Spok (NASDAQ:SPOK) Rating Increased to Hold at B. Riley

B. Riley upgraded shares of Spok (NASDAQ:SPOK) to a hold rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

Separately, StockNews.com cut Spok from a buy rating to a hold rating in a research report on Thursday.

Spok Price Performance

NASDAQ SPOK opened at $15.16 on Wednesday. The company’s fifty day moving average is $15.09 and its two-hundred day moving average is $15.26. The firm has a market capitalization of $306.93 million, a price-to-earnings ratio of 18.27 and a beta of 0.33. Spok has a 52-week low of $13.24 and a 52-week high of $18.14.

Spok (NASDAQ:SPOK) last issued its quarterly earnings results on Wednesday, July 24th. The Wireless communications provider reported $0.17 earnings per share (EPS) for the quarter. The firm had revenue of $33.98 million for the quarter. Spok had a return on equity of 9.56% and a net margin of 11.19%.

Spok Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 19th were paid a $0.313 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.25 dividend on an annualized basis and a yield of 8.26%. Spok’s payout ratio is currently 150.60%.

Insiders Place Their Bets

In related news, CEO Vincent D. Kelly sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $14.83, for a total transaction of $667,350.00. Following the completion of the transaction, the chief executive officer now owns 201,645 shares in the company, valued at approximately $2,990,395.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Spok news, COO Michael W. Wallace sold 25,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $14.80, for a total value of $370,000.00. Following the transaction, the chief operating officer now directly owns 49,465 shares in the company, valued at $732,082. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Vincent D. Kelly sold 45,000 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $14.83, for a total transaction of $667,350.00. Following the sale, the chief executive officer now directly owns 201,645 shares in the company, valued at $2,990,395.35. The disclosure for this sale can be found here. Corporate insiders own 11.88% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SPOK. Gladius Capital Management LP acquired a new position in Spok during the 2nd quarter worth about $112,000. Tucker Asset Management LLC bought a new stake in shares of Spok during the fourth quarter valued at approximately $126,000. BNP Paribas Financial Markets increased its holdings in shares of Spok by 82.8% in the first quarter. BNP Paribas Financial Markets now owns 8,577 shares of the Wireless communications provider’s stock valued at $137,000 after purchasing an additional 3,884 shares in the last quarter. Principal Financial Group Inc. bought a new position in Spok in the 1st quarter worth approximately $170,000. Finally, Redhawk Wealth Advisors Inc. bought a new position in Spok in the 2nd quarter worth approximately $196,000. Institutional investors 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.