Short Interest in Spok Holdings, Inc. (NASDAQ:SPOK) Declines By 30.8%

Spok Holdings, Inc. (NASDAQ:SPOK) was the target of a large decline in short interest in the month of November. As of November 30th, there was short interest totalling 253,100 shares, a decline of 30.8% from the November 15th total of 366,000 shares. Based on an average daily volume of 106,900 shares, the days-to-cover ratio is currently 2.4 days.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SPOK. B. Riley started coverage on Spok in a report on Thursday, September 26th. They set a “neutral” rating and a $15.00 target price for the company. StockNews.com raised Spok from a “hold” rating to a “buy” rating in a research report on Friday, October 25th.

Institutional Investors Weigh In On Spok

Large investors have recently added to or reduced their stakes in the stock. Gladius Capital Management LP bought a new position in shares of Spok in the second quarter worth $112,000. Hennion & Walsh Asset Management Inc. boosted its stake in Spok by 11.2% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 38,621 shares of the Wireless communications provider’s stock valued at $572,000 after buying an additional 3,883 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in 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 in the last quarter. Bailard Inc. boosted its stake in Spok by 17.6% during the second quarter. Bailard Inc. now owns 17,317 shares of the Wireless communications provider’s stock valued at $256,000 after buying an additional 2,592 shares in the last quarter. Finally, Panagora Asset Management Inc. bought a new position in Spok during the second quarter valued at about $523,000. 50.81% of the stock is owned by institutional investors and hedge funds.

Spok Price Performance

Shares of SPOK stock traded down $0.07 on Friday, hitting $16.70. 53,267 shares of the stock traded hands, compared to its average volume of 128,521. The company has a market capitalization of $338.51 million, a PE ratio of 22.88 and a beta of 0.33. Spok has a 1-year low of $13.24 and a 1-year high of $18.14. The company’s fifty day moving average is $15.87 and its 200 day moving average is $15.32.

Spok Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, November 18th were given a dividend of $0.313 per share. This represents a $1.25 annualized dividend and a dividend yield of 7.50%. The ex-dividend date of this dividend was Monday, November 18th. Spok’s dividend payout ratio is currently 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.