Spok (NASDAQ:SPOK) Upgraded to “Hold” by B. Riley

B. Riley upgraded shares of Spok (NASDAQ:SPOK) to a hold rating in a research report released on Wednesday morning, Zacks.com reports.

Separately, StockNews.com cut Spok from a buy rating to a hold rating in a research note on Thursday.

Spok Trading Up 1.1 %

Shares of NASDAQ SPOK opened at $15.16 on Wednesday. Spok has a 1 year low of $13.24 and a 1 year high of $18.14. The firm’s 50-day moving average is $15.09 and its 200-day moving average is $15.26. The firm has a market capitalization of $306.93 million, a PE ratio of 18.27 and a beta of 0.33.

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

Spok Dividend Announcement

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SPOK. Vanguard Group Inc. raised its holdings in shares of Spok by 3.2% during the first quarter. Vanguard Group Inc. now owns 1,026,201 shares of the Wireless communications provider’s stock worth $16,368,000 after acquiring an additional 31,888 shares during the period. Renaissance Technologies LLC raised its stake in shares of Spok by 2.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,014,722 shares of the Wireless communications provider’s stock valued at $15,028,000 after purchasing an additional 21,500 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Spok by 58.9% in the second quarter. Acadian Asset Management LLC now owns 321,157 shares of the Wireless communications provider’s stock valued at $4,752,000 after purchasing an additional 119,102 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in shares of Spok during the first quarter worth about $3,759,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Spok by 1.0% during the second quarter. Bank of New York Mellon Corp now owns 232,210 shares of the Wireless communications provider’s stock worth $3,439,000 after buying an additional 2,303 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.