Los Angeles Capital Management LLC Cuts Stock Position in Spok Holdings, Inc. (NASDAQ:SPOK)

Los Angeles Capital Management LLC decreased its stake in shares of Spok Holdings, Inc. (NASDAQ:SPOK) by 17.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,500 shares of the Wireless communications provider’s stock after selling 7,000 shares during the quarter. Los Angeles Capital Management LLC owned about 0.16% of Spok worth $522,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Larson Financial Group LLC bought a new position in shares of Spok during the third quarter valued at $26,000. BNP Paribas Financial Markets increased its stake in 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 purchasing an additional 609 shares in the last quarter. FMR LLC raised its holdings in Spok by 39.9% in the third quarter. FMR LLC now owns 14,479 shares of the Wireless communications provider’s stock worth $218,000 after buying an additional 4,130 shares during the last quarter. Stifel Financial Corp bought a new position in shares of Spok in the third quarter worth approximately $264,000. Finally, Martingale Asset Management L P grew its holdings in shares of 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 buying an additional 2,302 shares during the last quarter. 50.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Spok Price Performance

Shares of NASDAQ:SPOK opened at $16.63 on Tuesday. Spok Holdings, Inc. has a 1 year low of $13.24 and a 1 year high of $18.14. The company has a market cap of $337.12 million, a P/E ratio of 22.78 and a beta of 0.33. The stock’s fifty day moving average price is $16.25 and its 200-day moving average price is $15.79.

Spok (NASDAQ:SPOK) last posted its earnings results on Wednesday, February 26th. The Wireless communications provider reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). The company had revenue of $33.89 million for the quarter, compared to the consensus estimate of $35.50 million. Spok had a net margin of 10.66% and a return on equity of 9.20%. On average, sell-side analysts anticipate that Spok Holdings, Inc. will post 0.76 earnings per share for the current year.

Spok Cuts Dividend

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

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.