Spok (NASDAQ:SPOK) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Spok (NASDAQ:SPOK) from a buy rating to a hold rating in a report published on Wednesday.

Spok Trading Up 0.9 %

SPOK stock opened at $15.20 on Wednesday. The stock has a 50-day moving average price of $15.51 and a two-hundred day moving average price of $15.95. Spok has a 12-month low of $10.46 and a 12-month high of $18.14. The company has a market cap of $307.80 million, a PE ratio of 18.31 and a beta of 0.27.

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

Spok Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Friday, May 24th will be given a $0.313 dividend. This represents a $1.25 annualized dividend and a dividend yield of 8.24%. The ex-dividend date of this dividend is Thursday, May 23rd. Spok’s payout ratio is 150.60%.

Insider Transactions at Spok

In other news, Director Todd J. Stein sold 25,927 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $17.92, for a total value of $464,611.84. Following the completion of the sale, the director now owns 696,637 shares of the company’s stock, valued at $12,483,735.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Todd J. Stein sold 25,927 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $17.92, for a total value of $464,611.84. Following the transaction, the director now owns 696,637 shares in the company, valued at $12,483,735.04. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Barbara Peterson Byrne sold 5,955 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $15.18, for a total value of $90,396.90. Following the completion of the transaction, the director now owns 30,473 shares in the company, valued at approximately $462,580.14. The disclosure for this sale can be found here. Company insiders own 11.88% of the company’s stock.

Institutional Trading of Spok

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Spok by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 1,026,201 shares of the Wireless communications provider’s stock worth $16,368,000 after buying an additional 31,888 shares in the last quarter. Foundry Partners LLC grew its holdings in Spok by 0.3% in the 3rd quarter. Foundry Partners LLC now owns 455,165 shares of the Wireless communications provider’s stock worth $6,495,000 after buying an additional 1,245 shares in the last quarter. Acadian Asset Management LLC bought a new position in Spok in the 3rd quarter worth approximately $3,850,000. Hillsdale Investment Management Inc. bought a new position in Spok in the 1st quarter worth approximately $3,759,000. Finally, Bank of New York Mellon Corp boosted its stake in Spok by 14.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 182,745 shares of the Wireless communications provider’s stock valued at $2,608,000 after purchasing an additional 23,299 shares in the last quarter. 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.