Magnetar Financial LLC Makes New $647,000 Investment in Spok Holdings, Inc. (NASDAQ:SPOK)

Magnetar Financial LLC purchased a new position in shares of Spok Holdings, Inc. (NASDAQ:SPOK) in the 4th quarter, Holdings Channel reports. The firm purchased 40,329 shares of the Wireless communications provider’s stock, valued at approximately $647,000.

Several other institutional investors have also modified their holdings of the stock. BNP Paribas Financial Markets lifted 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 last quarter. Sanctuary Advisors LLC lifted its position in shares of Spok by 4.9% during the 4th quarter. Sanctuary Advisors LLC now owns 27,269 shares of the Wireless communications provider’s stock worth $439,000 after buying an additional 1,271 shares during the last quarter. Larson Financial Group LLC purchased a new stake in shares of Spok during the 3rd quarter worth approximately $26,000. Martingale Asset Management L P lifted its position 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 worth $289,000 after buying an additional 2,302 shares during the last quarter. Finally, FMR LLC raised its position in Spok by 39.9% in the 3rd quarter. FMR LLC now owns 14,479 shares of the Wireless communications provider’s stock valued at $218,000 after purchasing an additional 4,130 shares during the last quarter. Hedge funds and other institutional investors own 50.81% of the company’s stock.

Spok Stock Performance

Shares of Spok stock opened at $15.89 on Friday. The company has a market cap of $324.46 million, a P/E ratio of 21.77 and a beta of 0.29. Spok Holdings, Inc. has a one year low of $13.24 and a one year high of $17.96. The firm has a fifty day moving average of $16.33 and a two-hundred day moving average of $15.90.

Spok (NASDAQ:SPOK) last announced its quarterly earnings data on Wednesday, February 26th. The Wireless communications provider reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The firm had revenue of $33.89 million for the quarter, compared to analysts’ expectations of $35.50 million. Spok had a return on equity of 9.20% and a net margin of 10.66%. As a group, equities analysts predict that Spok Holdings, Inc. will post 0.76 earnings per share for the current year.

Spok Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.3125 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 7.87%. Spok’s dividend payout ratio (DPR) is presently 168.92%.

Analysts Set New Price Targets

Several analysts recently commented on SPOK shares. B. Riley upgraded shares of Spok from a “neutral” rating to a “buy” rating and upped their price target for the company from $15.00 to $20.00 in a research report on Thursday, February 27th. StockNews.com upgraded shares of Spok from a “buy” rating to a “strong-buy” rating in a research report on Friday.

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.