Hillsdale Investment Management Inc. Takes $3.76 Million Position in Spok Holdings, Inc. (NASDAQ:SPOK)

Hillsdale Investment Management Inc. bought a new stake in Spok Holdings, Inc. (NASDAQ:SPOK) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 235,700 shares of the Wireless communications provider’s stock, valued at approximately $3,759,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SPOK. Tower Research Capital LLC TRC lifted its stake in shares of Spok by 439.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,913 shares of the Wireless communications provider’s stock valued at $76,000 after purchasing an additional 4,003 shares during the period. Tucker Asset Management LLC bought a new position in Spok during the 4th quarter valued at approximately $126,000. BNP Paribas Financial Markets increased its position in Spok by 82.8% during the 1st quarter. BNP Paribas Financial Markets now owns 8,577 shares of the Wireless communications provider’s stock valued at $137,000 after buying an additional 3,884 shares in the last quarter. Thompson Davis & CO. Inc. bought a new position in Spok during the 4th quarter valued at approximately $167,000. Finally, Principal Financial Group Inc. bought a new position in Spok during the 1st quarter valued at approximately $170,000. Hedge funds and other institutional investors own 50.81% of the company’s stock.

Spok Price Performance

SPOK stock traded up $0.59 on Monday, reaching $16.67. 205,389 shares of the company traded hands, compared to its average volume of 139,484. Spok Holdings, Inc. has a one year low of $10.95 and a one year high of $18.14. The company has a market cap of $337.57 million, a P/E ratio of 20.08 and a beta of 0.35. The firm has a fifty day simple moving average of $15.12 and a 200-day simple moving average of $15.74.

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

Spok Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Friday, May 24th were issued a $0.313 dividend. This represents a $1.25 dividend on an annualized basis and a dividend yield of 7.51%. The ex-dividend date of this dividend was Thursday, May 23rd. Spok’s payout ratio is 150.60%.

Insiders Place Their Bets

In other Spok news, Director Barbara Peterson Byrne sold 5,955 shares of Spok stock in a transaction on Friday, May 10th. The stock was sold at an average price of $15.18, for a total value of $90,396.90. Following the completion of the sale, the director now owns 30,473 shares of the company’s stock, valued at approximately $462,580.14. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 11.88% of the company’s stock.

Analyst Ratings Changes

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

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.