Spok (NASDAQ:SPOK) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Spok (NASDAQ:SPOK) from a hold rating to a buy rating in a research note issued to investors on Friday.

Separately, B. Riley began coverage on shares of Spok in a research note on Thursday, September 26th. They set a “neutral” rating and a $15.00 price objective for the company.

Spok Price Performance

SPOK opened at $15.14 on Friday. The stock has a market capitalization of $306.52 million, a price-to-earnings ratio of 18.24 and a beta of 0.33. Spok has a 12 month low of $13.24 and a 12 month high of $18.14. The business has a 50-day moving average of $14.93 and a two-hundred day moving average of $15.06.

Insider Buying and Selling at Spok

In other news, CEO Vincent D. Kelly sold 45,000 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $14.83, for a total value of $667,350.00. Following the completion of the sale, the chief executive officer now owns 201,645 shares of the company’s stock, valued at $2,990,395.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Spok news, COO Michael W. Wallace sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $14.80, for a total value of $370,000.00. Following the transaction, the chief operating officer now directly owns 49,465 shares of the company’s stock, valued at $732,082. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Vincent D. Kelly sold 45,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $14.83, for a total value of $667,350.00. Following the transaction, the chief executive officer now owns 201,645 shares in the company, valued at approximately $2,990,395.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 11.88% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Spok

Hedge funds have recently modified their holdings of the stock. nVerses Capital LLC purchased a new position in Spok in the 3rd quarter worth approximately $27,000. Redhawk Wealth Advisors Inc. lifted its position in shares of Spok by 10.6% during the third quarter. Redhawk Wealth Advisors Inc. now owns 14,631 shares of the Wireless communications provider’s stock worth $220,000 after purchasing an additional 1,408 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Spok in the third quarter valued at $116,000. Sanctuary Advisors LLC acquired a new stake in Spok during the 2nd quarter valued at $372,000. Finally, Magnetar Financial LLC purchased a new stake in Spok during the 2nd quarter worth $513,000. 50.81% of the stock is currently 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.