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

Spok (NASDAQ:SPOK) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

Separately, B. Riley upgraded shares of Spok to a “strong-buy” rating in a report on Thursday, May 1st.

Spok Price Performance

Shares of NASDAQ:SPOK opened at $16.44 on Friday. The company’s 50 day simple moving average is $15.80 and its 200 day simple moving average is $16.10. The stock has a market capitalization of $338.20 million, a price-to-earnings ratio of 22.52 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 posted its earnings results on Wednesday, April 30th. The Wireless communications provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.07. The firm had revenue of $36.29 million for the quarter, compared to analysts’ expectations of $34.00 million. Spok had a net margin of 10.66% and a return on equity of 9.20%. As a group, analysts anticipate that Spok will post 0.76 EPS for the current fiscal year.

Insider Activity at Spok

In related news, COO Michael W. Wallace sold 6,000 shares of the business’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $16.53, for a total value of $99,180.00. Following the transaction, the chief operating officer now owns 61,175 shares in the company, valued at $1,011,222.75. The trade was a 8.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Vincent D. Kelly sold 30,000 shares of the business’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $16.40, for a total transaction of $492,000.00. Following the completion of the transaction, the chief executive officer now owns 157,817 shares in the company, valued at approximately $2,588,198.80. The trade was a 15.97% decrease in their position. The disclosure for this sale can be found here. 10.51% of the stock is owned by company insiders.

Hedge Funds Weigh In On Spok

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of Spok by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 514,427 shares of the Wireless communications provider’s stock valued at $8,258,000 after purchasing an additional 6,591 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Spok by 7.6% during the fourth quarter. JPMorgan Chase & Co. now owns 213,575 shares of the Wireless communications provider’s stock valued at $3,428,000 after purchasing an additional 15,156 shares during the period. Northern Trust Corp raised its holdings in shares of Spok by 4.1% during the fourth quarter. Northern Trust Corp now owns 207,068 shares of the Wireless communications provider’s stock valued at $3,323,000 after purchasing an additional 8,175 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Spok by 67.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 110,997 shares of the Wireless communications provider’s stock valued at $1,782,000 after purchasing an additional 44,896 shares during the period. Finally, Trexquant Investment LP raised its holdings in shares of Spok by 49.8% during the fourth quarter. Trexquant Investment LP now owns 106,467 shares of the Wireless communications provider’s stock valued at $1,709,000 after purchasing an additional 35,401 shares during the period. Institutional investors and hedge funds 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.