Spok (NASDAQ:SPOK) Rating Increased 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 report sent to investors on Friday morning.

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

Spok Stock Performance

NASDAQ SPOK opened at $15.89 on Friday. The company has a market capitalization of $324.46 million, a P/E ratio of 21.77 and a beta of 0.29. Spok has a one year low of $13.24 and a one year high of $17.96. The stock has a 50 day moving average price of $16.33 and a 200-day moving average price of $15.90.

Spok (NASDAQ:SPOK) last posted its earnings results on Wednesday, February 26th. The Wireless communications provider reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). The firm had revenue of $33.89 million for the quarter, compared to the consensus estimate of $35.50 million. Spok had a net margin of 10.66% and a return on equity of 9.20%. As a group, equities analysts predict that Spok will post 0.76 EPS for the current fiscal year.

Spok Cuts Dividend

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

Institutional Trading of Spok

A number of institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its position in shares of 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. bought a new stake in shares of Spok during the fourth quarter worth $1,253,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Spok by 133.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 105,241 shares of the Wireless communications provider’s stock worth $1,689,000 after purchasing an additional 60,256 shares during the last quarter. Inspire Investing LLC bought a new stake in shares of Spok during the fourth quarter worth $801,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Spok by 67.9% during the fourth 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 last quarter. 50.81% of the stock is currently owned by 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.