Spok (NASDAQ:SPOK) Announces Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Spok (NASDAQ:SPOK) posted its earnings results on Wednesday. The Wireless communications provider reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.05, FiscalAI reports. Spok had a net margin of 9.27% and a return on equity of 8.64%. The firm had revenue of $35.01 million during the quarter, compared to analyst estimates of $34.30 million.

Spok Stock Up 0.6%

NASDAQ SPOK traded up $0.07 on Wednesday, reaching $10.96. 135,428 shares of the stock traded hands, compared to its average volume of 175,114. The firm’s fifty day simple moving average is $10.63 and its 200 day simple moving average is $11.61. The company has a market cap of $228.92 million, a price-to-earnings ratio of 18.27 and a beta of 0.47. Spok has a 12 month low of $9.95 and a 12 month high of $19.31.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SPOK shares. Weiss Ratings raised Spok from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday. Wall Street Zen raised Spok from a “sell” rating to a “hold” rating in a report on Sunday, July 5th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $14.00.

Insider Buying and Selling at Spok

In other Spok news, CEO Vincent D. Kelly purchased 5,000 shares of the company’s stock in a transaction on Monday, May 11th. The shares were purchased at an average cost of $10.67 per share, for a total transaction of $53,350.00. Following the completion of the transaction, the chief executive officer owned 162,565 shares in the company, valued at $1,734,568.55. The trade was a 3.17% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.28% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Spok

A number of hedge funds have recently modified their holdings of SPOK. Occudo Quantitative Strategies LP lifted its stake in Spok by 5.9% during the fourth quarter. Occudo Quantitative Strategies LP now owns 13,532 shares of the Wireless communications provider’s stock valued at $178,000 after buying an additional 754 shares in the last quarter. Oxford Asset Management LLP acquired a new stake in Spok during the 4th quarter valued at $137,000. Millennium Management LLC raised its stake in Spok by 344.7% during the 4th quarter. Millennium Management LLC now owns 125,808 shares of the Wireless communications provider’s stock valued at $1,659,000 after purchasing an additional 97,515 shares during the period. Man Group plc lifted its holdings in shares of Spok by 4.2% in the fourth quarter. Man Group plc now owns 26,439 shares of the Wireless communications provider’s stock valued at $349,000 after purchasing an additional 1,065 shares in the last quarter. Finally, Engineers Gate Manager LP lifted its holdings in shares of Spok by 9.3% in the fourth quarter. Engineers Gate Manager LP now owns 36,356 shares of the Wireless communications provider’s stock valued at $480,000 after purchasing an additional 3,104 shares in the last quarter. 50.81% of the stock is currently owned by institutional investors and hedge funds.

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.