Lake Street Capital reiterated their buy rating on shares of Spok (NASDAQ:SPOK – Get Rating) in a report published on Monday, Benzinga reports. They currently have a $15.00 price objective on the Wireless communications provider's stock.
Several other analysts also recently commented on the stock. TheStreet raised shares of Spok from a d+ rating to a c- rating in a research report on Monday, October 10th. StockNews.com raised shares of Spok from a buy rating to a strong-buy rating in a report on Friday, October 28th.
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SPOK stock opened at $8.31 on Monday. Spok has a 52-week low of $6.13 and a 52-week high of $10.14. The company's 50 day simple moving average is $8.18 and its 200-day simple moving average is $7.41. The firm has a market capitalization of $163.74 million, a P/E ratio of -8.48 and a beta of 0.31.
Spok (NASDAQ:SPOK – Get Rating) last released its quarterly earnings results on Wednesday, October 26th. The Wireless communications provider reported $0.15 earnings per share (EPS) for the quarter. The business had revenue of $33.74 million for the quarter. Spok had a negative net margin of 14.02% and a positive return on equity of 0.11%.Spok Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, December 9th. Shareholders of record on Wednesday, November 16th were issued a $0.313 dividend. This represents a $1.25 dividend on an annualized basis and a yield of 15.07%. The ex-dividend date was Tuesday, November 15th. Spok's dividend payout ratio (DPR) is presently -127.55%.
Insider Buying and Selling at Spok
In related news, Director Todd J. Stein purchased 6,137 shares of Spok stock in a transaction on Thursday, December 8th. The stock was purchased at an average cost of $7.90 per share, with a total value of $48,482.30. Following the acquisition, the director now directly owns 165,807 shares in the company, valued at $1,309,875.30. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Todd J. Stein purchased 6,137 shares of Spok stock in a transaction on Thursday, December 8th. The stock was purchased at an average cost of $7.90 per share, with a total value of $48,482.30. Following the acquisition, the director now directly owns 165,807 shares in the company, valued at $1,309,875.30. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Vincent D. Kelly purchased 5,000 shares of Spok stock in a transaction on Thursday, November 17th. The stock was bought at an average cost of $8.25 per share, with a total value of $41,250.00. Following the completion of the acquisition, the chief executive officer now owns 276,898 shares in the company, valued at $2,284,408.50. The disclosure for this purchase can be found here. Insiders own 8.59% of the company's stock.
Hedge Funds Weigh In On Spok
A number of hedge funds have recently made changes to their positions in SPOK. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Spok in the 1st quarter valued at $996,000. BlackRock Inc. raised its stake in shares of Spok by 5.1% in the 1st quarter. BlackRock Inc. now owns 445,871 shares of the Wireless communications provider's stock valued at $3,558,000 after buying an additional 21,486 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Spok by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 756,173 shares of the Wireless communications provider's stock valued at $6,034,000 after buying an additional 6,917 shares in the last quarter. Invesco Ltd. raised its stake in shares of Spok by 31.9% in the 1st quarter. Invesco Ltd. now owns 40,868 shares of the Wireless communications provider's stock valued at $326,000 after buying an additional 9,877 shares in the last quarter. Finally, Personal Capital Advisors Corp raised its stake in shares of Spok by 32.4% in the 1st quarter. Personal Capital Advisors Corp now owns 13,825 shares of the Wireless communications provider's stock valued at $110,000 after buying an additional 3,382 shares in the last quarter. Institutional investors and hedge funds own 45.34% of the company's stock.
Spok Company Profile
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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.
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