Spok (NASDAQ:SPOK) Upgraded to Strong-Buy at StockNews.com

StockNews.com upgraded shares of Spok (NASDAQ:SPOK) from a buy rating to a strong-buy rating in a research note published on Friday morning.

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

Spok Stock Down 0.1 %

Shares of NASDAQ:SPOK opened at $15.89 on Friday. The firm’s 50 day moving average price is $16.33 and its 200-day moving average price is $15.90. Spok has a twelve month low of $13.24 and a twelve month high of $17.96. The stock has a market capitalization of $324.46 million, a PE ratio of 21.77 and a beta of 0.29.

Spok (NASDAQ:SPOK) last issued its quarterly earnings data on Wednesday, February 26th. The Wireless communications provider reported $0.18 earnings per share 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 business had revenue of $33.89 million during the quarter, compared to the consensus estimate of $35.50 million. Analysts expect that Spok will post 0.76 earnings per share for the current fiscal year.

Spok Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.3125 dividend. This represents a $1.25 annualized dividend and a yield of 7.87%. The ex-dividend date of this dividend is Friday, March 14th. Spok’s dividend payout ratio is 168.92%.

Institutional Investors Weigh In On Spok

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC increased its holdings in Spok by 4.2% in the 3rd quarter. HighTower Advisors LLC now owns 673,268 shares of the Wireless communications provider’s stock worth $10,141,000 after acquiring an additional 27,048 shares in the last quarter. Geode Capital Management LLC grew its holdings in Spok by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 514,427 shares of the Wireless communications provider’s stock valued at $8,258,000 after buying an additional 6,591 shares in the last quarter. State Street Corp grew its holdings in Spok by 3.1% during the 3rd quarter. State Street Corp now owns 415,876 shares of the Wireless communications provider’s stock valued at $6,263,000 after buying an additional 12,467 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Spok by 7.6% during the 4th quarter. JPMorgan Chase & Co. now owns 213,575 shares of the Wireless communications provider’s stock valued at $3,428,000 after buying an additional 15,156 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Spok by 4.1% during the 4th quarter. Northern Trust Corp now owns 207,068 shares of the Wireless communications provider’s stock valued at $3,323,000 after buying an additional 8,175 shares in the last quarter. 50.81% of the stock is owned by hedge funds and other 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.