Bank of New York Mellon Corp Purchases Shares of 234,112 Spok Holdings, Inc. $SPOK

Key Points

• Bank of New York Mellon bought 234,112 Spok shares valued at approximately $2.4 million, giving it a 1.12% stake. Institutional investors collectively own 50.81% of the company.
• Spok exceeded quarterly expectations, reporting EPS of $0.20 versus the $0.15 consensus and revenue of $35.01 million versus $34.30 million expected.
• Spok announced a quarterly dividend of $0.3125, or $1.25 annualized, representing an unusually high 11.7% yield; analysts maintain a “Hold” consensus with a $14 average price target.

Bank of New York Mellon Corp purchased a new position in Spok Holdings, Inc. (NASDAQ:SPOK - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 234,112 shares of the Wireless communications provider's stock, valued at approximately $2,397,000. Bank of New York Mellon Corp owned about 1.12% of Spok as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of SPOK. Parallel Advisors LLC grew its stake in shares of Spok by 305.4% in the third quarter. Parallel Advisors LLC now owns 1,796 shares of the Wireless communications provider's stock worth $31,000 after purchasing an additional 1,353 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in Spok by 69.8% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,465 shares of the Wireless communications provider's stock worth $33,000 after buying an additional 1,013 shares during the period. Royal Bank of Canada lifted its holdings in Spok by 182.8% in the 4th quarter. Royal Bank of Canada now owns 3,100 shares of the Wireless communications provider's stock worth $40,000 after buying an additional 2,004 shares during the period. Russell Investments Group Ltd. grew its position in shares of Spok by 40.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,613 shares of the Wireless communications provider's stock worth $46,000 after buying an additional 747 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of Spok by 319.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,774 shares of the Wireless communications provider's stock worth $49,000 after buying an additional 2,113 shares during the last quarter. Hedge funds and other institutional investors own 50.81% of the company's stock.

Insider Transactions at Spok

In other news, Director Christine Cournoyer sold 8,320 shares of the firm's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $11.28, for a total transaction of $93,849.60. Following the sale, the director owned 16,261 shares of the company's stock, valued at $183,424.08. This trade represents a 33.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 7.28% of the company's stock.

Spok Price Performance

Shares of SPOK opened at $10.71 on Tuesday. The stock has a market cap of $224.05 million, a P/E ratio of 18.47 and a beta of 0.45. The business's 50 day moving average price is $10.72 and its 200-day moving average price is $11.09. Spok Holdings, Inc. has a 52 week low of $9.95 and a 52 week high of $18.16.

Spok (NASDAQ:SPOK - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The Wireless communications provider reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.05. Spok had a return on equity of 8.50% and a net margin of 9.00%.The business had revenue of $35.01 million during the quarter, compared to analysts' expectations of $34.30 million.

Spok Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Wednesday, August 19th will be given a $0.3125 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $1.25 dividend on an annualized basis and a yield of 11.7%. Spok's payout ratio is 215.52%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SPOK. Wall Street Zen upgraded Spok from a "sell" rating to a "hold" rating in a report on Sunday, July 5th. Weiss Ratings upgraded 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, According to MarketBeat.com, Spok presently has an average rating of "Hold" and an average target price of $14.00.

About Spok

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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