Magnetar Financial LLC Makes New $513,000 Investment in Spok Holdings, Inc. (NASDAQ:SPOK)

Magnetar Financial LLC purchased a new position in shares of Spok Holdings, Inc. (NASDAQ:SPOK) during the second quarter, Holdings Channel.com reports. The fund purchased 34,608 shares of the Wireless communications provider’s stock, valued at approximately $513,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Gladius Capital Management LP purchased a new stake in Spok during the second quarter worth about $112,000. Tucker Asset Management LLC acquired a new position in shares of Spok during the fourth quarter worth about $126,000. BNP Paribas Financial Markets grew its position in shares of Spok by 82.8% during the first quarter. BNP Paribas Financial Markets now owns 8,577 shares of the Wireless communications provider’s stock worth $137,000 after buying an additional 3,884 shares in the last quarter. Principal Financial Group Inc. acquired a new position in shares of Spok during the first quarter worth about $170,000. Finally, Redhawk Wealth Advisors Inc. acquired a new position in shares of Spok during the second quarter worth about $196,000. 50.81% of the stock is currently owned by hedge funds and other institutional investors.

Spok Stock Down 0.7 %

Shares of SPOK opened at $15.20 on Wednesday. The stock has a 50 day moving average price of $15.16 and a 200 day moving average price of $15.29. The company has a market capitalization of $307.95 million, a price-to-earnings ratio of 18.31 and a beta of 0.33. Spok Holdings, Inc. has a 52-week low of $13.24 and a 52-week high of $18.14.

Spok (NASDAQ:SPOK) last announced its quarterly earnings results on Wednesday, July 24th. The Wireless communications provider reported $0.17 earnings per share (EPS) for the quarter. The firm had revenue of $33.98 million during the quarter. Spok had a return on equity of 9.56% and a net margin of 11.19%.

Spok Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 19th were issued a $0.313 dividend. This represents a $1.25 dividend on an annualized basis and a yield of 8.24%. The ex-dividend date of this dividend was Monday, August 19th. Spok’s dividend payout ratio (DPR) is 150.60%.

Insider Activity at Spok

In related news, CEO Vincent D. Kelly sold 45,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $14.83, for a total value of $667,350.00. Following the completion of the transaction, the chief executive officer now directly owns 201,645 shares of the company’s stock, valued at $2,990,395.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Spok news, COO Michael W. Wallace sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $14.80, for a total value of $370,000.00. Following the completion of the sale, the chief operating officer now owns 49,465 shares in the company, valued at $732,082. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Vincent D. Kelly sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $14.83, for a total value of $667,350.00. Following the completion of the sale, the chief executive officer now owns 201,645 shares of the company’s stock, valued at approximately $2,990,395.35. The disclosure for this sale can be found here. 11.88% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, StockNews.com raised Spok from a “hold” rating to a “buy” rating in a research report on Saturday, August 3rd.

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.