Jacobs Levy Equity Management Inc. Increases Stock Holdings in Spok Holdings, Inc. $SPOK

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Spok Holdings by 19.8% during the first quarter, owning approximately 0.45% of the company worth $1.54 million as of the latest SEC filing.
• CEO Vincent D. Kelly and COO Michael W. Wallace both sold significant shares of Spok's stock, with Kelly reducing his holdings by 19.56% and Wallace by 21.12%.
• Spok announced a quarterly dividend of $0.3125 per share, reflecting an annualized dividend yield of 7.2%, despite a high dividend payout ratio of 150.60%.

Jacobs Levy Equity Management Inc. lifted its stake in Spok Holdings, Inc. (NASDAQ:SPOK - Free Report) by 19.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 93,576 shares of the Wireless communications provider's stock after purchasing an additional 15,484 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.45% of Spok worth $1,538,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jump Financial LLC purchased a new position in shares of Spok in the 1st quarter worth approximately $265,000. Ameriprise Financial Inc. purchased a new position in shares of Spok in the 4th quarter worth approximately $494,000. Bank of America Corp DE boosted its holdings in shares of Spok by 37.3% in the 4th quarter. Bank of America Corp DE now owns 26,978 shares of the Wireless communications provider's stock worth $433,000 after purchasing an additional 7,332 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Spok by 2,378.4% in the 1st quarter. GAMMA Investing LLC now owns 9,864 shares of the Wireless communications provider's stock worth $162,000 after purchasing an additional 9,466 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Spok in the 4th quarter worth approximately $196,000. Hedge funds and other institutional investors own 50.81% of the company's stock.

Insider Buying and Selling

In related news, CEO Vincent D. Kelly sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $17.69, for a total transaction of $442,250.00. Following the completion of the sale, the chief executive officer directly owned 102,817 shares of the company's stock, valued at approximately $1,818,832.73. This trade represents a 19.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michael W. Wallace sold 10,806 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $17.87, for a total value of $193,103.22. Following the sale, the chief operating officer directly owned 40,369 shares of the company's stock, valued at $721,394.03. This represents a 21.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.37% of the stock is currently owned by company insiders.

Spok Stock Performance

Shares of Spok stock opened at $17.29 on Thursday. Spok Holdings, Inc. has a one year low of $13.55 and a one year high of $19.31. The stock has a market cap of $356.00 million, a price-to-earnings ratio of 20.83 and a beta of 0.55. The stock has a 50 day moving average price of $17.90 and a 200-day moving average price of $16.78.

Spok (NASDAQ:SPOK - Get Free Report) last issued its quarterly 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. Spok had a return on equity of 11.11% and a net margin of 12.12%.The firm had revenue of $35.69 million during the quarter, compared to analyst estimates of $35.00 million. Spok has set its FY 2025 guidance at EPS. Sell-side analysts predict that Spok Holdings, Inc. will post 0.76 earnings per share for the current fiscal year.

Spok Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Tuesday, August 19th were paid a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date of this dividend was Tuesday, August 19th. Spok's dividend payout ratio (DPR) is currently 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.

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