Spok (NASDAQ:SPOK) Shares Pass Below 200-Day Moving Average – Here’s Why
by Sarita Garza · The Markets DailySpok Holdings, Inc. (NASDAQ:SPOK – Get Free Report)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.08 and traded as low as $10.32. Spok shares last traded at $10.32, with a volume of 190,406 shares trading hands.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the stock. B. Riley Financial cut shares of Spok from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $21.00 to $14.00 in a report on Thursday, February 26th. Weiss Ratings downgraded Spok from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, June 11th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $14.00.
Check Out Our Latest Analysis on SPOK
Spok Trading Down 2.5%
The company has a 50-day moving average price of $10.88 and a two-hundred day moving average price of $12.04. The stock has a market cap of $218.30 million, a P/E ratio of 17.42 and a beta of 0.45.
Spok (NASDAQ:SPOK – Get Free Report) last released its earnings results on Wednesday, April 29th. The Wireless communications provider reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.09). Spok had a return on equity of 8.64% and a net margin of 9.27%.The business had revenue of $33.23 million during the quarter, compared to analysts’ expectations of $35.00 million. As a group, equities analysts forecast that Spok Holdings, Inc. will post 0.66 earnings per share for the current fiscal year.
Spok Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 24th. Investors of record on Tuesday, May 26th will be given a $0.3125 dividend. This represents a $1.25 annualized dividend and a dividend yield of 12.0%. The ex-dividend date of this dividend is Tuesday, May 26th. Spok’s dividend payout ratio (DPR) is presently 208.33%.
Insider Transactions at Spok
In other news, CEO Vincent D. Kelly acquired 5,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were acquired at an average cost of $10.67 per share, with a total value of $53,350.00. Following the completion of the acquisition, the chief executive officer owned 162,565 shares of the company’s stock, valued at approximately $1,734,568.55. This trade represents a 3.17% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 7.28% of the stock is owned by company insiders.
Institutional Investors Weigh In On Spok
Hedge funds have recently modified their holdings of the company. AQR Capital Management LLC acquired a new stake in shares of Spok in the first quarter valued at about $271,000. Goldman Sachs Group Inc. raised its holdings in shares of Spok by 33.4% during the first quarter. Goldman Sachs Group Inc. now owns 521,571 shares of the Wireless communications provider’s stock valued at $8,575,000 after acquiring an additional 130,478 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Spok in the first quarter valued at approximately $467,000. JPMorgan Chase & Co. lifted its position in shares of Spok by 12.6% in the second quarter. JPMorgan Chase & Co. now owns 224,053 shares of the Wireless communications provider’s stock valued at $3,961,000 after acquiring an additional 24,991 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in Spok by 5.4% during the 2nd quarter. Rhumbline Advisers now owns 34,805 shares of the Wireless communications provider’s stock worth $615,000 after purchasing an additional 1,773 shares during the last quarter. 50.81% of the stock is owned by hedge funds and other institutional investors.
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.