Ameriprise Financial Inc. Makes New $494,000 Investment in Spok Holdings, Inc. (NASDAQ:SPOK)

Ameriprise Financial Inc. bought a new position in shares of Spok Holdings, Inc. (NASDAQ:SPOK - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 30,779 shares of the Wireless communications provider's stock, valued at approximately $494,000. Ameriprise Financial Inc. owned 0.15% of Spok at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Geode Capital Management LLC raised its holdings in Spok by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 514,427 shares of the Wireless communications provider's stock worth $8,258,000 after buying an additional 6,591 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Spok by 7.6% during the fourth quarter. JPMorgan Chase & Co. now owns 213,575 shares of the Wireless communications provider's stock worth $3,428,000 after buying an additional 15,156 shares during the last quarter. Northern Trust Corp raised its holdings in Spok by 4.1% during the fourth quarter. Northern Trust Corp now owns 207,068 shares of the Wireless communications provider's stock worth $3,323,000 after buying an additional 8,175 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Spok by 67.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 110,997 shares of the Wireless communications provider's stock worth $1,782,000 after buying an additional 44,896 shares during the last quarter. Finally, Trexquant Investment LP raised its holdings in Spok by 49.8% during the fourth quarter. Trexquant Investment LP now owns 106,467 shares of the Wireless communications provider's stock worth $1,709,000 after buying an additional 35,401 shares during the last quarter. Institutional investors and hedge funds own 50.81% of the company's stock.

Wall Street Analysts Forecast Growth

SPOK has been the topic of several research reports. Wall Street Zen upgraded shares of Spok from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 10th. B. Riley upgraded Spok to a "strong-buy" rating in a report on Thursday, May 1st.

Insider Buying and Selling

In related news, CEO Vincent D. Kelly sold 30,000 shares of Spok stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $16.40, for a total transaction of $492,000.00. Following the sale, the chief executive officer now directly owns 157,817 shares in the company, valued at approximately $2,588,198.80. This trade represents a 15.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Michael W. Wallace sold 6,000 shares of Spok stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $16.53, for a total value of $99,180.00. Following the sale, the chief operating officer now owns 61,175 shares in the company, valued at $1,011,222.75. This trade represents a 8.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.37% of the stock is currently owned by corporate insiders.

Spok Price Performance

Shares of SPOK stock traded up $0.15 during trading hours on Friday, reaching $16.49. The company had a trading volume of 87,345 shares, compared to its average volume of 120,651. Spok Holdings, Inc. has a 12 month low of $13.55 and a 12 month high of $17.96. The business has a fifty day simple moving average of $15.86 and a 200-day simple moving average of $16.14. The company has a market cap of $339.23 million, a price-to-earnings ratio of 22.59 and a beta of 0.56.

Spok (NASDAQ:SPOK - Get Free Report) last posted its earnings results on Wednesday, April 30th. The Wireless communications provider reported $0.25 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.07. Spok had a return on equity of 9.20% and a net margin of 10.66%. The company had revenue of $36.29 million for the quarter, compared to analyst estimates of $34.00 million. On average, equities research analysts expect that Spok Holdings, Inc. will post 0.76 earnings per share for the current year.

Spok Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Friday, May 23rd will be issued a dividend of $0.3125 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.25 dividend on an annualized basis and a yield of 7.58%. Spok's dividend payout ratio (DPR) is currently 160.26%.

Spok Company Profile

Spok Holdings, Inc, through its subsidiary, Spok, Inc, provides healthcare communication solutions in the United States, Europe, Canada, Australia, Asia, and the Middle East. The company's products and services enhance workflows for clinicians and support administrative compliance. It delivers clinical information to care teams when and where it matters to enhance patient outcomes; and provides GenA Pager, a one-way alphanumeric pager.