Spok (SPOK) Lifted to Hold at BidaskClub

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Spok (NASDAQ:SPOK) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Friday.

Separately, ValuEngine raised shares of Spok from a “sell” rating to a “hold” rating in a research note on Friday, August 3rd.

NASDAQ:SPOK opened at $14.90 on Friday. The company has a market cap of $299.65 million, a price-to-earnings ratio of 49.68 and a beta of 0.38. Spok has a fifty-two week low of $13.75 and a fifty-two week high of $18.85.

Spok (NASDAQ:SPOK) last posted its quarterly earnings results on Wednesday, July 25th. The Wireless communications provider reported ($0.05) earnings per share for the quarter. The company had revenue of $40.63 million for the quarter. Spok had a positive return on equity of 2.07% and a negative net margin of 10.59%.

In other news, insider Sharon Woods-Keisling sold 3,120 shares of the firm’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $15.60, for a total value of $48,672.00. Following the transaction, the insider now owns 27,110 shares of the company’s stock, valued at approximately $422,916. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Vincent D. Kelly sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $15.20, for a total transaction of $152,000.00. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Millennium Management LLC raised its stake in shares of Spok by 200.8% in the 2nd quarter. Millennium Management LLC now owns 151,428 shares of the Wireless communications provider’s stock valued at $2,279,000 after acquiring an additional 101,081 shares during the period. Alambic Investment Management L.P. raised its stake in shares of Spok by 44.6% in the 2nd quarter. Alambic Investment Management L.P. now owns 163,198 shares of the Wireless communications provider’s stock valued at $2,456,000 after acquiring an additional 50,338 shares during the period. Citadel Advisors LLC raised its stake in shares of Spok by 30.0% in the 2nd quarter. Citadel Advisors LLC now owns 113,596 shares of the Wireless communications provider’s stock valued at $1,709,000 after acquiring an additional 26,200 shares during the period. Legal & General Group Plc raised its stake in shares of Spok by 11.6% in the 2nd quarter. Legal & General Group Plc now owns 40,160 shares of the Wireless communications provider’s stock valued at $605,000 after acquiring an additional 4,173 shares during the period. Finally, BlackRock Inc. raised its stake in shares of Spok by 6.0% in the 2nd quarter. BlackRock Inc. now owns 3,117,215 shares of the Wireless communications provider’s stock valued at $46,914,000 after acquiring an additional 176,639 shares during the period. 82.47% of the stock is currently owned by institutional investors and hedge funds.

Spok Company Profile

Spok Holdings, Inc, through its subsidiary, Spok, Inc, provides various communications solutions to healthcare, government, and other enterprises in the United States, Europe, Canada, Australia, Asia, and the Middle East. The company provides one-way messaging, including numeric messaging services, which enable subscribers to receive messages comprising numbers, such as phone numbers; and alphanumeric messages, including numbers and letters that enable subscribers to receive text messages.

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