Spok (NASDAQ:SPOK) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Spok (NASDAQ:SPOK) from a hold rating to a buy rating in a research report released on Saturday.

Spok Stock Performance

SPOK stock traded down $0.10 during trading on Friday, hitting $14.81. 125,419 shares of the company’s stock traded hands, compared to its average volume of 122,317. Spok has a 52 week low of $12.76 and a 52 week high of $18.14. The stock has a market capitalization of $300.05 million, a price-to-earnings ratio of 17.84 and a beta of 0.35. The business has a fifty day simple moving average of $15.12 and a 200 day simple moving average of $15.76.

Spok (NASDAQ:SPOK) last announced its earnings results on Wednesday, May 1st. The Wireless communications provider reported $0.21 earnings per share for the quarter. Spok had a net margin of 11.19% and a return on equity of 9.56%. The business had revenue of $34.91 million for the quarter.

Spok Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 9th. Stockholders of record on Monday, August 19th will be paid a $0.313 dividend. This represents a $1.25 annualized dividend and a dividend yield of 8.45%. The ex-dividend date of this dividend is Monday, August 19th. Spok’s dividend payout ratio is currently 150.60%.

Insider Buying and Selling

In related news, Director Barbara Peterson Byrne sold 5,955 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $15.18, for a total value of $90,396.90. Following the transaction, the director now owns 30,473 shares of the company’s stock, valued at approximately $462,580.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 11.88% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC increased its position in Spok by 439.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,913 shares of the Wireless communications provider’s stock valued at $76,000 after purchasing an additional 4,003 shares during the period. Gladius Capital Management LP purchased a new position in Spok during the 2nd quarter valued at about $112,000. Tucker Asset Management LLC purchased a new position in Spok during the 4th quarter valued at about $126,000. BNP Paribas Financial Markets increased its position in Spok by 82.8% during the 1st quarter. BNP Paribas Financial Markets now owns 8,577 shares of the Wireless communications provider’s stock valued at $137,000 after purchasing an additional 3,884 shares during the period. Finally, Principal Financial Group Inc. bought a new stake in shares of Spok in the 1st quarter valued at about $170,000. Hedge funds and other institutional investors 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.