Bank of New York Mellon Corp Sells 28,728 Shares of Spok Holdings, Inc. (NASDAQ:SPOK)

Bank of New York Mellon Corp trimmed its holdings in shares of Spok Holdings, Inc. (NASDAQ:SPOK - Free Report) by 12.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 199,989 shares of the Wireless communications provider's stock after selling 28,728 shares during the period. Bank of New York Mellon Corp owned about 0.99% of Spok worth $3,210,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SPOK. JPMorgan Chase & Co. boosted 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 worth $2,988,000 after purchasing an additional 190,024 shares during the period. Inspire Investing LLC purchased a new stake in shares of Spok during the fourth quarter worth about $801,000. Allspring Global Investments Holdings LLC raised its stake in Spok by 67.9% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 110,997 shares of the Wireless communications provider's stock worth $1,782,000 after buying an additional 44,896 shares in the last quarter. Kingsview Wealth Management LLC bought a new position in Spok in the third quarter worth about $529,000. Finally, Quest Partners LLC bought a new position in Spok in the third quarter worth about $473,000. 50.81% of the stock is currently owned by hedge funds and other institutional investors.

Spok Stock Down 0.1 %

Shares of NASDAQ SPOK traded down $0.02 on Friday, reaching $15.89. 137,962 shares of the company's stock traded hands, compared to its average volume of 116,681. The business's 50 day simple moving average is $16.33 and its two-hundred day simple moving average is $15.91. Spok Holdings, Inc. has a 12 month low of $13.24 and a 12 month high of $17.96. The company has a market cap of $324.46 million, a price-to-earnings ratio of 21.77 and a beta of 0.29.

Remove Ads

Spok (NASDAQ:SPOK - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The Wireless communications provider reported $0.18 EPS 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 firm had revenue of $33.89 million for the quarter, compared to analysts' expectations of $35.50 million. Analysts forecast that Spok Holdings, Inc. will post 0.76 earnings per share for the current fiscal year.

Spok Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a dividend yield of 7.87%. The ex-dividend date is Friday, March 14th. Spok's payout ratio is 168.92%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SPOK shares. StockNews.com raised shares of Spok from a "buy" rating to a "strong-buy" rating in a research note on Friday. B. Riley raised shares of Spok from a "neutral" rating to a "buy" rating and increased their price target for the stock from $15.00 to $20.00 in a research note on Thursday, February 27th.

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.