Spok (NASDAQ:SPOK) Downgraded by StockNews.com to Buy

Spok (NASDAQ:SPOK - Get Free Report) was downgraded by research analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a report released on Thursday.

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

Spok Trading Up 0.3 %

Spok stock opened at $16.37 on Thursday. Spok has a twelve month low of $13.24 and a twelve month high of $17.96. The stock has a 50 day moving average of $16.30 and a two-hundred day moving average of $15.86. The stock has a market capitalization of $334.26 million, a price-to-earnings ratio of 22.42 and a beta of 0.29.

Spok (NASDAQ:SPOK - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The Wireless communications provider reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.02). Spok had a return on equity of 9.20% and a net margin of 10.66%. The company had revenue of $33.89 million for the quarter, compared to analyst estimates of $35.50 million. Equities analysts predict that Spok will post 0.76 earnings per share for the current year.

Hedge Funds Weigh In On Spok

A number of large investors have recently modified their holdings of the business. HighTower Advisors LLC raised its stake in shares of Spok by 4.2% during the 3rd quarter. HighTower Advisors LLC now owns 673,268 shares of the Wireless communications provider's stock worth $10,141,000 after buying an additional 27,048 shares in the last quarter. Geode Capital Management LLC increased its stake in Spok by 1.3% in 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 purchasing an additional 6,591 shares in the last quarter. Foundry Partners LLC increased its stake in Spok by 1.0% in the 3rd quarter. Foundry Partners LLC now owns 437,255 shares of the Wireless communications provider's stock valued at $6,585,000 after purchasing an additional 4,120 shares in the last quarter. State Street Corp increased its stake in Spok by 3.1% in the 3rd quarter. State Street Corp now owns 415,876 shares of the Wireless communications provider's stock valued at $6,263,000 after purchasing an additional 12,467 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Spok by 7.6% in the 4th quarter. JPMorgan Chase & Co. now owns 213,575 shares of the Wireless communications provider's stock valued at $3,428,000 after purchasing an additional 15,156 shares in the last quarter. 50.81% of the stock is owned by hedge funds and other institutional investors.

Spok Company Profile

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.

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