Quantinno Capital Management LP Trims Holdings in Spok Holdings, Inc. $SPOK

Quantinno Capital Management LP reduced its stake in Spok Holdings, Inc. (NASDAQ:SPOK) by 71.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 26,150 shares of the Wireless communications provider’s stock after selling 66,576 shares during the quarter. Quantinno Capital Management LP’s holdings in Spok were worth $285,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SPOK. Lazard Asset Management LLC raised its position in Spok by 8,427.8% in the second quarter. Lazard Asset Management LLC now owns 66,261 shares of the Wireless communications provider’s stock valued at $1,171,000 after purchasing an additional 65,484 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Spok by 345.3% during the second quarter. BNP Paribas Financial Markets now owns 4,872 shares of the Wireless communications provider’s stock worth $86,000 after buying an additional 3,778 shares during the period. Bank of America Corp DE grew its stake in shares of Spok by 121.3% in the second quarter. Bank of America Corp DE now owns 46,737 shares of the Wireless communications provider’s stock valued at $826,000 after buying an additional 25,621 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Spok in the second quarter valued at $156,000. Finally, Qube Research & Technologies Ltd raised its holdings in shares of Spok by 16.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 145,818 shares of the Wireless communications provider’s stock valued at $2,578,000 after buying an additional 20,730 shares during the period. Hedge funds and other institutional investors own 50.81% of the company’s stock.

Insider Buying and Selling at Spok

In related news, Director Christine Cournoyer sold 8,320 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $11.28, for a total value of $93,849.60. Following the sale, the director owned 16,261 shares of the company’s stock, valued at $183,424.08. This trade represents a 33.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 7.28% of the company’s stock.

Spok Price Performance

SPOK opened at $10.31 on Monday. Spok Holdings, Inc. has a 12 month low of $9.95 and a 12 month high of $18.26. The stock has a market capitalization of $215.69 million, a price-to-earnings ratio of 17.78 and a beta of 0.48. The business has a fifty day moving average price of $10.70 and a 200 day moving average price of $11.31.

Spok (NASDAQ:SPOK) last issued its quarterly earnings results on Wednesday, July 29th. The Wireless communications provider reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.05. The company had revenue of $35.01 million for the quarter, compared to the consensus estimate of $34.30 million. Spok had a return on equity of 8.50% and a net margin of 9.00%. On average, research analysts anticipate that Spok Holdings, Inc. will post 0.66 earnings per share for the current year.

Spok Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Wednesday, August 19th will be paid a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a dividend yield of 12.1%. The ex-dividend date is Wednesday, August 19th. Spok’s dividend payout ratio is presently 215.52%.

Analysts Set New Price Targets

SPOK has been the subject of a number of research analyst reports. Weiss Ratings upgraded Spok from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 28th. Wall Street Zen upgraded 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, Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $14.00.

Spok Profile

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.