Spok (NASDAQ:SPOK) Downgraded by StockNews.com

StockNews.com downgraded shares of Spok (NASDAQ:SPOK) from a buy rating to a hold rating in a research report sent to investors on Monday.

Spok Trading Up 1.8 %

Shares of SPOK stock opened at $15.21 on Monday. The company has a market cap of $307.94 million, a PE ratio of 18.33 and a beta of 0.27. Spok has a 12-month low of $10.46 and a 12-month high of $18.14. The business’s fifty day simple moving average is $15.95 and its 200-day simple moving average is $15.93.

Spok (NASDAQ:SPOK) last issued its quarterly earnings results on Wednesday, May 1st. The Wireless communications provider reported $0.21 earnings per share for the quarter. The business had revenue of $34.91 million for the quarter. Spok had a return on equity of 10.23% and a net margin of 11.93%.

Spok Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, May 24th will be paid a dividend of $0.313 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.25 annualized dividend and a dividend yield of 8.23%. Spok’s payout ratio is currently 150.60%.

Insider Activity

In other Spok news, Director Todd J. Stein sold 25,927 shares of Spok stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $17.92, for a total transaction of $464,611.84. Following the completion of the sale, the director now owns 696,637 shares of the company’s stock, valued at approximately $12,483,735.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 11.88% of the company’s stock.

Hedge Funds Weigh In On Spok

A number of institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC purchased a new position in shares of Spok during the third quarter worth $3,850,000. Allspring Global Investments Holdings LLC raised its stake in shares of Spok by 319.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 132,581 shares of the Wireless communications provider’s stock valued at $1,892,000 after buying an additional 100,956 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Spok in the 3rd quarter valued at about $950,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Spok in the third quarter worth about $707,000. Finally, Janney Montgomery Scott LLC acquired a new stake in Spok during the fourth quarter worth about $681,000. 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.