Allspring Global Investments Holdings LLC Cuts Holdings in Spok Holdings, Inc. (NASDAQ:SPOK)

Allspring Global Investments Holdings LLC lessened its stake in Spok Holdings, Inc. (NASDAQ:SPOK) by 7.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 103,107 shares of the Wireless communications provider’s stock after selling 7,890 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.50% of Spok worth $1,695,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC raised its holdings in Spok by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 514,427 shares of the Wireless communications provider’s stock worth $8,258,000 after purchasing an additional 6,591 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Spok by 7.6% in the 4th quarter. JPMorgan Chase & Co. now owns 213,575 shares of the Wireless communications provider’s stock valued at $3,428,000 after buying an additional 15,156 shares during the last quarter. Northern Trust Corp raised its stake in Spok by 4.1% during the 4th quarter. Northern Trust Corp now owns 207,068 shares of the Wireless communications provider’s stock worth $3,323,000 after acquiring an additional 8,175 shares in the last quarter. Trexquant Investment LP lifted its position in Spok by 49.8% in the fourth quarter. Trexquant Investment LP now owns 106,467 shares of the Wireless communications provider’s stock valued at $1,709,000 after acquiring an additional 35,401 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Spok by 133.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 105,241 shares of the Wireless communications provider’s stock valued at $1,689,000 after acquiring an additional 60,256 shares in the last quarter. Hedge funds and other institutional investors own 50.81% of the company’s stock.

Insider Buying and Selling at Spok

In other news, COO Michael W. Wallace sold 6,000 shares of the company’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $16.53, for a total value of $99,180.00. Following the completion of the transaction, the chief operating officer directly owned 61,175 shares in the company, valued at approximately $1,011,222.75. This represents a 8.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vincent D. Kelly sold 30,000 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $16.40, for a total transaction of $492,000.00. Following the transaction, the chief executive officer owned 157,817 shares in the company, valued at $2,588,198.80. This trade represents a 15.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.37% of the company’s stock.

Spok Stock Performance

NASDAQ:SPOK opened at $17.97 on Tuesday. Spok Holdings, Inc. has a 1 year low of $13.55 and a 1 year high of $18.29. The stock has a fifty day moving average price of $16.57 and a two-hundred day moving average price of $16.22. The stock has a market capitalization of $369.64 million, a price-to-earnings ratio of 23.04 and a beta of 0.58.

Spok (NASDAQ:SPOK) last posted its earnings results on Wednesday, April 30th. The Wireless communications provider reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.07. The company had revenue of $36.29 million for the quarter, compared to analyst estimates of $34.00 million. Spok had a return on equity of 10.26% and a net margin of 11.45%. On average, analysts predict that Spok Holdings, Inc. will post 0.76 EPS for the current year.

Spok Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 24th. Stockholders of record on Friday, May 23rd were paid a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a dividend yield of 6.96%. The ex-dividend date was Friday, May 23rd. Spok’s dividend payout ratio is presently 160.26%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Wall Street Zen upgraded Spok from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 10th. B. Riley raised shares of Spok to a “strong-buy” rating in a report on Thursday, May 1st.

Spok Profile

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.