Spok (NASDAQ:SPOK) Rating Increased to Hold at B. Riley

B. Riley upgraded shares of Spok (NASDAQ:SPOK) to a hold rating in a report released on Wednesday, Zacks.com reports.

Separately, StockNews.com cut shares of Spok from a buy rating to a hold rating in a research note on Thursday.

Spok Stock Performance

Shares of SPOK opened at $14.99 on Wednesday. Spok has a fifty-two week low of $13.24 and a fifty-two week high of $18.14. The firm has a 50-day simple moving average of $15.11 and a 200-day simple moving average of $15.29. The company has a market capitalization of $303.49 million, a price-to-earnings ratio of 18.06 and a beta of 0.33.

Spok (NASDAQ:SPOK) last announced its 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 company had revenue of $33.98 million for the quarter.

Spok Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 19th were paid a $0.313 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 8.35%. Spok’s dividend payout ratio (DPR) is presently 150.60%.

Insiders Place Their Bets

In related news, COO Michael W. Wallace sold 25,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $14.80, for a total transaction of $370,000.00. Following the sale, the chief operating officer now owns 49,465 shares of the company’s stock, valued at $732,082. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Vincent D. Kelly sold 45,000 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $14.83, for a total value of $667,350.00. Following the sale, the chief executive officer now directly owns 201,645 shares in the company, valued at approximately $2,990,395.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Michael W. Wallace sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $14.80, for a total transaction of $370,000.00. Following the transaction, the chief operating officer now owns 49,465 shares of the company’s stock, valued at $732,082. The disclosure for this sale can be found here. 11.88% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Hillsdale Investment Management Inc. purchased a new position in Spok during the first quarter worth $3,759,000. Acadian Asset Management LLC raised its stake in Spok by 58.9% in the 2nd quarter. Acadian Asset Management LLC now owns 321,157 shares of the Wireless communications provider’s stock valued at $4,752,000 after purchasing an additional 119,102 shares during the last quarter. Bailard Inc. lifted its holdings in Spok by 17.6% in the 2nd quarter. Bailard Inc. now owns 17,317 shares of the Wireless communications provider’s stock valued at $256,000 after purchasing an additional 2,592 shares in the last quarter. Magnetar Financial LLC purchased a new position in Spok in the 2nd quarter valued at about $513,000. Finally, Redhawk Wealth Advisors Inc. acquired a new stake in shares of Spok during the 2nd quarter worth about $196,000. 50.81% of the stock is owned by hedge funds and other institutional investors.

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.