Spok Holdings, Inc. (NASDAQ:SPOK) Sees Large Increase in Short Interest

Key Points

• Short interest in Spok Holdings increased by 66.7% in August, reaching a total of 266,400 shares.
• CEO Vincent D. Kelly reduced his position by 19.56% by selling 25,000 shares, while COO Michael W. Wallace sold 10,806 shares, representing a 21.12% decrease.
• Spok recently declared a quarterly dividend of $0.3125 per share, translating to a 7.2% yield and a payout ratio of 150.60%.

Spok Holdings, Inc. (NASDAQ:SPOK - Get Free Report) was the recipient of a large growth in short interest in August. As of August 15th, there was short interest totaling 266,400 shares, a growth of 66.7% from the July 31st total of 159,800 shares. Based on an average daily volume of 127,900 shares, the days-to-cover ratio is currently 2.1 days. Based on an average daily volume of 127,900 shares, the days-to-cover ratio is currently 2.1 days.

Spok Stock Up 2.1%

Spok stock traded up $0.36 during trading hours on Thursday, hitting $17.65. The stock had a trading volume of 87,495 shares, compared to its average volume of 129,949. Spok has a fifty-two week low of $13.55 and a fifty-two week high of $19.31. The company has a 50-day moving average of $17.90 and a two-hundred day moving average of $16.78. The company has a market cap of $363.41 million, a PE ratio of 21.27 and a beta of 0.55.

Spok (NASDAQ:SPOK - Get Free Report) last announced its 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 net margin of 12.12% and a return on equity of 11.11%. The business had revenue of $35.69 million during the quarter, compared to analysts' expectations of $35.00 million. Spok has set its FY 2025 guidance at EPS. As a group, analysts forecast that Spok will post 0.76 EPS for the current fiscal year.

Spok Announces Dividend

The firm also recently announced 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 yield of 7.1%. The ex-dividend date of this dividend was Tuesday, August 19th. Spok's dividend payout ratio is presently 150.60%.

Insider Activity

In other Spok news, CEO Vincent D. Kelly sold 25,000 shares of the firm's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $17.69, for a total value of $442,250.00. Following the completion of the transaction, the chief executive officer directly owned 102,817 shares in the company, valued at $1,818,832.73. This trade represents a 19.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Michael W. Wallace sold 10,806 shares of the firm's stock in a transaction dated 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 owned 40,369 shares of the company's stock, valued at $721,394.03. The trade was 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 insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Ameritas Investment Partners Inc. grew its stake in shares of Spok by 41.7% in the second quarter. Ameritas Investment Partners Inc. now owns 2,080 shares of the Wireless communications provider's stock valued at $37,000 after buying an additional 612 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Spok by 40.0% during the second quarter. Russell Investments Group Ltd. now owns 2,613 shares of the Wireless communications provider's stock worth $46,000 after buying an additional 747 shares in the last quarter. SBI Securities Co. Ltd. increased its stake in shares of Spok by 62.2% in the 1st quarter. SBI Securities Co. Ltd. now owns 2,200 shares of the Wireless communications provider's stock valued at $36,000 after purchasing an additional 844 shares during the last quarter. Virtus Investment Advisers LLC increased its position in Spok by 9.3% during the 2nd quarter. Virtus Investment Advisers LLC now owns 10,267 shares of the Wireless communications provider's stock worth $182,000 after purchasing an additional 875 shares in the last quarter. Finally, Significant Wealth Partners LLC lifted its stake in shares of Spok by 4.5% in the 2nd quarter. Significant Wealth Partners LLC now owns 23,172 shares of the Wireless communications provider's stock valued at $410,000 after acquiring an additional 1,005 shares during the last quarter. 50.81% of the stock is currently owned by institutional investors.

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.