Spok (NASDAQ:SPOK) Upgraded at B. Riley

B. Riley upgraded shares of Spok (NASDAQ:SPOK) to a strong-buy rating in a research report released on Thursday,Zacks.com reports.

Separately, StockNews.com upgraded Spok from a “buy” rating to a “strong-buy” rating in a report on Tuesday, April 29th.

Spok Price Performance

Shares of SPOK stock opened at $16.25 on Thursday. The company has a 50-day moving average of $15.82 and a two-hundred day moving average of $16.04. The firm has a market cap of $331.81 million, a PE ratio of 22.26 and a beta of 0.51. Spok has a 1-year low of $13.55 and a 1-year high of $17.96.

Spok (NASDAQ:SPOK) last announced its earnings results on Wednesday, April 30th. The Wireless communications provider reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.07. Spok had a return on equity of 9.20% and a net margin of 10.66%. The company had revenue of $36.29 million for the quarter, compared to analyst estimates of $34.00 million. Sell-side analysts anticipate that Spok will post 0.76 EPS for the current fiscal year.

Spok Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Shareholders of record on Friday, May 23rd will be paid a $0.3125 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $1.25 annualized dividend and a dividend yield of 7.69%. Spok’s dividend payout ratio (DPR) is 160.26%.

Institutional Trading of Spok

Hedge funds have recently modified their holdings of the stock. CWM LLC increased its holdings in Spok by 309.2% during the 1st quarter. CWM LLC now owns 1,743 shares of the Wireless communications provider’s stock worth $29,000 after purchasing an additional 1,317 shares during the period. New Age Alpha Advisors LLC acquired a new stake in Spok in the fourth quarter valued at approximately $34,000. SBI Securities Co. Ltd. lifted its stake in Spok by 62.2% in the first quarter. SBI Securities Co. Ltd. now owns 2,200 shares of the Wireless communications provider’s stock worth $36,000 after acquiring an additional 844 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Spok by 12,125.8% during the 1st quarter. Nisa Investment Advisors LLC now owns 3,790 shares of the Wireless communications provider’s stock worth $62,000 after acquiring an additional 3,759 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Spok by 57.8% in the 4th quarter. Legal & General Group Plc now owns 5,546 shares of the Wireless communications provider’s stock valued at $89,000 after purchasing an additional 2,031 shares during the last quarter. 50.81% of the stock is currently owned by institutional investors and hedge funds.

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.