JPMorgan Chase & Co. Trims Position in Spok Holdings, Inc. $SPOK

JPMorgan Chase & Co. cut its holdings in shares of Spok Holdings, Inc. (NASDAQ:SPOK) by 48.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 114,533 shares of the Wireless communications provider’s stock after selling 109,520 shares during the quarter. JPMorgan Chase & Co. owned 0.56% of Spok worth $1,976,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Triumph Capital Management purchased a new position in Spok during the 3rd quarter worth approximately $105,000. Qube Research & Technologies Ltd raised its position in Spok by 11.1% during the 3rd quarter. Qube Research & Technologies Ltd now owns 161,975 shares of the Wireless communications provider’s stock worth $2,794,000 after buying an additional 16,157 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Spok by 27.1% during the 3rd quarter. Bank of America Corp DE now owns 59,416 shares of the Wireless communications provider’s stock worth $1,025,000 after purchasing an additional 12,679 shares during the period. Algert Global LLC acquired a new stake in shares of Spok during the 3rd quarter worth approximately $190,000. Finally, Alliancebernstein L.P. increased its holdings in shares of Spok by 11.3% during the 3rd quarter. Alliancebernstein L.P. now owns 20,660 shares of the Wireless communications provider’s stock valued at $356,000 after purchasing an additional 2,100 shares in the last quarter. 50.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. B. Riley Financial lowered shares of Spok from a “buy” rating to a “neutral” rating and cut their target price for the company from $21.00 to $14.00 in a report on Thursday, February 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Spok in a report on Monday, December 29th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $14.00.

Spok Price Performance

NASDAQ:SPOK opened at $11.15 on Wednesday. The firm has a market cap of $231.14 million, a price-to-earnings ratio of 14.67 and a beta of 0.49. The company has a 50 day moving average price of $12.41 and a 200-day moving average price of $13.57. Spok Holdings, Inc. has a 1-year low of $10.81 and a 1-year high of $19.31.

Spok (NASDAQ:SPOK) last posted its earnings results on Wednesday, February 25th. The Wireless communications provider reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.04). The firm had revenue of $33.86 million for the quarter, compared to analysts’ expectations of $34.60 million. Spok had a net margin of 11.37% and a return on equity of 10.63%. On average, sell-side analysts anticipate that Spok Holdings, Inc. will post 0.76 earnings per share for the current fiscal year.

Spok Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 16th were issued a $0.3125 dividend. This represents a $1.25 annualized dividend and a yield of 11.2%. The ex-dividend date of this dividend was Monday, March 16th. Spok’s payout ratio is presently 164.47%.

Spok Company Profile

Spok, Inc is a publicly traded healthcare communications and collaboration company headquartered in Bellevue, Washington. The company specializes in providing secure, real-time clinical communication solutions designed to streamline workflows and enhance patient care. Serving hospitals, health systems, and other healthcare organizations across North America and selected international markets, Spok has positioned itself as a leading provider of secure messaging and nurse call integration.

Spok’s flagship offering, the Spok Care Connect platform, delivers a suite of integrated products, including secure text and voice messaging, alarm and event management, call center solutions, and digital signage.