Prudential Financial Inc. Has $1.83 Million Stake in Spok Holdings, Inc. (NASDAQ:SPOK)

Prudential Financial Inc. lessened its position in Spok Holdings, Inc. (NASDAQ:SPOK - Free Report) by 46.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,040 shares of the Wireless communications provider's stock after selling 97,700 shares during the period. Prudential Financial Inc. owned about 0.56% of Spok worth $1,830,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Barclays PLC grew its holdings in Spok by 273.8% during 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 boosted its stake in shares of Spok by 10.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 25,998 shares of the Wireless communications provider's stock worth $422,000 after acquiring an additional 2,536 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Spok by 67.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 110,997 shares of the Wireless communications provider's stock worth $1,782,000 after acquiring an additional 44,896 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Spok by 2,263.5% in the 3rd 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 Spok by 39.9% during the 3rd quarter. FMR LLC now owns 14,479 shares of the Wireless communications provider's stock valued at $218,000 after purchasing an additional 4,130 shares during the last quarter. Institutional investors own 50.81% of the company's stock.

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Spok Stock Performance

NASDAQ:SPOK traded up $0.14 during mid-day trading on Wednesday, hitting $15.14. 223,825 shares of the stock were exchanged, compared to its average volume of 118,833. The firm's 50-day simple moving average is $16.26 and its 200 day simple moving average is $15.99. The stock has a market capitalization of $309.14 million, a price-to-earnings ratio of 20.74 and a beta of 0.40. Spok Holdings, Inc. has a fifty-two week low of $13.24 and a fifty-two week high of $17.96.

Spok (NASDAQ:SPOK - Get Free Report) last posted 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 return on equity of 9.20% and a net margin of 10.66%. The firm had revenue of $33.89 million for the quarter, compared to analyst estimates of $35.50 million. On average, analysts predict that Spok Holdings, Inc. will post 0.76 EPS for the current fiscal 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 paid a $0.3125 dividend. This represents a $1.25 annualized dividend and a dividend yield of 8.26%. The ex-dividend date was Friday, March 14th. Spok's dividend payout ratio (DPR) is currently 168.92%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SPOK shares. StockNews.com upgraded shares of Spok from a "buy" rating to a "strong-buy" rating in a report on Tuesday. B. Riley upgraded shares of Spok from a "neutral" rating to a "buy" rating and upped their price target for the company 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.