s decline of -15.28% and R2500V’s decline of -15.39%. Industrials and healthcare sectors contributed positively to the fund’s relative performance, whereas transportation, materials, and financials sectors hurt the fund’s performance.  In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Bernzott Capital Advisors discussed stocks like SP Plus Corporation (NASDAQ:SP) in the second quarter investor letter. SP Plus Corporation (NASDAQ:SP) is a parking facility management services provider, headquartered in Chicago, Illinois. On September 8, 2022, SP Plus Corporation (NASDAQ:SP) stock closed at $32.61 per share. One-month return of SP Plus Corporation (NASDAQ:SP) was -8.30% and its shares gained 3.95% of their value over the last 52 weeks. SP Plus Corporation (NASDAQ:SP) has a market capitalization of $759.04 million.

Here is what Bernzott Capital Advisors specifically said about SP Plus Corporation (NASDAQ:SP) in its Q2 2022 investor letter:

“SP Plus Corporation (NASDAQ:SP): The company reported good first quarter results as its aviation business continues to recover and the parking unit gains share. Good free cash flow generation also helped support the stock in this turbulent market.”

SP Plus Corporation (NASDAQ:SP) is not on the list of 30 Most Popular Stocks Among Hedge Funds. As per our database, SP Plus Corporation (NASDAQ:SP) was held by 15 hedge fund portfolios at the end of the second quarter, which was 12 in the previous quarter.

We discussed SP Plus Corporation (NASDAQ:SP) in another article and shared Bernzott Capital Advisors’ views on the company. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.

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