Spok (NASDAQ:SPOK) Announces Quarterly Earnings Results

Spok (NASDAQ:SPOK) issued its earnings results on Wednesday. The Wireless communications provider reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.09), FiscalAI reports. Spok had a return on equity of 10.63% and a net margin of 11.37%.The firm had revenue of $33.23 million during the quarter, compared to analyst estimates of $35.00 million.

Spok Stock Performance

Shares of SPOK traded down $0.42 during trading hours on Wednesday, hitting $11.05. 262,733 shares of the company were exchanged, compared to its average volume of 175,893. The company has a market cap of $229.07 million, a PE ratio of 14.54 and a beta of 0.49. The firm’s 50 day moving average is $11.75 and its 200-day moving average is $13.00. Spok has a 52 week low of $10.81 and a 52 week high of $19.31.

Spok Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were paid a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a dividend yield of 11.3%. The ex-dividend date was Monday, March 16th. Spok’s dividend payout ratio is 164.47%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SPOK. B. Riley Financial lowered Spok from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $21.00 to $14.00 in a research report on Thursday, February 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Spok in a research report on Friday, April 10th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $14.00.

Institutional Trading of Spok

Several large investors have recently made changes to their positions in the stock. Occudo Quantitative Strategies LP boosted its stake in shares of Spok by 5.9% during the 4th quarter. Occudo Quantitative Strategies LP now owns 13,532 shares of the Wireless communications provider’s stock worth $178,000 after acquiring an additional 754 shares in the last quarter. Oxford Asset Management LLP bought a new stake in shares of Spok during the 4th quarter worth about $137,000. Millennium Management LLC boosted its stake in shares of Spok by 344.7% during the 4th quarter. Millennium Management LLC now owns 125,808 shares of the Wireless communications provider’s stock worth $1,659,000 after acquiring an additional 97,515 shares in the last quarter. Man Group plc boosted its stake in shares of Spok by 4.2% during the 4th quarter. Man Group plc now owns 26,439 shares of the Wireless communications provider’s stock worth $349,000 after acquiring an additional 1,065 shares in the last quarter. Finally, Engineers Gate Manager LP boosted its stake in shares of Spok by 9.3% during the 4th quarter. Engineers Gate Manager LP now owns 36,356 shares of the Wireless communications provider’s stock worth $480,000 after acquiring an additional 3,104 shares in the last quarter. Institutional investors own 50.81% of the company’s stock.

About Spok

Spok, Inc is a publicly traded healthcare communications and collaboration company headquartered in Bellevue, Washington. The company specializes in providing secure, real-time clinical communication solutions designed to streamline workflows and enhance patient care. Serving hospitals, health systems, and other healthcare organizations across North America and selected international markets, Spok has positioned itself as a leading provider of secure messaging and nurse call integration.

Spok’s flagship offering, the Spok Care Connect platform, delivers a suite of integrated products, including secure text and voice messaging, alarm and event management, call center solutions, and digital signage.