Connor Clark & Lunn Investment Management Ltd. Purchases 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. raised its holdings in Spok Holdings, Inc. (NASDAQ:SPOK - Free Report) by 33.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm 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 SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. bought a new stake in shares of Spok during the fourth quarter valued at approximately $1,253,000. Ameriprise Financial Inc. bought a new stake in shares of Spok during the fourth quarter valued at approximately $494,000. JPMorgan Chase & Co. increased its holdings in shares of Spok by 7.6% during the fourth quarter. JPMorgan Chase & Co. now owns 213,575 shares of the Wireless communications provider's stock valued at $3,428,000 after acquiring an additional 15,156 shares in the last quarter. Millennium Management LLC lifted its position in 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 acquiring an additional 14,552 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new position in Spok in the 4th quarter valued at about $210,000. 50.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SPOK. B. Riley raised shares of Spok to a "strong-buy" rating in a research report on Thursday, May 1st. Wall Street Zen upgraded Spok from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 10th.

Spok Trading Down 0.7%

Spok stock traded down $0.12 during trading on Monday, hitting $18.29. 146,802 shares of the company were exchanged, compared to its average volume of 129,606. The business's 50 day moving average is $17.57 and its 200 day moving average is $16.62. Spok Holdings, Inc. has a 52 week low of $13.55 and a 52 week high of $19.31. The company has a market capitalization of $376.59 million, a P/E ratio of 22.04 and a beta of 0.57.

Spok (NASDAQ:SPOK - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The Wireless communications provider reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.04. Spok had a return on equity of 11.11% and a net margin of 12.12%. The business had revenue of $35.69 million during the quarter, compared to the consensus estimate of $35.00 million. Equities analysts expect that Spok Holdings, Inc. will post 0.76 EPS for the current year.

Spok Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 19th will be paid a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date is Tuesday, August 19th. Spok's dividend payout ratio is 150.60%.

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.