Los Angeles Capital Management LLC Sells 7,000 Shares of Spok Holdings, Inc. (NASDAQ:SPOK)

Los Angeles Capital Management LLC lessened its holdings in Spok Holdings, Inc. (NASDAQ:SPOK) by 17.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 32,500 shares of the Wireless communications provider’s stock after selling 7,000 shares during the period. Los Angeles Capital Management LLC’s holdings in Spok were worth $522,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC purchased a new stake in Spok during the third quarter valued at approximately $26,000. BNP Paribas Financial Markets grew its position in shares of Spok by 18.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,837 shares of the Wireless communications provider’s stock valued at $58,000 after acquiring an additional 609 shares during the period. FMR LLC increased its stake in shares of Spok by 39.9% in the 3rd quarter. FMR LLC now owns 14,479 shares of the Wireless communications provider’s stock worth $218,000 after purchasing an additional 4,130 shares in the last quarter. Stifel Financial Corp bought a new position in Spok in the 3rd quarter worth $264,000. Finally, Martingale Asset Management L P lifted its position in Spok by 13.6% during the third quarter. Martingale Asset Management L P now owns 19,169 shares of the Wireless communications provider’s stock valued at $289,000 after purchasing an additional 2,302 shares in the last quarter. Hedge funds and other institutional investors own 50.81% of the company’s stock.

Spok Price Performance

SPOK opened at $16.63 on Tuesday. The company has a 50 day simple moving average of $16.25 and a two-hundred day simple moving average of $15.79. The firm has a market cap of $337.12 million, a P/E ratio of 22.78 and a beta of 0.33. Spok Holdings, Inc. has a 1-year low of $13.24 and a 1-year high of $18.14.

Spok (NASDAQ:SPOK) last issued its earnings results on Wednesday, February 26th. The Wireless communications provider reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.02). The firm 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 analysts anticipate that Spok Holdings, Inc. will post 0.76 earnings per share for the current year.

Spok Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a yield of 7.52%. The ex-dividend date is Friday, March 14th. Spok’s dividend payout ratio (DPR) is presently 168.92%.

Analysts Set New Price Targets

Separately, B. Riley upgraded Spok from a “neutral” rating to a “buy” rating and upped their price target for the stock from $15.00 to $20.00 in a research report on Thursday, February 27th.

Spok Company 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.