Spok (NASDAQ:SPOK) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Spok (NASDAQ:SPOK) from a hold rating to a buy rating in a research note released on Saturday.

Spok Stock Performance

Shares of NASDAQ SPOK traded down $0.10 during trading on Friday, reaching $14.81. The company had a trading volume of 125,419 shares, compared to its average volume of 122,317. Spok has a 52 week low of $12.76 and a 52 week high of $18.14. The stock has a market cap of $300.05 million, a PE ratio of 17.84 and a beta of 0.35. The business’s 50 day moving average price is $15.12 and its 200-day moving average price is $15.76.

Spok (NASDAQ:SPOK) last announced its earnings results on Wednesday, May 1st. The Wireless communications provider reported $0.21 earnings per share for the quarter. Spok had a net margin of 11.19% and a return on equity of 9.56%. The company had revenue of $34.91 million during the quarter.

Spok Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 9th. Stockholders of record on Monday, August 19th will be given a dividend of $0.313 per share. This represents a $1.25 annualized dividend and a dividend yield of 8.45%. The ex-dividend date is Monday, August 19th. Spok’s dividend payout ratio is 150.60%.

Insider Transactions at Spok

In other news, Director Barbara Peterson Byrne sold 5,955 shares of Spok stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $15.18, for a total transaction of $90,396.90. Following the completion of the sale, the director now owns 30,473 shares in the company, valued at approximately $462,580.14. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 11.88% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in 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 purchasing an additional 31,888 shares during the period. Hillsdale Investment Management Inc. acquired a new position in shares of Spok in the first quarter valued at approximately $3,759,000. Bank of New York Mellon Corp boosted its holdings in shares of Spok by 1.0% in 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 period. Truvestments Capital LLC acquired a new position in shares of Spok in the first quarter valued at approximately $1,868,000. Finally, GSA Capital Partners LLP boosted its holdings in shares of Spok by 51.4% in the first quarter. GSA Capital Partners LLP now owns 104,258 shares of the Wireless communications provider’s stock valued at $1,663,000 after buying an additional 35,390 shares during the period. Institutional investors and hedge funds own 50.81% of the company’s stock.

About Spok

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.