Spok (NASDAQ:SPOK – Get Free Report) issued its quarterly earnings data on Wednesday. The Wireless communications provider reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.05, FiscalAI reports. Spok had a net margin of 9.27% and a return on equity of 8.64%. The business had revenue of $35.01 million during the quarter, compared to analyst estimates of $34.30 million.
Spok Trading Up 0.6%
NASDAQ SPOK traded up $0.07 on Wednesday, hitting $10.96. 135,427 shares of the company were exchanged, compared to its average volume of 174,633. The company has a market cap of $228.95 million, a PE ratio of 18.27 and a beta of 0.47. The stock has a fifty day moving average of $10.63 and a 200-day moving average of $11.61. Spok has a 12 month low of $9.95 and a 12 month high of $19.31.
Wall Street Analyst Weigh In
SPOK has been the subject of a number of analyst reports. Weiss Ratings downgraded Spok from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, July 13th. Wall Street Zen raised Spok from a “sell” rating to a “hold” rating in a research note on Sunday, July 5th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Spok has a consensus rating of “Reduce” and a consensus target price of $14.00.
Insiders Place Their Bets
In related news, CEO Vincent D. Kelly acquired 5,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were purchased at an average price of $10.67 per share, for a total transaction 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 Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 7.28% of the company’s stock.
Institutional Trading of Spok
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPOK. Goldman Sachs Group Inc. raised its stake in Spok by 33.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 521,571 shares of the Wireless communications provider’s stock worth $8,575,000 after buying an additional 130,478 shares during the period. Millennium Management LLC increased its holdings in shares of Spok by 344.7% during the fourth quarter. Millennium Management LLC now owns 125,808 shares of the Wireless communications provider’s stock valued at $1,659,000 after acquiring an additional 97,515 shares in the last quarter. Trexquant Investment LP increased its holdings in shares of Spok by 92.0% during the fourth quarter. Trexquant Investment LP now owns 170,653 shares of the Wireless communications provider’s stock valued at $2,251,000 after acquiring an additional 81,784 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Spok by 6.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,246,579 shares of the Wireless communications provider’s stock worth $16,442,000 after purchasing an additional 74,029 shares during the period. Finally, Lazard Asset Management LLC raised its position in shares of Spok by 8,427.8% during the second quarter. Lazard Asset Management LLC now owns 66,261 shares of the Wireless communications provider’s stock worth $1,171,000 after purchasing an additional 65,484 shares during the period. 50.81% of the stock is owned by institutional investors.
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.
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