Los Angeles Capital Management LLC Sells 5,980 Shares of Spok Holdings, Inc. (NASDAQ:SPOK)

Los Angeles Capital Management LLC cut its holdings in shares of Spok Holdings, Inc. (NASDAQ:SPOK) by 10.9% during the first quarter, HoldingsChannel.com reports. The firm owned 48,900 shares of the Wireless communications provider’s stock after selling 5,980 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Spok were worth $780,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in SPOK. Natixis Advisors L.P. acquired a new position in Spok during the 3rd quarter valued at about $225,000. Corton Capital Inc. acquired a new position in Spok during the 3rd quarter valued at about $149,000. SG Americas Securities LLC lifted its position in Spok by 17.3% during the 4th quarter. SG Americas Securities LLC now owns 14,288 shares of the Wireless communications provider’s stock valued at $221,000 after purchasing an additional 2,105 shares during the period. Significant Wealth Partners LLC acquired a new position in Spok during the 4th quarter valued at about $365,000. Finally, Thompson Davis & CO. Inc. acquired a new position in Spok during the 4th quarter valued at about $167,000. 50.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Spok

In related news, Director Barbara Peterson Byrne sold 5,955 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $15.18, for a total value of $90,396.90. Following the sale, the director now directly owns 30,473 shares in the company, valued at approximately $462,580.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.88% of the stock is currently owned by corporate insiders.

Spok Price Performance

Shares of NASDAQ:SPOK opened at $14.39 on Tuesday. The company has a market capitalization of $291.40 million, a price-to-earnings ratio of 17.34 and a beta of 0.33. The firm’s 50 day simple moving average is $15.00 and its 200 day simple moving average is $15.68. Spok Holdings, Inc. has a fifty-two week low of $10.46 and a fifty-two week high of $18.14.

Spok (NASDAQ:SPOK) last announced its quarterly earnings results on Wednesday, May 1st. The Wireless communications provider reported $0.21 earnings per share for the quarter. The business had revenue of $34.91 million for the quarter. Spok had a net margin of 11.93% and a return on equity of 10.23%.

Spok Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, May 24th were given a $0.313 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.25 dividend on an annualized basis and a dividend yield of 8.70%. Spok’s dividend payout ratio is 150.60%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Spok from a “hold” rating to a “buy” rating in a research report on Thursday, May 30th.

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.