Spok (NASDAQ:SPOK) Downgraded to Hold at StockNews.com

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

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

Spok Price Performance

NASDAQ SPOK opened at $15.16 on Thursday. The business has a fifty day moving average price of $15.09 and a two-hundred day moving average price of $15.24. The stock has a market capitalization of $306.93 million, a PE 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 released its quarterly earnings results on Wednesday, July 24th. The Wireless communications provider reported $0.17 earnings per share for the quarter. Spok had a return on equity of 9.56% and a net margin of 11.19%. The company had revenue of $33.98 million for the quarter.

Spok Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 19th were issued a $0.313 dividend. This represents a $1.25 dividend on an annualized basis and a yield of 8.26%. The ex-dividend date of this dividend was Monday, August 19th. Spok’s payout ratio is 150.60%.

Insider Activity

In other Spok news, CEO Vincent D. Kelly sold 45,000 shares of the firm’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other 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 value of $370,000.00. Following the transaction, the chief operating officer now owns 49,465 shares in the company, valued at approximately $732,082. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Vincent D. Kelly sold 45,000 shares of the company’s 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 completion of the transaction, the chief executive officer now 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. Company insiders own 11.88% of the company’s stock.

Hedge Funds Weigh In On Spok

Several institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its stake in Spok by 9.0% in the 2nd quarter. Principal Financial Group Inc. now owns 11,640 shares of the Wireless communications provider’s stock valued at $172,000 after buying an additional 959 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Spok by 1.0% during the 2nd 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 in the last quarter. Bailard Inc. raised its stake in shares of Spok by 17.6% during the second quarter. Bailard Inc. now owns 17,317 shares of the Wireless communications provider’s stock worth $256,000 after acquiring an additional 2,592 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Spok by 13.6% in the 2nd quarter. Rhumbline Advisers now owns 28,208 shares of the Wireless communications provider’s stock worth $418,000 after acquiring an additional 3,381 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in shares of Spok by 11.2% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 38,621 shares of the Wireless communications provider’s stock valued at $572,000 after purchasing an additional 3,883 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.