HighTower Advisors LLC Sells 6,555 Shares of Spok Holdings, Inc. (NASDAQ:SPOK)

HighTower Advisors LLC reduced its position in Spok Holdings, Inc. (NASDAQ:SPOK) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 666,713 shares of the Wireless communications provider’s stock after selling 6,555 shares during the quarter. HighTower Advisors LLC owned approximately 3.29% of Spok worth $10,701,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC lifted its position in Spok by 273.8% in the third quarter. Barclays PLC now owns 24,078 shares of the Wireless communications provider’s stock worth $362,000 after purchasing an additional 17,637 shares during the period. Sanctuary Advisors LLC lifted its holdings in shares of Spok by 10.8% during the third quarter. Sanctuary Advisors LLC now owns 25,998 shares of the Wireless communications provider’s stock valued at $422,000 after acquiring an additional 2,536 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Spok by 67.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 110,997 shares of the Wireless communications provider’s stock valued at $1,782,000 after acquiring an additional 44,896 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Spok by 2,263.5% during the third quarter. JPMorgan Chase & Co. now owns 198,419 shares of the Wireless communications provider’s stock valued at $2,988,000 after acquiring an additional 190,024 shares during the period. Finally, FMR LLC lifted its holdings in shares of Spok by 39.9% during the third quarter. FMR LLC now owns 14,479 shares of the Wireless communications provider’s stock valued at $218,000 after acquiring an additional 4,130 shares during the period. 50.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SPOK. StockNews.com cut Spok from a “strong-buy” rating to a “buy” rating in a report on Thursday. B. Riley raised Spok from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $15.00 to $20.00 in a report on Thursday, February 27th.

Spok Stock Performance

Shares of NASDAQ SPOK opened at $15.79 on Monday. Spok Holdings, Inc. has a 52-week low of $13.24 and a 52-week high of $17.96. The stock has a market cap of $322.42 million, a PE ratio of 21.63 and a beta of 0.29. The business has a fifty day moving average of $16.30 and a two-hundred day moving average of $15.88.

Spok (NASDAQ:SPOK) last announced its earnings results on Wednesday, February 26th. The Wireless communications provider reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). Spok had a net margin of 10.66% and a return on equity of 9.20%. The business had revenue of $33.89 million during the quarter, compared to analyst estimates of $35.50 million. Analysts predict that Spok Holdings, Inc. will post 0.76 earnings per share for the current year.

Spok Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.3125 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 7.92%. Spok’s dividend payout ratio (DPR) is presently 168.92%.

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.