Spok Holdings, Inc. $SPOK Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC reduced its position in Spok Holdings, Inc. (NASDAQ:SPOK - Free Report) by 21.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 522,651 shares of the Wireless communications provider's stock after selling 144,062 shares during the period. HighTower Advisors LLC owned about 2.54% of Spok worth $8,592,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in SPOK. Nuveen LLC purchased a new stake in shares of Spok in the first quarter valued at $1,337,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Spok in the fourth quarter valued at $1,253,000. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Spok by 33.6% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 140,562 shares of the Wireless communications provider's stock valued at $2,311,000 after purchasing an additional 35,321 shares during the period. Ameriprise Financial Inc. purchased a new stake in shares of Spok in the fourth quarter valued at $494,000. Finally, JPMorgan Chase & Co. grew its position in shares of Spok by 7.6% in the fourth quarter. JPMorgan Chase & Co. now owns 213,575 shares of the Wireless communications provider's stock valued at $3,428,000 after purchasing an additional 15,156 shares during the period. Institutional investors and hedge funds own 50.81% of the company's stock.

Spok Trading Up 1.5%

Shares of SPOK traded up $0.2660 during midday trading on Friday, reaching $17.9460. 33,354 shares of the company were exchanged, compared to its average volume of 129,898. The stock has a 50-day moving average price of $17.68 and a 200-day moving average price of $16.67. The company has a market cap of $369.53 million, a price-to-earnings ratio of 21.61 and a beta of 0.57. Spok Holdings, Inc. has a 1-year low of $13.55 and a 1-year high of $19.31.

Spok (NASDAQ:SPOK - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The Wireless communications provider reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.18 by $0.04. Spok had a return on equity of 11.11% and a net margin of 12.12%.The company had revenue of $35.69 million for the quarter, compared to analysts' expectations of $35.00 million. Spok has set its FY 2025 guidance at EPS. Equities research analysts anticipate 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, September 9th. Investors of record on Tuesday, August 19th will be paid a $0.3125 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $1.25 annualized dividend and a dividend yield of 7.0%. Spok's payout ratio is 150.60%.

Wall Street Analyst Weigh In

SPOK has been the subject of a number of research reports. B. Riley raised Spok to a "strong-buy" rating in a research report on Thursday, May 1st. Wall Street Zen raised Spok from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 10th. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat, Spok presently has a consensus rating of "Strong Buy" and a consensus 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.