Braeside Investments LLC recently announced the acquisition of new stake in Spok Holdings Inc. (NASDAQ:SPOK). The institutional investor has increased its shareholding in the Communication Services company by 0.12% to 1.78 million shares with purchase of 2137.0 shares. This fresh investment now brings its stake to 9.01% valued currently at $14.54 million. In addition, Morgan Stanley & Co. LLC raised its holdings by 220.0 to 0.84 million shares. And Foundry Partners LLC has lifted its position by 21.67% or 92824.0 shares – to 0.52 million shares.
With over 0.16 million Spok Holdings Inc. (SPOK) shares trading Friday and a closing price of $8.35 on the day, the dollar volume was approximately $1.34 million. The shares have shown a positive half year performance of 27.48% and its price on 01/20/23 gained nearly 0.36%. Currently, there are 19.69M common shares owned by the public and among those 18.96M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for SPOK have a consensus price objective of $15.00. The analysts have set the share’s price value over the next 12 months at a high of $15.00 and a low of $15.00. The average price target is 44.33% above its recent price level and an upside to the estimated low will see the stock gain 44.33% over that period. But an upside of 44.33% will see the stock hit the forecast high price target while median target price for the stock is $15.00.
Insiders at the company have transacted a total of 82 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 76 of these insider trades were purchases, accounting for 266,140 shares. Insider sales of the common stock occurred on 6 occasions, with total insider shares sold totaling 29,004 shares.
The top 3 mutual fund holders in Spok Holdings Inc. are Man Funds VI Plc – GLG Event Driv, Vanguard Total Stock Market Index, and Vanguard Extended Market Index Fu. Man Funds VI Plc – GLG Event Driv owns 0.71 million shares of the company’s stock, all valued at over $5.8 million. The company bought an additional 0.71 million shares recently to bring their total holdings to about 3.59% of the shares outstanding. Vanguard Total Stock Market Index bought 1762.0 shares to see its total holdings expand to 0.52 million shares valued at over $4.24 million and representing 2.63% of the shares outstanding. Vanguard Extended Market Index Fu bought 26898.0 shares to bring its total holdings to over 0.28 million shares at a value of $2.3 million. Vanguard Extended Market Index Fu now owns shares totaling to 1.42% of the shares outstanding.
However, the script later moved the day high at 8.37, up 0.36%. The company’s stock has a 5-day price change of 0.00% and 7.60% over the past three months. SPOK shares are trading 1.95% year to date (YTD), with the 12-month market performance down to -14.01% lower. It has a 12-month low price of $6.12 and touched a high of $10.14 over the same period. SPOK has an average intraday trading volume of 194.58K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.56%, 1.65%, and 11.41% respectively.
Institutional ownership of Spok Holdings Inc. (NASDAQ: SPOK) shares accounts for 59.50% of the company’s 19.69M shares outstanding. Mutual fund holders own 17.95%, while other institutional holders and individual stakeholders account for 36.62% and 16.33% respectively.
It has a market capitalization of $163.91M and a beta (3y monthly) value of 0.30. The earnings-per-share (ttm) stands at -$0.98. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.41% over the week and 2.37% over the month.
The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Earnings per share for the fiscal year are expected to increase by 50.80%, and 64.70% over the next financial year.
Looking at the support for the SPOK, a number of firms have released research notes about the stock. Lake Street stated their Buy rating for the stock in a research note on December 19, 2022, with the firm’s price target at $15. Lake Street coverage for the Spok Holdings Inc. (SPOK) stock in a research note released on September 23, 2022 offered a Buy rating with a price target of $14.