Spok (NASDAQ:SPOK) Downgraded to Hold at StockNews.com

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

Separately, B. Riley started coverage on shares of Spok in a research report on Thursday. They set a “neutral” rating and a $15.00 target price on the stock.

Spok Trading Up 1.1 %

Shares of SPOK stock opened at $15.16 on Thursday. Spok has a 12-month low of $13.24 and a 12-month high of $18.14. The company has a market cap of $306.93 million, a price-to-earnings ratio of 18.27 and a beta of 0.33. The stock has a 50 day simple moving average of $15.09 and a 200-day simple moving average of $15.27.

Spok (NASDAQ:SPOK) last released its earnings results on Wednesday, July 24th. The Wireless communications provider reported $0.17 EPS 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 during the quarter.

Insider Activity

In related news, CEO Vincent D. Kelly sold 45,000 shares of the 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 of the company’s stock, valued at approximately $2,990,395.35. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, COO Michael W. Wallace sold 25,000 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $14.80, for a total value of $370,000.00. Following the completion of the transaction, the chief operating officer now directly 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 is accessible through this hyperlink. Also, 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 sale, the chief executive officer now directly owns 201,645 shares in the company, 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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new position in shares of Spok in the fourth quarter valued at approximately $681,000. Campbell & CO Investment Adviser LLC boosted its position in Spok by 12.9% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 55,951 shares of the Wireless communications provider’s stock worth $866,000 after acquiring an additional 6,392 shares during the last quarter. Tucker Asset Management LLC purchased a new stake in Spok in the 4th quarter worth approximately $126,000. Hennion & Walsh Asset Management Inc. raised its holdings in Spok by 61.6% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 34,738 shares of the Wireless communications provider’s stock valued at $554,000 after acquiring an additional 13,245 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new position in Spok in the 1st quarter valued at $170,000. 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.