Spok Holdings, Inc. (NASDAQ:SPOK) Sees Large Increase in Short Interest

Spok Holdings, Inc. (NASDAQ:SPOK) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 433,700 shares, an increase of 20.5% from the August 15th total of 359,800 shares. Based on an average trading volume of 119,600 shares, the short-interest ratio is currently 3.6 days.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, COO Michael W. Wallace sold 25,000 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $14.80, for a total value of $370,000.00. Following the transaction, the chief operating officer now directly owns 49,465 shares of the company’s stock, valued at $732,082. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Spok news, COO Michael W. Wallace sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $14.80, for a total value of $370,000.00. Following the transaction, the chief operating officer now directly owns 49,465 shares of the company’s stock, valued at approximately $732,082. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Vincent D. Kelly sold 45,000 shares of Spok stock in a transaction dated 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 transaction, the chief executive officer now owns 201,645 shares in the company, 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 company insiders.

Institutional Investors Weigh In On Spok

Several hedge funds and other institutional investors have recently made changes to their positions in SPOK. Gladius Capital Management LP bought a new stake in Spok in the 2nd quarter worth approximately $112,000. Tucker Asset Management LLC purchased a new stake in Spok in the 4th quarter worth about $126,000. BNP Paribas Financial Markets lifted its stake in shares of Spok by 82.8% during the 1st quarter. BNP Paribas Financial Markets now owns 8,577 shares of the Wireless communications provider’s stock worth $137,000 after acquiring an additional 3,884 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Spok during the first quarter valued at $170,000. Finally, Redhawk Wealth Advisors Inc. purchased a new position in shares of Spok during the second quarter worth approximately $196,000. Hedge funds and other institutional investors own 50.81% of the company’s stock.

Spok Stock Performance

NASDAQ:SPOK traded up $0.39 during trading hours on Friday, reaching $15.44. The stock had a trading volume of 134,085 shares, compared to its average volume of 105,977. Spok has a 12-month low of $13.20 and a 12-month high of $18.14. The stock has a 50 day simple moving average of $15.20 and a 200 day simple moving average of $15.42. The stock has a market cap of $312.81 million, a P/E ratio of 18.60 and a beta of 0.33.

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

Spok Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 19th were issued a $0.313 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.25 annualized dividend and a yield of 8.11%. Spok’s payout ratio is 150.60%.

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.