Spok (NASDAQ:SPOK) Downgraded by StockNews.com

StockNews.com lowered shares of Spok (NASDAQ:SPOK) from a buy rating to a hold rating in a research report report published on Thursday.

Separately, B. Riley initiated coverage on shares of Spok in a research note on Thursday. They issued a neutral rating and a $15.00 price objective for the company.

Spok Stock Performance

Shares of NASDAQ SPOK opened at $15.16 on Thursday. The firm’s 50-day simple moving average is $15.09 and its 200 day simple moving average is $15.26. The stock has a market cap of $306.93 million, a price-to-earnings ratio of 18.27 and a beta of 0.33. Spok has a fifty-two week low of $13.24 and a fifty-two week high of $18.14.

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 during the quarter.

Spok Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Monday, August 19th were given a dividend of $0.313 per share. This represents a $1.25 annualized dividend and a dividend yield of 8.26%. The ex-dividend date was Monday, August 19th. Spok’s dividend payout ratio is presently 150.60%.

Insider Buying and Selling

In related news, CEO Vincent D. Kelly sold 45,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $14.83, for a total transaction of $667,350.00. Following the completion of the sale, the chief executive officer now owns 201,645 shares in the company, valued at $2,990,395.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Michael W. Wallace sold 25,000 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now owns 49,465 shares of the company’s stock, valued at approximately $732,082. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Vincent D. Kelly sold 45,000 shares of Spok stock in a transaction dated 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 sale, the chief executive officer now directly owns 201,645 shares of the company’s stock, valued at approximately $2,990,395.35. The disclosure for this sale can be found here. 11.88% of the stock is owned by insiders.

Hedge Funds Weigh In On Spok

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC purchased a new stake in shares of Spok during the 2nd quarter valued at approximately $372,000. Magnetar Financial LLC purchased a new stake in shares of Spok during the second quarter worth $513,000. Sei Investments Co. purchased a new stake in shares of Spok during the second quarter worth $579,000. Renaissance Technologies LLC boosted its holdings in shares of Spok by 2.2% in the second quarter. Renaissance Technologies LLC now owns 1,014,722 shares of the Wireless communications provider’s stock worth $15,028,000 after acquiring an additional 21,500 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Spok by 28.7% in the second quarter. American Century Companies Inc. now owns 20,321 shares of the Wireless communications provider’s stock valued at $301,000 after purchasing an additional 4,530 shares in the last quarter. 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.