HighTower Advisors LLC Has $10.70 Million Position in Spok Holdings, Inc. (NASDAQ:SPOK)

HighTower Advisors LLC reduced its stake in shares of Spok Holdings, Inc. (NASDAQ:SPOK) by 1.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 666,713 shares of the Wireless communications provider’s stock after selling 6,555 shares during the quarter. HighTower Advisors LLC’s holdings in Spok were worth $10,701,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SPOK. Larson Financial Group LLC acquired a new position in shares of Spok during the 3rd quarter worth about $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 worth $58,000 after buying an additional 609 shares during the period. FMR LLC grew its position in shares of Spok by 39.9% during the 3rd 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 period. Stifel Financial Corp acquired a new position in shares of Spok during the 3rd quarter worth about $264,000. Finally, Martingale Asset Management L P lifted its holdings in shares of Spok by 13.6% during the 3rd 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. 50.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SPOK has been the topic of several recent analyst reports. B. Riley upgraded Spok from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $15.00 to $20.00 in a report on Thursday, February 27th. StockNews.com cut Spok from a “strong-buy” rating to a “buy” rating in a report on Thursday.

Spok Price Performance

NASDAQ:SPOK opened at $15.79 on Monday. Spok Holdings, Inc. has a fifty-two week low of $13.24 and a fifty-two week high of $17.96. The stock has a market capitalization of $322.42 million, a PE ratio of 21.63 and a beta of 0.29. The business’s 50-day simple moving average is $16.30 and its 200-day simple moving average is $15.88.

Spok (NASDAQ:SPOK) last released its earnings results on Wednesday, February 26th. The Wireless communications provider reported $0.18 EPS 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 net margin of 10.66% and a return on equity of 9.20%. On average, research analysts expect that Spok Holdings, Inc. will post 0.76 earnings per share for the current year.

Spok Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.3125 dividend. This represents a $1.25 annualized dividend and a yield of 7.92%. The ex-dividend date of this dividend is Friday, March 14th. Spok’s payout ratio is 168.92%.

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.