Spok (NASDAQ:SPOK – Get Rating)'s stock had its "buy" rating reissued by equities researchers at Lake Street Capital in a report released on Monday, Benzinga reports. They currently have a $15.00 price target on the Wireless communications provider's stock. Lake Street Capital's price target points to a potential upside of 89.39% from the stock's current price.
Several other brokerages also recently issued reports on SPOK. StockNews.com raised shares of Spok from a "buy" rating to a "strong-buy" rating in a research report on Friday, October 28th. TheStreet upgraded Spok from a "d+" rating to a "c-" rating in a report on Monday, October 10th.
Get Spok alerts:Spok Stock Up 0.9 %
Shares of SPOK traded up $0.07 on Monday, hitting $7.92. The company's stock had a trading volume of 524 shares, compared to its average volume of 132,323. The firm's fifty day moving average price is $8.14 and its 200-day moving average price is $7.38. Spok has a fifty-two week low of $6.13 and a fifty-two week high of $10.14. The firm has a market capitalization of $156.06 million, a price-to-earnings ratio of -8.01 and a beta of 0.31.
Insider Activity
In other Spok news, Director Todd J. Stein bought 6,137 shares of Spok stock in a transaction that occurred on Thursday, December 8th. The stock was acquired at an average price of $7.90 per share, for a total transaction of $48,482.30. Following the completion of the acquisition, the director now owns 165,807 shares of the company's stock, valued at approximately $1,309,875.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Vincent D. Kelly purchased 5,000 shares of the firm's stock in a transaction on Thursday, November 17th. The stock was purchased at an average cost of $8.25 per share, for a total transaction of $41,250.00. Following the completion of the purchase, the chief executive officer now directly owns 276,898 shares in the company, valued at $2,284,408.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Todd J. Stein acquired 6,137 shares of the company's stock in a transaction dated Thursday, December 8th. The shares were bought at an average price of $7.90 per share, for a total transaction of $48,482.30. Following the purchase, the director now owns 165,807 shares in the company, valued at $1,309,875.30. The disclosure for this purchase can be found here. 8.59% of the stock is owned by corporate insiders.Hedge Funds Weigh In On Spok
Several hedge funds and other institutional investors have recently made changes to their positions in SPOK. Jump Financial LLC increased its holdings in shares of Spok by 8.9% in the third quarter. Jump Financial LLC now owns 14,700 shares of the Wireless communications provider's stock valued at $112,000 after purchasing an additional 1,200 shares during the last quarter. Formidable Asset Management LLC boosted its holdings in shares of Spok by 2.3% during the 3rd quarter. Formidable Asset Management LLC now owns 71,560 shares of the Wireless communications provider's stock worth $547,000 after buying an additional 1,590 shares during the period. Toroso Investments LLC grew its stake in Spok by 2.3% in the 3rd quarter. Toroso Investments LLC now owns 71,560 shares of the Wireless communications provider's stock valued at $547,000 after buying an additional 1,590 shares during the last quarter. Royal Bank of Canada raised its holdings in Spok by 8.8% in the 3rd quarter. Royal Bank of Canada now owns 24,600 shares of the Wireless communications provider's stock valued at $188,000 after acquiring an additional 2,000 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Spok by 1.5% during the third quarter. Bank of New York Mellon Corp now owns 196,988 shares of the Wireless communications provider's stock worth $1,505,000 after acquiring an additional 2,931 shares during the last quarter. 54.50% of the stock is owned by institutional investors.
About Spok
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Spok Holdings, Inc, through its subsidiary, Spok, Inc, provides healthcare communication solutions in the United States, Europe, Canada, Australia, Asia, and the Middle East. It delivers clinical information to care teams when and where it matters to enhance patient outcomes. The company offers subscriptions to one-way or two-way messaging services; and ancillary services, such as voicemail, and equipment loss or maintenance protection services, as well as sells devices to resellers who lease or resell them to their subscribers.
Read More
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