Spok (NASDAQ:SPOK) Coverage Initiated by Analysts at B. Riley

B. Riley initiated coverage on shares of Spok (NASDAQ:SPOK) in a research note released on Thursday morning, MarketBeat.com reports. The firm issued a neutral rating and a $15.00 price objective on the Wireless communications provider’s stock.

Separately, StockNews.com upgraded shares of Spok from a hold rating to a buy rating in a research report on Saturday, August 3rd.

Spok Stock Performance

Shares of SPOK stock opened at $15.16 on Thursday. The stock has a market capitalization of $306.93 million, a P/E ratio of 18.27 and a beta of 0.33. The company has a 50 day moving average price of $15.09 and a 200 day moving average price of $15.24. Spok has a fifty-two week low of $13.24 and a fifty-two week high of $18.14.

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

Spok Dividend Announcement

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

Insider Buying and Selling at Spok

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

Institutional Investors Weigh In On Spok

A number of hedge funds have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC bought a new stake in Spok in the second quarter valued at $372,000. Magnetar Financial LLC bought a new stake in shares of Spok during the second quarter valued at about $513,000. Sei Investments Co. bought a new stake in shares of Spok during the second quarter valued at about $579,000. Renaissance Technologies LLC grew its holdings in Spok by 2.2% during the second quarter. Renaissance Technologies LLC now owns 1,014,722 shares of the Wireless communications provider’s stock worth $15,028,000 after acquiring an additional 21,500 shares during the period. Finally, American Century Companies Inc. grew its holdings in Spok by 28.7% during the second quarter. American Century Companies Inc. now owns 20,321 shares of the Wireless communications provider’s stock worth $301,000 after acquiring an additional 4,530 shares during the period. 50.81% of the stock is currently owned by 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.