Spok (SPOK) Downgraded by BidaskClub to “Buy”

BidaskClub downgraded shares of Spok (NASDAQ:SPOK) from a strong-buy rating to a buy rating in a research note released on Wednesday morning.

NASDAQ:SPOK opened at $13.04 on Wednesday. Spok has a twelve month low of $13.00 and a twelve month high of $17.55. The stock has a market capitalization of $255.85 million, a price-to-earnings ratio of 131.50 and a beta of 0.48.

Spok (NASDAQ:SPOK) last released its quarterly earnings results on Wednesday, October 24th. The Wireless communications provider reported ($0.02) earnings per share for the quarter. Spok had a negative net margin of 13.14% and a positive return on equity of 0.65%. The business had revenue of $42.48 million during the quarter.



The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 16th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.83%.

In related news, CEO Vincent D. Kelly sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, December 4th. The stock was sold at an average price of $13.91, for a total transaction of $139,100.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.60% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its stake in Spok by 1.9% in the 3rd quarter. BlackRock Inc. now owns 3,175,798 shares of the Wireless communications provider’s stock worth $48,907,000 after purchasing an additional 58,583 shares during the period. Renaissance Technologies LLC increased its stake in Spok by 1.2% in the 3rd quarter. Renaissance Technologies LLC now owns 1,581,889 shares of the Wireless communications provider’s stock worth $24,361,000 after purchasing an additional 18,989 shares during the period. Bank of New York Mellon Corp increased its stake in Spok by 2.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 510,995 shares of the Wireless communications provider’s stock worth $7,868,000 after purchasing an additional 11,550 shares during the period. Bridgeway Capital Management Inc. increased its stake in Spok by 2.8% in the 3rd quarter. Bridgeway Capital Management Inc. now owns 309,664 shares of the Wireless communications provider’s stock worth $4,769,000 after purchasing an additional 8,500 shares during the period. Finally, American Century Companies Inc. increased its stake in Spok by 10.7% in the 2nd quarter. American Century Companies Inc. now owns 308,804 shares of the Wireless communications provider’s stock worth $4,648,000 after purchasing an additional 29,836 shares during the period. 81.69% of the stock is currently owned by institutional investors and hedge funds.

About Spok

Spok Holdings, Inc, through its subsidiary, Spok, Inc, provides various communications solutions to healthcare, government, and other enterprises in the United States, Europe, Canada, Australia, Asia, and the Middle East. The company provides one-way messaging, including numeric messaging services, which enable subscribers to receive messages comprising numbers, such as phone numbers; and alphanumeric messages, including numbers and letters that enable subscribers to receive text messages.

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