Spok (NASDAQ:SPOK) Rating Increased to Buy at StockNews.com

Spok (NASDAQ:SPOK) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

Separately, B. Riley started coverage on Spok in a report on Thursday, September 26th. They issued a “neutral” rating and a $15.00 price target for the company.

Spok Stock Performance

Shares of NASDAQ SPOK traded down $0.09 during trading on Friday, reaching $14.89. The stock had a trading volume of 89,241 shares, compared to its average volume of 131,283. Spok has a one year low of $13.24 and a one year high of $18.14. The stock has a market cap of $301.46 million, a PE ratio of 17.94 and a beta of 0.33. The firm’s 50 day moving average price is $14.93 and its two-hundred day moving average price is $15.07.

Spok (NASDAQ:SPOK) last issued 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 business had revenue of $33.98 million during the quarter. On average, research analysts expect that Spok will post 0.74 earnings per share for the current year.

Insider Activity at Spok

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 completion of the transaction, the chief operating officer now owns 49,465 shares in the company, valued at $732,082. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 completion of the transaction, the chief operating officer now owns 49,465 shares in the company, valued at $732,082. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Vincent D. Kelly sold 45,000 shares of the business’s stock in a transaction that occurred 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 owns 201,645 shares of the company’s stock, valued at $2,990,395.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 11.88% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. nVerses Capital LLC acquired a new position in Spok during the 3rd quarter worth $27,000. Redhawk Wealth Advisors Inc. raised its stake in shares of Spok by 10.6% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 14,631 shares of the Wireless communications provider’s stock worth $220,000 after buying an additional 1,408 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Spok in the 3rd quarter worth $116,000. Sanctuary Advisors LLC bought a new stake in shares of Spok in the 2nd quarter worth $372,000. Finally, Magnetar Financial LLC bought a new stake in shares of Spok in the 2nd quarter worth $513,000. 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.