Spok (NASDAQ:SPOK) Coverage Initiated at B. Riley

Equities researchers at B. Riley initiated coverage on shares of Spok (NASDAQ:SPOK) in a research note issued to investors on Thursday, Marketbeat reports. The brokerage set a “neutral” rating and a $15.00 price target on the Wireless communications provider’s stock. B. Riley’s price target indicates a potential downside of 1.06% from the company’s current price.

Separately, StockNews.com raised shares of Spok from a “hold” rating to a “buy” rating in a report on Saturday, August 3rd.

Spok Stock Up 1.1 %

Shares of NASDAQ SPOK opened at $15.16 on Thursday. The firm’s 50-day moving average price is $15.09 and its two-hundred day moving average price is $15.27. Spok has a 52-week low of $13.24 and a 52-week high of $18.14. The stock has a market capitalization of $306.93 million, a P/E ratio of 18.27 and a beta of 0.33.

Spok (NASDAQ:SPOK) last announced its quarterly earnings results on Wednesday, July 24th. The Wireless communications provider reported $0.17 earnings per share (EPS) for the quarter. Spok had a return on equity of 9.56% and a net margin of 11.19%. The business had revenue of $33.98 million for the quarter.

Insider Buying and Selling at Spok

In other news, CEO Vincent D. Kelly sold 45,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $14.83, for a total value of $667,350.00. Following the completion of the transaction, the chief executive officer now owns 201,645 shares of the company’s stock, valued at $2,990,395.35. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, COO Michael W. Wallace sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $14.80, for a total transaction of $370,000.00. Following the sale, the chief operating officer now owns 49,465 shares of the company’s stock, valued at $732,082. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Vincent D. Kelly sold 45,000 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $14.83, for a total value of $667,350.00. Following the transaction, the chief executive officer now directly owns 201,645 shares of the company’s stock, valued at $2,990,395.35. The disclosure for this sale can be found here. 11.88% of the stock is owned by company insiders.

Institutional Trading of Spok

Hedge funds and other institutional investors have recently modified their holdings of the company. Gladius Capital Management LP acquired a new position in Spok during the second quarter worth about $112,000. Tucker Asset Management LLC bought a new position in shares of Spok during the 4th quarter valued at about $126,000. BNP Paribas Financial Markets grew its stake in shares of Spok by 82.8% in the 1st quarter. BNP Paribas Financial Markets now owns 8,577 shares of the Wireless communications provider’s stock worth $137,000 after purchasing an additional 3,884 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of Spok in the 1st quarter worth approximately $170,000. Finally, Redhawk Wealth Advisors Inc. bought a new stake in shares of Spok in the 2nd quarter worth approximately $196,000. Institutional investors own 50.81% of the company’s stock.

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.