Foundry Partners LLC Sells 75,215 Shares of Spok Holdings, Inc. (NASDAQ:SPOK)

Foundry Partners LLC trimmed its stake in shares of Spok Holdings, Inc. (NASDAQ:SPOK - Free Report) by 17.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 362,040 shares of the Wireless communications provider's stock after selling 75,215 shares during the quarter. Foundry Partners LLC owned about 1.79% of Spok worth $5,811,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. New Age Alpha Advisors LLC acquired a new position in shares of Spok in the fourth quarter valued at about $34,000. BNP Paribas Financial Markets raised its stake in Spok by 18.9% in the third quarter. BNP Paribas Financial Markets now owns 3,837 shares of the Wireless communications provider's stock valued at $58,000 after purchasing an additional 609 shares in the last quarter. FMR LLC increased its holdings in Spok by 39.9% in the 3rd quarter. FMR LLC now owns 14,479 shares of the Wireless communications provider's stock valued at $218,000 after buying an additional 4,130 shares during the period. Stifel Financial Corp bought a new stake in shares of Spok during the 3rd quarter worth approximately $264,000. Finally, Barclays PLC boosted its position in shares of Spok by 273.8% during the 3rd quarter. Barclays PLC now owns 24,078 shares of the Wireless communications provider's stock worth $362,000 after acquiring an additional 17,637 shares in the last quarter. 50.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. StockNews.com upgraded shares of Spok from a "buy" rating to a "strong-buy" rating in a research report on Tuesday. B. Riley raised Spok from a "neutral" rating to a "buy" rating and upped their target price for the stock from $15.00 to $20.00 in a report on Thursday, February 27th.

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Spok Stock Performance

Shares of SPOK stock traded down $0.08 on Thursday, hitting $15.06. The company had a trading volume of 50,437 shares, compared to its average volume of 118,573. The stock's 50-day moving average is $16.26 and its two-hundred day moving average is $15.99. The firm has a market cap of $307.51 million, a P/E ratio of 20.51 and a beta of 0.40. Spok Holdings, Inc. has a twelve month low of $13.24 and a twelve month high of $17.96.

Spok (NASDAQ:SPOK - Get Free Report) last issued 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). The business had revenue of $33.89 million during the quarter, compared to the consensus estimate of $35.50 million. Spok had a return on equity of 9.20% and a net margin of 10.66%. Equities research analysts predict that Spok Holdings, Inc. will post 0.76 EPS for the current year.

Spok Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $0.3125 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.25 annualized dividend and a yield of 8.30%. Spok's dividend payout ratio (DPR) is currently 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.