Spok (NASDAQ:SPOK) Stock Rating Lowered by StockNews.com

Spok (NASDAQ:SPOK) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors 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 target on the stock.

Spok Trading Up 1.1 %

Spok stock opened at $15.16 on Thursday. The company has a fifty day simple moving average of $15.09 and a 200-day simple moving average of $15.27. The stock has a market cap of $306.93 million, a P/E ratio of 18.27 and a beta of 0.33. Spok has a 12-month low of $13.24 and a 12-month high of $18.14.

Spok (NASDAQ:SPOK) last released 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 return on equity of 9.56% and a net margin of 11.19%. The business had revenue of $33.98 million during the quarter.

Insider Transactions at Spok

In related news, COO Michael W. Wallace sold 25,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $14.80, for a total value of $370,000.00. Following the completion of the sale, the chief operating officer now directly owns 49,465 shares of the company’s stock, valued at approximately $732,082. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Spok news, CEO Vincent D. Kelly sold 45,000 shares of Spok 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 in the company, valued at $2,990,395.35. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Michael W. Wallace sold 25,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $14.80, for a total transaction of $370,000.00. Following the completion of 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. 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 SPOK. Janney Montgomery Scott LLC acquired a new stake in Spok during the 4th quarter worth approximately $681,000. Campbell & CO Investment Adviser LLC lifted its holdings in shares of Spok by 12.9% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 55,951 shares of the Wireless communications provider’s stock worth $866,000 after purchasing an additional 6,392 shares during the period. Tucker Asset Management LLC purchased a new position in Spok in the 4th quarter valued at $126,000. Hennion & Walsh Asset Management Inc. grew its position in Spok by 61.6% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 34,738 shares of the Wireless communications provider’s stock valued at $554,000 after buying an additional 13,245 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new position in Spok in the 1st quarter valued at $170,000. 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.