Spok (NASDAQ:SPOK) Director Christine Cournoyer Sells 8,320 Shares

Key Points

• Director Christine Cournoyer sold 8,320 Spok shares at an average price of $11.28, generating $93,849.60 and reducing her ownership by 33.85% to 16,261 shares.
• Spok reported quarterly EPS of $0.20, beating estimates of $0.15, while revenue reached $35.01 million versus expectations of $34.30 million.
• The company declared a quarterly dividend of $0.3125 per share, equivalent to $1.25 annually and a 10.9% yield. Analysts maintain a consensus “Hold” rating with a $14 average price target.

Spok Holdings, Inc. (NASDAQ:SPOK - Get Free Report) Director Christine Cournoyer sold 8,320 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $11.28, for a total value of $93,849.60. Following the transaction, the director owned 16,261 shares of the company's stock, valued at $183,424.08. This represents a 33.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Spok Stock Performance

Shares of NASDAQ:SPOK traded up $0.11 on Tuesday, hitting $11.44. The stock had a trading volume of 174,527 shares, compared to its average volume of 175,400. The firm's 50 day moving average price is $10.69 and its 200-day moving average price is $11.48. Spok Holdings, Inc. has a twelve month low of $9.95 and a twelve month high of $18.79. The company has a market capitalization of $239.30 million, a price-to-earnings ratio of 19.72 and a beta of 0.48.

Spok (NASDAQ:SPOK - Get Free Report) last announced its earnings results on Wednesday, July 29th. The Wireless communications provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.15 by $0.05. The business had revenue of $35.01 million during the quarter, compared to analysts' expectations of $34.30 million. Spok had a net margin of 9.00% and a return on equity of 8.50%. As a group, sell-side analysts predict that Spok Holdings, Inc. will post 0.66 EPS for the current year.

Spok Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Wednesday, August 19th will be paid a $0.3125 dividend. This represents a $1.25 annualized dividend and a dividend yield of 10.9%. The ex-dividend date of this dividend is Wednesday, August 19th. Spok's dividend payout ratio (DPR) is 215.52%.

Analysts Set New Price Targets

Several brokerages have weighed in on SPOK. Weiss Ratings raised Spok from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, July 28th. Wall Street Zen raised shares of Spok from a "sell" rating to a "hold" rating in a research note on Sunday, July 5th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $14.00.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp acquired a new stake in shares of Spok during the second quarter worth $2,397,000. Goldman Sachs Group Inc. lifted its stake in Spok by 33.4% in the first quarter. Goldman Sachs Group Inc. now owns 521,571 shares of the Wireless communications provider's stock valued at $8,575,000 after buying an additional 130,478 shares during the period. Millennium Management LLC boosted its holdings in Spok by 344.7% during the fourth quarter. Millennium Management LLC now owns 125,808 shares of the Wireless communications provider's stock worth $1,659,000 after buying an additional 97,515 shares during the last quarter. Trexquant Investment LP grew its position in shares of Spok by 92.0% during the 4th quarter. Trexquant Investment LP now owns 170,653 shares of the Wireless communications provider's stock worth $2,251,000 after buying an additional 81,784 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of Spok by 6.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,246,579 shares of the Wireless communications provider's stock worth $16,442,000 after buying an additional 74,029 shares during the period. Institutional investors and hedge funds own 50.81% of the company's stock.

About Spok

Spok, Inc is a publicly traded healthcare communications and collaboration company headquartered in Bellevue, Washington. The company specializes in providing secure, real-time clinical communication solutions designed to streamline workflows and enhance patient care. Serving hospitals, health systems, and other healthcare organizations across North America and selected international markets, Spok has positioned itself as a leading provider of secure messaging and nurse call integration.

Spok's flagship offering, the Spok Care Connect platform, delivers a suite of integrated products, including secure text and voice messaging, alarm and event management, call center solutions, and digital signage.

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