Spok Holdings, Inc. Plans Quarterly Dividend of $0.31 (NASDAQ:SPOK)

Spok Holdings, Inc. (NASDAQ:SPOK – Get Rating) declared a quarterly dividend on Wednesday, May 3rd, Zacks reports. Shareholders of record on Thursday, May 25th will be given a dividend of 0.313 per share by the Wireless communications provider on Friday, June 23rd. This represents a $1.25 annualized dividend and a yield of 9.59%. The ex-dividend date is Wednesday, May 24th.

Spok has increased its dividend payment by an average of 35.7% per year over the last three years and has raised its dividend every year for the last 1 years. Spok has a dividend payout ratio of 140.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Spok Price Performance

NASDAQ:SPOK opened at $13.06 on Monday. Spok has a fifty-two week low of $6.13 and a fifty-two week high of $13.45. The stock’s 50-day moving average is $11.64 and its two-hundred day moving average is $9.64. The stock has a market cap of $260.55 million, a PE ratio of 8.11 and a beta of 0.28.

Spok (NASDAQ:SPOK – Get Rating) last announced its quarterly earnings results on Wednesday, February 22nd. The Wireless communications provider reported $0.16 EPS for the quarter. The business had revenue of $33.26 million during the quarter. Spok had a return on equity of 6.89% and a net margin of 24.04%.

Insider Buying and Selling

In related news, Director Todd J. Stein bought 9,567 shares of Spok stock in a transaction that occurred on Friday, March 17th. The stock was purchased at an average cost of $9.63 per share, for a total transaction of $92,130.21. Following the acquisition, the director now owns 844,735 shares in the company, valued at $8,134,798.05. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, COO Michael W. Wallace bought 2,500 shares of Spok stock in a transaction that occurred on Wednesday, March 8th. The stock was purchased at an average cost of $10.25 per share, for a total transaction of $25,625.00. Following the acquisition, the chief operating officer now owns 103,717 shares in the company, valued at $1,063,099.25. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Todd J. Stein purchased 9,567 shares of the business’s stock in a transaction dated Friday, March 17th. The shares were acquired at an average price of $9.63 per share, with a total value of $92,130.21. Following the completion of the acquisition, the director now owns 844,735 shares of the company’s stock, valued at $8,134,798.05. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 32,856 shares of company stock worth $327,432. 8.59% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SPOK. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Spok by 364.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 417,824 shares of the Wireless communications provider’s stock worth $3,422,000 after buying an additional 327,780 shares during the last quarter. Two Sigma Investments LP acquired a new position in shares of Spok during the third quarter worth approximately $1,481,000. Two Sigma Advisers LP lifted its holdings in shares of Spok by 451.2% during the third quarter. Two Sigma Advisers LP now owns 207,800 shares of the Wireless communications provider’s stock worth $1,588,000 after buying an additional 170,100 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Spok by 14.1% during the fourth quarter. Renaissance Technologies LLC now owns 1,291,922 shares of the Wireless communications provider’s stock worth $10,581,000 after buying an additional 159,892 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Spok during the first quarter worth approximately $996,000. 45.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SPOK. StockNews.com cut Spok from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 13th. TheStreet raised Spok from a “c+” rating to a “b-” rating in a research note on Monday, April 10th.

About Spok

(Get Rating)

Spok Holdings, Inc engages in the provision of communication solutions. It provides call center operations, clinical alerting and notifications, one-way and advanced two-way wireless messaging services, mobile communications and public safety solutions. The company was founded in 1965 and is headquartered in Alexandria, VA.