Connor Clark & Lunn Investment Management Ltd. Buys 35,321 Shares of Spok Holdings, Inc. $SPOK

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Spok Holdings, Inc. by 33.6%, owning 140,562 shares valued at approximately $2.31 million after buying an additional 35,321 shares.
• Several institutional investors, including Bank of America Corp and GAMMA Investing LLC, have significantly increased their holdings in Spok during the past quarters, indicating growing confidence in the company.
• Spok recently announced a quarterly dividend of $0.3125 per share, reflecting an annualized yield of 6.8%, despite a high dividend payout ratio of 150.60%.

Connor Clark & Lunn Investment Management Ltd. grew its holdings in Spok Holdings, Inc. (NASDAQ:SPOK - Free Report) by 33.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 140,562 shares of the Wireless communications provider's stock after buying an additional 35,321 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.68% of Spok worth $2,311,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in SPOK. Jacobs Levy Equity Management Inc. acquired a new position in shares of Spok in the 4th quarter valued at $1,253,000. Ameriprise Financial Inc. acquired a new position in shares of Spok in the 4th quarter valued at $494,000. JPMorgan Chase & Co. raised its stake in shares of Spok by 7.6% in the 4th quarter. JPMorgan Chase & Co. now owns 213,575 shares of the Wireless communications provider's stock valued at $3,428,000 after buying an additional 15,156 shares in the last quarter. Millennium Management LLC raised its stake in shares of Spok by 37.9% in the 4th quarter. Millennium Management LLC now owns 52,929 shares of the Wireless communications provider's stock valued at $850,000 after buying an additional 14,552 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Spok in the 4th quarter valued at $210,000. Institutional investors and hedge funds own 50.81% of the company's stock.

Spok Trading Down 3.5%

Shares of Spok stock traded down $0.6450 during mid-day trading on Tuesday, reaching $17.6150. 51,550 shares of the stock were exchanged, compared to its average volume of 129,761. The company has a market cap of $362.71 million, a price-to-earnings ratio of 21.24 and a beta of 0.57. The firm has a 50-day simple moving average of $17.60 and a 200 day simple moving average of $16.63. Spok Holdings, Inc. has a fifty-two week low of $13.55 and a fifty-two week high of $19.31.

Spok (NASDAQ:SPOK - Get Free Report) last announced its earnings results on Wednesday, July 30th. The Wireless communications provider reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.04. The business had revenue of $35.69 million during the quarter, compared to analysts' expectations of $35.00 million. Spok had a net margin of 12.12% and a return on equity of 11.11%. Spok has set its FY 2025 guidance at EPS. On average, research analysts predict that Spok Holdings, Inc. will post 0.76 EPS for the current fiscal year.

Spok Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 19th will be issued a dividend of $0.3125 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $1.25 dividend on an annualized basis and a yield of 7.1%. Spok's dividend payout ratio is currently 150.60%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Spok from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 10th. B. Riley upgraded shares of Spok to a "strong-buy" rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company currently has an average rating of "Strong Buy" and an average target price of $20.00.

About Spok

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.