Key Points
- Spok director Christine Cournoyer sold 8,320 shares at an average price of $11.28, generating $93,849.60 and reducing her direct holdings by 33.85% to 16,261 shares.
- Spok exceeded quarterly earnings expectations, reporting $0.20 EPS versus the $0.15 consensus and revenue of $35.01 million. The company declared a quarterly dividend of $0.3125 per share, representing a 10.9% yield.
- Analysts maintain a consensus “Hold” rating with a $14 average price target, while institutional investors own 50.81% of the stock.
Spok Holdings, Inc. (NASDAQ:SPOK - Get Free Report) Director Christine Cournoyer sold 8,320 shares of the company's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $11.28, for a total transaction of $93,849.60. Following the sale, the director directly owned 16,261 shares of the company's stock, valued at approximately $183,424.08. This trade represents a 33.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Spok Price Performance
Shares of NASDAQ:SPOK opened at $11.44 on Wednesday. Spok Holdings, Inc. has a 1 year low of $9.95 and a 1 year high of $18.79. The stock has a market capitalization of $239.32 million, a price-to-earnings ratio of 19.72 and a beta of 0.48. The company's 50 day simple moving average is $10.70 and its 200 day simple moving average is $11.47.
Spok (NASDAQ:SPOK - Get Free Report) last released its earnings results on Wednesday, July 29th. The Wireless communications provider reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.05. The firm had revenue of $35.01 million during the quarter, compared to analysts' expectations of $34.30 million. Spok had a return on equity of 8.50% and a net margin of 9.00%. As a group, analysts anticipate that Spok Holdings, Inc. will post 0.66 EPS for the current fiscal year.
Spok Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Wednesday, August 19th will be given a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a dividend yield of 10.9%. The ex-dividend date is Wednesday, August 19th. Spok's dividend payout ratio is currently 215.52%.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp acquired a new stake in shares of Spok during the second quarter valued at about $2,397,000. Goldman Sachs Group Inc. increased its stake in shares of Spok by 33.4% in the first quarter. Goldman Sachs Group Inc. now owns 521,571 shares of the Wireless communications provider's stock valued at $8,575,000 after buying an additional 130,478 shares during the period. Millennium Management LLC increased its stake in shares of Spok by 344.7% in the fourth quarter. Millennium Management LLC now owns 125,808 shares of the Wireless communications provider's stock valued at $1,659,000 after buying an additional 97,515 shares during the period. Trexquant Investment LP raised its holdings in Spok by 92.0% in the 4th quarter. Trexquant Investment LP now owns 170,653 shares of the Wireless communications provider's stock valued at $2,251,000 after buying an additional 81,784 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Spok by 6.3% in the 4th quarter. Renaissance Technologies LLC now owns 1,246,579 shares of the Wireless communications provider's stock valued at $16,442,000 after buying an additional 74,029 shares during the last quarter. 50.81% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on SPOK shares. Wall Street Zen upgraded Spok from a "sell" rating to a "hold" rating in a research report on Sunday, July 5th. Weiss Ratings raised shares of Spok from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, July 28th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $14.00.
Get Our Latest Stock Report on SPOK
About Spok
(
Get Free Report)
Spok, Inc is a publicly traded healthcare communications and collaboration company headquartered in Bellevue, Washington. The company specializes in providing secure, real-time clinical communication solutions designed to streamline workflows and enhance patient care. Serving hospitals, health systems, and other healthcare organizations across North America and selected international markets, Spok has positioned itself as a leading provider of secure messaging and nurse call integration.
Spok's flagship offering, the Spok Care Connect platform, delivers a suite of integrated products, including secure text and voice messaging, alarm and event management, call center solutions, and digital signage.
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