Spok (SPOK) Upgraded to “Hold” at BidaskClub

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BidaskClub upgraded shares of Spok (NASDAQ:SPOK) from a sell rating to a hold rating in a research note published on Friday morning.

Separately, ValuEngine upgraded shares of Spok from a sell rating to a hold rating in a report on Friday, August 3rd.

NASDAQ SPOK traded down $0.05 during trading on Friday, hitting $14.90. The company had a trading volume of 63,188 shares, compared to its average volume of 109,086. Spok has a one year low of $13.75 and a one year high of $18.85. The firm has a market capitalization of $299.65 million, a PE ratio of 49.68 and a beta of 0.38.

Spok (NASDAQ:SPOK) last issued its quarterly earnings data on Wednesday, July 25th. The Wireless communications provider reported ($0.05) EPS for the quarter. Spok had a positive return on equity of 2.07% and a negative net margin of 10.59%. The company had revenue of $40.63 million during the quarter.

In other Spok news, CEO Vincent D. Kelly sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $15.20, for a total value of $152,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sharon Woods-Keisling sold 3,120 shares of the stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $15.60, for a total transaction of $48,672.00. Following the completion of the transaction, the insider now owns 27,110 shares of the company’s stock, valued at $422,916. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of Spok by 6.0% in the 2nd quarter. BlackRock Inc. now owns 3,117,215 shares of the Wireless communications provider’s stock worth $46,914,000 after acquiring an additional 176,639 shares in the last quarter. Foundry Partners LLC increased its stake in shares of Spok by 17.9% in the 2nd quarter. Foundry Partners LLC now owns 334,520 shares of the Wireless communications provider’s stock worth $5,035,000 after acquiring an additional 50,850 shares in the last quarter. American Century Companies Inc. increased its stake in shares of 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 acquiring an additional 29,836 shares in the last quarter. Alambic Investment Management L.P. increased its stake in shares of Spok by 44.6% in the 2nd quarter. Alambic Investment Management L.P. now owns 163,198 shares of the Wireless communications provider’s stock worth $2,456,000 after acquiring an additional 50,338 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Spok by 72.8% in the 1st quarter. Royal Bank of Canada now owns 157,542 shares of the Wireless communications provider’s stock worth $2,356,000 after acquiring an additional 66,367 shares in the last quarter. Institutional investors own 82.47% of the company’s stock.

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.

Further Reading: Why is the ex-dividend date different from the record date?

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