Spok Holdings, Inc. (NASDAQ:SPOK) Releases Earnings Results
Spok Holdings, Inc. (NASDAQ:SPOK) issued its quarterly earnings results on Wednesday. The Wireless communications provider reported $0.07 EPS for the quarter, Bloomberg Earnings reports. The company had revenue of $42.33 million for the quarter. Spok Holdings had a return on equity of 3.49% and a net margin of 6.49%.
Shares of Spok Holdings (NASDAQ SPOK) traded down 5.83% on Thursday, hitting $16.15. The stock had a trading volume of 99,989 shares. Spok Holdings has a 52 week low of $15.85 and a 52 week high of $22.60. The company has a market cap of $331.64 million, a price-to-earnings ratio of 29.42 and a beta of 0.66. The firm has a 50 day moving average price of $17.50 and a 200-day moving average price of $18.38.
In other Spok Holdings news, CEO Vincent D. Kelly sold 10,000 shares of Spok Holdings stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $17.61, for a total value of $176,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.63% of the company’s stock.
An institutional investor recently raised its position in Spok Holdings stock. Municipal Employees Retirement System of Michigan raised its stake in shares of Spok Holdings, Inc. (NASDAQ:SPOK) by 1.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,510 shares of the Wireless communications provider’s stock after buying an additional 330 shares during the period. Municipal Employees Retirement System of Michigan owned about 0.12% of Spok Holdings worth $434,000 as of its most recent filing with the SEC. 88.15% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently commented on SPOK shares. TheStreet lowered Spok Holdings from a “b-” rating to a “c” rating in a report on Thursday, April 27th. ValuEngine lowered Spok Holdings from a “hold” rating to a “sell” rating in a report on Thursday, June 15th. Finally, BidaskClub raised Spok Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th.
Spok Holdings declared that its Board of Directors has approved a share repurchase plan on Wednesday, April 26th that allows the company to buyback $10.00 million in outstanding shares. This buyback authorization allows the Wireless communications provider to purchase up to 2.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
Spok Holdings Company Profile
USA Mobility, Inc (USA Mobility) is a holding company, which operates through its indirect wholly owned subsidiary, USA Mobility Wireless, Inc The Company is a provider of wireless messaging, mobile voice and data and unified communications solutions in the United States. In addition, through its indirect wholly owned subsidiary, Amcom Software, Inc (Amcom), it provides mission critical unified communications solutions for contact centers, emergency management, mobile event notification and Smartphone messaging.
Receive News & Ratings for Spok Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spok Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.