Jacobs Levy Equity Management Inc. Grows Stake 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. raised its stake in shares of Spok Holdings, Inc. (NASDAQ:SPOK - Free Report) by 19.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 93,576 shares of the Wireless communications provider's stock after buying 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 hedge funds have also made changes to their positions in the company. CWM LLC boosted its holdings in shares of Spok by 309.2% during the first quarter. CWM LLC now owns 1,743 shares of the Wireless communications provider's stock worth $29,000 after purchasing an additional 1,317 shares during the last quarter. SBI Securities Co. Ltd. boosted its holdings in shares of Spok by 62.2% during the first quarter. SBI Securities Co. Ltd. now owns 2,200 shares of the Wireless communications provider's stock worth $36,000 after purchasing an additional 844 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Spok by 862.1% during the first quarter. US Bancorp DE now owns 2,790 shares of the Wireless communications provider's stock worth $46,000 after purchasing an additional 2,500 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Spok by 12,125.8% during the first quarter. Nisa Investment Advisors LLC now owns 3,790 shares of the Wireless communications provider's stock worth $62,000 after purchasing an additional 3,759 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in shares of Spok by 30.8% during the fourth quarter. Lazard Asset Management LLC now owns 5,868 shares of the Wireless communications provider's stock worth $94,000 after purchasing an additional 1,383 shares during the last quarter. Institutional investors and hedge funds own 50.81% of the company's stock.

Insiders Place Their Bets

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

Spok Stock Down 0.7%

Shares of SPOK stock traded down $0.12 during mid-day trading on Tuesday, hitting $17.35. 69,616 shares of the company's stock were exchanged, compared to its average volume of 115,238. Spok Holdings, Inc. has a fifty-two week low of $13.55 and a fifty-two week high of $19.31. The stock has a 50-day simple moving average of $17.87 and a two-hundred day simple moving average of $16.80. The stock has a market cap of $357.24 million, a price-to-earnings ratio of 20.90 and a beta of 0.55.

Spok (NASDAQ:SPOK - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $35.00 million. Spok has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Spok Holdings, Inc. will post 0.76 earnings per share for the current fiscal year.

Spok Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Investors of record on Tuesday, August 19th were issued a $0.3125 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $1.25 dividend on an annualized basis and a yield of 7.2%. Spok's dividend payout ratio (DPR) is presently 150.60%.

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.