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

Spok (NASDAQ:SPOK) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Monday.

Separately, B. Riley raised Spok from a “neutral” rating to a “buy” rating and raised their target price for the stock from $15.00 to $20.00 in a report on Thursday, February 27th.

Spok Stock Up 1.1 %

Shares of NASDAQ:SPOK opened at $16.62 on Monday. Spok has a 52-week low of $13.24 and a 52-week high of $17.96. The stock has a market cap of $339.36 million, a price-to-earnings ratio of 22.77 and a beta of 0.29. The business has a 50-day moving average price of $16.37 and a 200-day moving average price of $15.99.

Spok (NASDAQ:SPOK) last issued its earnings results on Wednesday, February 26th. The Wireless communications provider reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). Spok had a return on equity of 9.20% and a net margin of 10.66%. The business had revenue of $33.89 million for the quarter, compared to analysts’ expectations of $35.50 million. As a group, equities analysts anticipate that Spok will post 0.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. FMR LLC increased its stake in shares of Spok by 39.9% in the 3rd quarter. FMR LLC now owns 14,479 shares of the Wireless communications provider’s stock valued at $218,000 after purchasing an additional 4,130 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Spok by 18.9% in the third quarter. BNP Paribas Financial Markets now owns 3,837 shares of the Wireless communications provider’s stock valued at $58,000 after buying an additional 609 shares in the last quarter. Martingale Asset Management L P increased its position in shares of Spok by 13.6% in the third quarter. Martingale Asset Management L P now owns 19,169 shares of the Wireless communications provider’s stock valued at $289,000 after buying an additional 2,302 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of Spok by 4.2% during the 3rd quarter. HighTower Advisors LLC now owns 673,268 shares of the Wireless communications provider’s stock worth $10,141,000 after buying an additional 27,048 shares during the period. Finally, Stifel Financial Corp purchased a new position in shares of Spok during the 3rd quarter valued at approximately $264,000. 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.