Spok (NASDAQ:SPOK) Downgraded to “Buy” Rating by StockNews.com

StockNews.com cut shares of Spok (NASDAQ:SPOK) from a strong-buy rating to a buy rating in a research report released on Monday.

Separately, B. Riley raised Spok from a “neutral” rating to a “buy” rating and raised their price target for the company from $15.00 to $20.00 in a report on Thursday, February 27th.

Spok Price Performance

NASDAQ:SPOK opened at $16.44 on Monday. Spok has a 1 year low of $13.24 and a 1 year high of $17.96. The stock’s fifty day moving average price is $16.36 and its two-hundred day moving average price is $15.98. The company has a market cap of $335.69 million, a P/E ratio of 22.52 and a beta of 0.29.

Spok (NASDAQ:SPOK) last issued its earnings results on Wednesday, February 26th. The Wireless communications provider reported $0.18 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.02). Spok had a return on equity of 9.20% and a net margin of 10.66%. The company had revenue of $33.89 million during the quarter, compared to the consensus estimate of $35.50 million. On average, analysts expect that Spok will post 0.76 earnings per share for the current fiscal year.

Spok Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a dividend yield of 7.60%. The ex-dividend date was Friday, March 14th. Spok’s dividend payout ratio (DPR) is currently 168.92%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its stake in Spok by 2,263.5% during the third quarter. JPMorgan Chase & Co. now owns 198,419 shares of the Wireless communications provider’s stock worth $2,988,000 after purchasing an additional 190,024 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Spok in the fourth quarter valued at about $1,253,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Spok by 133.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 105,241 shares of the Wireless communications provider’s stock valued at $1,689,000 after purchasing an additional 60,256 shares during the last quarter. Inspire Investing LLC bought a new position in shares of Spok during the fourth quarter valued at approximately $801,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Spok by 67.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 110,997 shares of the Wireless communications provider’s stock worth $1,782,000 after purchasing an additional 44,896 shares during the period. 50.81% of the stock is currently owned by hedge funds and other institutional investors.

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.