B. Riley Has Positive Forecast for Spok FY2024 Earnings

Spok Holdings, Inc. (NASDAQ:SPOK) – B. Riley lifted their FY2024 earnings estimates for shares of Spok in a research note issued on Thursday, October 31st. B. Riley analyst K. Bauser now anticipates that the Wireless communications provider will post earnings of $0.76 per share for the year, up from their prior forecast of $0.74. B. Riley currently has a “Hold” rating on the stock. The consensus estimate for Spok’s current full-year earnings is $0.74 per share. B. Riley also issued estimates for Spok’s Q1 2025 earnings at $0.21 EPS, Q2 2025 earnings at $0.20 EPS, Q3 2025 earnings at $0.20 EPS, Q4 2025 earnings at $0.19 EPS and FY2025 earnings at $0.79 EPS.

Separately, StockNews.com upgraded shares of Spok from a “hold” rating to a “buy” rating in a research report on Friday, October 25th.

Spok Price Performance

SPOK opened at $15.49 on Friday. The company has a fifty day moving average price of $14.96 and a 200-day moving average price of $15.06. The firm has a market capitalization of $313.89 million, a P/E ratio of 21.22 and a beta of 0.33. Spok has a one year low of $13.24 and a one year high of $18.14.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Spok by 3.2% during the first quarter. Vanguard Group Inc. now owns 1,026,201 shares of the Wireless communications provider’s stock valued at $16,368,000 after buying an additional 31,888 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Spok by 2.2% during the second quarter. Renaissance Technologies LLC now owns 1,014,722 shares of the Wireless communications provider’s stock valued at $15,028,000 after buying an additional 21,500 shares during the last quarter. Acadian Asset Management LLC grew its stake in shares of Spok by 58.9% during the second quarter. Acadian Asset Management LLC now owns 321,157 shares of the Wireless communications provider’s stock valued at $4,752,000 after buying an additional 119,102 shares during the last quarter. Hillsdale Investment Management Inc. bought a new position in shares of Spok during the first quarter valued at about $3,759,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Spok by 1.0% during the second quarter. Bank of New York Mellon Corp now owns 232,210 shares of the Wireless communications provider’s stock valued at $3,439,000 after buying an additional 2,303 shares during the last quarter. 50.81% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, COO Michael W. Wallace sold 25,000 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $14.80, for a total value of $370,000.00. Following the completion of the transaction, the chief operating officer now directly owns 49,465 shares in the company, valued at approximately $732,082. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Vincent D. Kelly sold 45,000 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $14.83, for a total value of $667,350.00. Following the completion of the transaction, the chief executive officer now directly owns 201,645 shares in the company, valued at approximately $2,990,395.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michael W. Wallace sold 25,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $14.80, for a total transaction of $370,000.00. Following the sale, the chief operating officer now owns 49,465 shares of the company’s stock, valued at approximately $732,082. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.51% of the stock is owned by company insiders.

Spok Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 18th will be given a $0.313 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.25 annualized dividend and a yield of 8.08%. Spok’s dividend payout ratio (DPR) is presently 171.23%.

Spok Company Profile

Spok Holdings, Inc, through its subsidiary, Spok, Inc, provides healthcare communication solutions in the United States, Europe, Canada, Australia, Asia, and the Middle East. The company's products and services enhance workflows for clinicians and support administrative compliance. It delivers clinical information to care teams when and where it matters to enhance patient outcomes; and provides GenA Pager, a one-way alphanumeric pager.