Spok Holdings, Inc. (NASDAQ:SPOK) Sees Large Drop in Short Interest

Spok Holdings, Inc. (NASDAQ:SPOK - Get Free Report) saw a large decline in short interest in September. As of September 15th, there was short interest totalling 330,000 shares, a decline of 23.9% from the August 31st total of 433,700 shares. Based on an average trading volume of 117,600 shares, the days-to-cover ratio is presently 2.8 days.

Analysts Set New Price Targets

A number of analysts have weighed in on SPOK shares. StockNews.com cut Spok from a "buy" rating to a "hold" rating in a research note on Thursday. B. Riley initiated coverage on Spok in a research report on Thursday. They set a "neutral" rating and a $15.00 target price on the stock.

Insider Buying and Selling at Spok

In other news, CEO Vincent D. Kelly sold 45,000 shares of the firm's stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $14.83, for a total value of $667,350.00. Following the completion of the transaction, the chief executive officer now owns 201,645 shares of the company's stock, valued at $2,990,395.35. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Vincent D. Kelly sold 45,000 shares of Spok stock in a transaction on Monday, August 19th. The stock was sold at an average price of $14.83, for a total value of $667,350.00. Following the completion of the transaction, the chief executive officer now directly owns 201,645 shares in the company, valued at $2,990,395.35. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Michael W. Wallace sold 25,000 shares of the company's stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $14.80, for a total value of $370,000.00. Following the sale, the chief operating officer now owns 49,465 shares in the company, valued at approximately $732,082. The disclosure for this sale can be found here. 11.88% of the stock is currently owned by corporate insiders.

Institutional Trading of Spok

Hedge funds have recently modified their holdings of the business. Gladius Capital Management LP purchased a new position in Spok in the second quarter valued at about $112,000. Tucker Asset Management LLC purchased a new position in Spok in the 4th quarter valued at approximately $126,000. BNP Paribas Financial Markets raised its holdings in Spok by 82.8% during the first quarter. BNP Paribas Financial Markets now owns 8,577 shares of the Wireless communications provider's stock worth $137,000 after purchasing an additional 3,884 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in Spok during the first quarter worth $170,000. Finally, Redhawk Wealth Advisors Inc. purchased a new position in shares of Spok in the second quarter valued at $196,000. 50.81% of the stock is owned by institutional investors and hedge funds.

Spok Stock Up 1.1 %

SPOK stock traded up $0.17 during trading on Friday, hitting $15.16. The company had a trading volume of 145,025 shares, compared to its average volume of 134,986. The firm has a 50-day moving average price of $15.09 and a 200-day moving average price of $15.27. The firm has a market cap of $306.93 million, a PE ratio of 18.27 and a beta of 0.33. Spok has a 1-year low of $13.24 and a 1-year high of $18.14.

Spok (NASDAQ:SPOK - Get Free Report) last released its earnings results on Wednesday, July 24th. The Wireless communications provider reported $0.17 earnings per share (EPS) for the quarter. Spok had a return on equity of 9.56% and a net margin of 11.19%. The business had revenue of $33.98 million for the quarter.

Spok Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 19th were given a dividend of $0.313 per share. This represents a $1.25 annualized dividend and a yield of 8.26%. The ex-dividend date of this dividend was Monday, August 19th. Spok's payout ratio is 150.60%.

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.

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