Spok (NASDAQ:SPOK) Director Brett Shockley Sells 16,245 Shares of Company Stock

Key Points

• Director Brett Shockley sold 16,245 Spok shares at an average of $12.05, for about $195,752. He retained 26,817 shares, a 37.72% reduction in his position.
• Spok reported quarterly EPS of $0.46, beating the $0.16 consensus estimate, while revenue of $33 million fell short of the $34.7 million forecast.
• The company declared a quarterly dividend of $0.3125 per share, equivalent to a 10.4% annualized yield; analysts’ average rating is Hold, with a $14 price target.

Spok Holdings, Inc. (NASDAQ:SPOK - Get Free Report) Director Brett Shockley sold 16,245 shares of Spok stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $12.05, for a total value of $195,752.25. Following the transaction, the director owned 26,817 shares in the company, valued at $323,144.85. This represents a 37.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Spok Price Performance

Spok stock traded up $0.07 during mid-day trading on Wednesday, hitting $12.07. The company's stock had a trading volume of 137,242 shares, compared to its average volume of 171,759. Spok Holdings, Inc. has a 52-week low of $9.95 and a 52-week high of $13.98. The company has a market cap of $252.63 million, a PE ratio of 13.56 and a beta of 0.47. The firm's 50 day moving average is $10.69 and its 200 day moving average is $11.28.

Spok (NASDAQ:SPOK - Get Free Report) last issued its earnings results on Wednesday, October 28th. The Wireless communications provider reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.30. The company had revenue of $33.00 million for the quarter, compared to the consensus estimate of $34.70 million. Spok had a return on equity of 13.12% and a net margin of 13.88%.

Spok Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 9th. Stockholders of record on Wednesday, November 18th will be paid a $0.3125 dividend. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 10.4%. Spok's dividend payout ratio is 140.45%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Weiss Ratings upgraded Spok from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, October 23rd. Wall Street Zen upgraded shares of Spok from a "hold" rating to a "buy" rating in a research note on Saturday. Two equities research analysts have rated the stock with a Hold rating. According to MarketBeat.com, Spok presently has an average rating of "Hold" and a consensus price target of $14.00.

Hedge Funds Weigh In On Spok

Several hedge funds have recently bought and sold shares of SPOK. Bank of New York Mellon Corp acquired a new position in shares of Spok during the 2nd quarter valued at about $2,397,000. Public Employees Retirement System of Ohio bought a new position in shares of Spok in the second quarter valued at approximately $213,000. Empowered Funds LLC acquired a new stake in shares of Spok in the first quarter worth $166,000. Renaissance Technologies LLC lifted its stake in shares of Spok by 1.2% in the first quarter. Renaissance Technologies LLC now owns 1,261,579 shares of the Wireless communications provider's stock worth $13,751,000 after buying an additional 15,000 shares during the last quarter. Finally, Amundi bought a new stake in shares of Spok during the 2nd quarter worth $125,000. 50.81% of the stock is owned by institutional investors and hedge funds.

Spok Company Profile

Spok Holdings, Inc is a healthcare communications technology company that provides software and services designed to help healthcare organizations manage critical information and coordinate clinical workflows. Its customers include hospitals, health systems, integrated delivery networks, government agencies and other organizations that require reliable communication for patient care and operational activities.

The company's offerings include secure messaging, clinical alerting, on-call scheduling, smartphone and mobile communications, operator console and contact-center capabilities, and workflow automation.

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