Spok (NASDAQ:SPOK) announced that its board has approved a share buyback plan, which permits the company to repurchase $10.00 million in shares on Wednesday, February 28th, EventVestor reports. This repurchase authorization permits the Wireless communications provider to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
Separately, BidaskClub cut shares of Spok from a “hold” rating to a “sell” rating in a research report on Tuesday, December 12th.
Spok (NASDAQ SPOK) traded up $0.70 on Thursday, hitting $15.55. 436,600 shares of the company were exchanged, compared to its average volume of 76,050. Spok has a 1-year low of $13.75 and a 1-year high of $20.60. The company has a market cap of $296.75, a PE ratio of 33.00 and a beta of 0.61.
USA Mobility, Inc (USA Mobility) is a holding company, which operates through its indirect wholly owned subsidiary, USA Mobility Wireless, Inc The Company is a provider of wireless messaging, mobile voice and data and unified communications solutions in the United States. In addition, through its indirect wholly owned subsidiary, Amcom Software, Inc (Amcom), it provides mission critical unified communications solutions for contact centers, emergency management, mobile event notification and Smartphone messaging.
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