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

StockNews.com upgraded shares of Spok (NASDAQ:SPOK) from a hold rating to a buy rating in a research note released on Saturday.

Spok Price Performance

NASDAQ SPOK opened at $14.33 on Friday. The stock’s 50 day simple moving average is $15.09 and its 200 day simple moving average is $15.74. Spok has a one year low of $12.76 and a one year high of $18.14. The firm has a market cap of $290.33 million, a PE ratio of 17.27 and a beta of 0.35.

Spok Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 9th. Investors of record on Monday, August 19th will be issued a $0.313 dividend. The ex-dividend date is Monday, August 19th. This represents a $1.25 dividend on an annualized basis and a yield of 8.74%. Spok’s dividend payout ratio is presently 150.60%.

Insider Buying and Selling

In other news, Director Barbara Peterson Byrne sold 5,955 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were 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 $462,580.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 11.88% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Spok

Hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC lifted its stake in shares of Spok by 439.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,913 shares of the Wireless communications provider’s stock worth $76,000 after buying an additional 4,003 shares during the last quarter. Gladius Capital Management LP bought a new position in Spok in the 2nd quarter valued at about $112,000. Tucker Asset Management LLC acquired a new position in shares of Spok in the fourth quarter valued at approximately $126,000. BNP Paribas Financial Markets increased its stake in shares of Spok by 82.8% during the first quarter. BNP Paribas Financial Markets now owns 8,577 shares of the Wireless communications provider’s stock worth $137,000 after purchasing an additional 3,884 shares during the period. Finally, Thompson Davis & CO. Inc. acquired a new stake in Spok during the 4th quarter worth approximately $167,000. Institutional investors and hedge funds own 50.81% of the company’s stock.

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.