Spok (NASDAQ:SPOK) Releases Earnings Results, Beats Expectations By $0.05 EPS

Spok (NASDAQ:SPOK) posted its earnings results on Wednesday. The Wireless communications provider reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.05, FiscalAI reports. The company had revenue of $35.01 million during the quarter, compared to the consensus estimate of $34.30 million. Spok had a return on equity of 8.64% and a net margin of 9.27%.

Spok Price Performance

Spok stock traded up $0.07 during mid-day trading on Wednesday, reaching $10.96. 135,427 shares of the company were exchanged, compared to its average volume of 174,633. The firm has a market cap of $228.95 million, a PE ratio of 18.27 and a beta of 0.47. The company has a fifty day simple moving average of $10.63 and a 200-day simple moving average of $11.61. Spok has a 12 month low of $9.95 and a 12 month high of $19.31.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SPOK. Weiss Ratings lowered shares of Spok from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, July 13th. Wall Street Zen raised shares of Spok from a “sell” rating to a “hold” rating in a report on Sunday, July 5th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $14.00.

Insider Activity

In related news, CEO Vincent D. Kelly bought 5,000 shares of Spok stock in a transaction dated Monday, May 11th. The shares were bought at an average cost of $10.67 per share, with a total value of $53,350.00. Following the acquisition, the chief executive officer owned 162,565 shares in the company, valued at $1,734,568.55. This trade represents a 3.17% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 7.28% of the company’s stock.

Institutional Investors Weigh In On Spok

Institutional investors and hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. grew its stake in shares of Spok by 40.0% during the second quarter. Russell Investments Group Ltd. now owns 2,613 shares of the Wireless communications provider’s stock worth $46,000 after buying an additional 747 shares during the last quarter. Occudo Quantitative Strategies LP grew its position in Spok by 5.9% during the 4th quarter. Occudo Quantitative Strategies LP now owns 13,532 shares of the Wireless communications provider’s stock worth $178,000 after acquiring an additional 754 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in Spok by 69.8% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,465 shares of the Wireless communications provider’s stock worth $33,000 after acquiring an additional 1,013 shares during the last quarter. Man Group plc increased its holdings in Spok by 4.2% in the 4th quarter. Man Group plc now owns 26,439 shares of the Wireless communications provider’s stock worth $349,000 after purchasing an additional 1,065 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in Spok by 305.4% in the 3rd quarter. Parallel Advisors LLC now owns 1,796 shares of the Wireless communications provider’s stock worth $31,000 after purchasing an additional 1,353 shares in the last quarter. Institutional investors own 50.81% of the company’s stock.

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.