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

Spok (NASDAQ:SPOKGet Free Report) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Spok Stock Performance

NASDAQ:SPOK opened at $15.07 on Wednesday. The stock’s 50-day simple moving average is $15.55 and its 200 day simple moving average is $15.95. The company has a market cap of $305.11 million, a P/E ratio of 18.16 and a beta of 0.27. Spok has a 52-week low of $10.46 and a 52-week high of $18.14.

Spok (NASDAQ:SPOKGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The Wireless communications provider reported $0.21 earnings per share for the quarter. The firm had revenue of $34.91 million for the quarter. Spok had a return on equity of 10.23% and a net margin of 11.93%.

Insiders Place Their Bets

In other news, Director Todd J. Stein sold 25,927 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $17.92, for a total transaction of $464,611.84. Following the completion of the sale, the director now owns 696,637 shares in the company, valued at $12,483,735.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Barbara Peterson Byrne sold 5,955 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $15.18, for a total transaction of $90,396.90. Following the completion of the sale, the director now owns 30,473 shares in the company, valued at $462,580.14. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Todd J. Stein sold 25,927 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $17.92, for a total value of $464,611.84. Following the completion of the sale, the director now owns 696,637 shares of the company’s stock, valued at $12,483,735.04. The disclosure for this sale can be found here. Company insiders own 11.88% of the company’s stock.

Institutional Investors Weigh In On Spok

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Spok by 3.2% in the first quarter. Vanguard Group Inc. now owns 1,026,201 shares of the Wireless communications provider’s stock valued at $16,368,000 after buying an additional 31,888 shares during the period. Foundry Partners LLC boosted its stake in shares of Spok by 0.3% in the third quarter. Foundry Partners LLC now owns 455,165 shares of the Wireless communications provider’s stock valued at $6,495,000 after buying an additional 1,245 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Spok in the third quarter valued at approximately $3,850,000. Hillsdale Investment Management Inc. bought a new stake in shares of Spok in the first quarter valued at approximately $3,759,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Spok by 14.6% in the third quarter. Bank of New York Mellon Corp now owns 182,745 shares of the Wireless communications provider’s stock valued at $2,608,000 after buying an additional 23,299 shares during the period. 50.81% of the stock is currently owned by institutional investors.

About Spok

(Get Free Report)

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.

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