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

Spok Holdings, Inc. (NASDAQ:SPOK) was the target of a large growth in short interest during the month of February. As of February 27th, there was short interest totaling 577,687 shares, a growth of 26.3% from the February 12th total of 457,339 shares. Approximately 3.0% of the shares of the stock are sold short. Based on an average trading volume of 266,382 shares, the days-to-cover ratio is presently 2.2 days. Based on an average trading volume of 266,382 shares, the days-to-cover ratio is presently 2.2 days. Approximately 3.0% of the shares of the stock are sold short.

Hedge Funds Weigh In On Spok

Several institutional investors and hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC raised its position in Spok by 305.4% in the 3rd quarter. Parallel Advisors LLC now owns 1,796 shares of the Wireless communications provider’s stock worth $31,000 after purchasing an additional 1,353 shares during the period. Ameritas Investment Partners Inc. grew its stake in shares of Spok by 41.7% during the second quarter. Ameritas Investment Partners Inc. now owns 2,080 shares of the Wireless communications provider’s stock valued at $37,000 after buying an additional 612 shares during the last quarter. McIlrath & Eck LLC increased its holdings in shares of Spok by 49.3% in the third quarter. McIlrath & Eck LLC now owns 2,166 shares of the Wireless communications provider’s stock worth $37,000 after buying an additional 715 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in shares of Spok by 69.8% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,465 shares of the Wireless communications provider’s stock valued at $33,000 after acquiring an additional 1,013 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Spok by 40.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,613 shares of the Wireless communications provider’s stock valued at $46,000 after acquiring an additional 747 shares during the last quarter. Institutional investors own 50.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SPOK shares. B. Riley Financial downgraded Spok from a “buy” rating to a “neutral” rating and dropped their price target for the company 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 note on Monday, December 29th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $14.00.

Spok Price Performance

SPOK stock traded down $0.30 during mid-day trading on Monday, hitting $11.49. 46,977 shares of the stock were exchanged, compared to its average volume of 184,629. The business has a fifty day moving average price of $13.11 and a 200 day moving average price of $14.34. Spok has a 12 month low of $11.28 and a 12 month high of $19.31. The stock has a market capitalization of $238.08 million, a price-to-earnings ratio of 15.11 and a beta of 0.45.

Spok (NASDAQ:SPOK) last announced its quarterly earnings data on Wednesday, February 25th. The Wireless communications provider reported $0.14 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.04). The firm had revenue of $33.86 million for the quarter, compared to the consensus estimate of $34.60 million. Spok had a net margin of 11.37% and a return on equity of 10.63%. As a group, equities analysts forecast that Spok will post 0.76 EPS for the current fiscal year.

Spok Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be paid a dividend of $0.3125 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $1.25 annualized dividend and a dividend yield of 10.9%. Spok’s dividend payout ratio (DPR) is 164.47%.

Spok Company Profile

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.