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

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

Several other hedge funds and other institutional investors have also recently modified their holdings of SPOK. SBI Securities Co. Ltd. increased its holdings in Spok by 62.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 2,200 shares of the Wireless communications provider's stock worth $36,000 after buying an additional 844 shares during the period. Invesco Ltd. increased its holdings in Spok by 2.4% in the 4th quarter. Invesco Ltd. now owns 40,116 shares of the Wireless communications provider's stock worth $644,000 after buying an additional 938 shares during the period. Stifel Financial Corp increased its holdings in Spok by 7.3% in the 4th quarter. Stifel Financial Corp now owns 18,791 shares of the Wireless communications provider's stock worth $302,000 after buying an additional 1,286 shares during the period. CWM LLC increased its holdings in Spok by 309.2% in the 1st quarter. CWM LLC now owns 1,743 shares of the Wireless communications provider's stock worth $29,000 after buying an additional 1,317 shares during the period. Finally, Lazard Asset Management LLC increased its holdings in Spok by 30.8% in the 4th quarter. Lazard Asset Management LLC now owns 5,868 shares of the Wireless communications provider's stock worth $94,000 after buying an additional 1,383 shares during the period. 50.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. B. Riley upgraded shares of Spok to a "strong-buy" rating in a report on Thursday, May 1st. Wall Street Zen upgraded Spok from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 10th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the stock has a consensus rating of "Strong Buy" and an average price target of $20.00.

Spok Stock Down 1.7%

Shares of NASDAQ SPOK traded down $0.3050 during midday trading on Thursday, hitting $17.6450. The stock had a trading volume of 77,982 shares, compared to its average volume of 130,300. The stock has a 50 day simple moving average of $17.66 and a 200-day simple moving average of $16.65. The company has a market capitalization of $363.31 million, a PE ratio of 21.28 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 posted its quarterly earnings data on Wednesday, July 30th. The Wireless communications provider reported $0.22 EPS for the quarter, beating the consensus estimate of $0.18 by $0.04. The firm had revenue of $35.69 million during the quarter, compared to the consensus estimate of $35.00 million. Spok had a return on equity of 11.11% and a net margin of 12.12%. Spok has set its FY 2025 guidance at EPS. As a group, analysts expect that Spok Holdings, Inc. will post 0.76 earnings per share for the current fiscal year.

Spok Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 19th will be paid a $0.3125 dividend. This represents a $1.25 annualized dividend and a dividend yield of 7.1%. The ex-dividend date of this dividend is Tuesday, August 19th. Spok's dividend payout ratio (DPR) is currently 150.60%.

Spok 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.