Equities research analysts at B. Riley assumed coverage on shares of Spok (NASDAQ:SPOK – Get Free Report) in a research report issued on Thursday, Briefing.com reports. The brokerage set a “neutral” rating and a $15.00 price target on the Wireless communications provider’s stock. B. Riley’s price target indicates a potential upside of 0.13% from the stock’s current price.
Separately, StockNews.com raised shares of Spok from a “hold” rating to a “buy” rating in a research note on Saturday, August 3rd.
Check Out Our Latest Stock Report on Spok
Spok Price Performance
Spok (NASDAQ:SPOK – Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The Wireless communications provider reported $0.17 earnings per share (EPS) for the quarter. The company had revenue of $33.98 million for the quarter. Spok had a return on equity of 9.56% and a net margin of 11.19%.
Insider Activity
In other Spok 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 completion of the transaction, the chief executive officer now directly owns 201,645 shares in the company, valued at $2,990,395.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Michael W. Wallace sold 25,000 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $14.80, for a total transaction 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. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Vincent D. Kelly sold 45,000 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was 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 directly owns 201,645 shares of the company’s stock, valued at approximately $2,990,395.35. The disclosure for this sale can be found here. Company insiders own 11.88% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in SPOK. Hillsdale Investment Management Inc. purchased a new stake in shares of Spok during the first quarter worth about $3,759,000. Acadian Asset Management LLC increased its stake in Spok by 58.9% during 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 in the last quarter. Truvestments Capital LLC acquired a new position in Spok during the 1st quarter valued at approximately $1,868,000. Janney Montgomery Scott LLC purchased a new position in shares of Spok in the fourth quarter worth $681,000. Finally, Sei Investments Co. acquired a new stake in shares of Spok during the second quarter worth $579,000. 50.81% of the stock is owned by institutional investors and hedge funds.
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.
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