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

StockNews.com cut shares of Spok (NASDAQ:SPOK - Free Report) from a strong-buy rating to a buy rating in a research note published on Monday morning.

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

Spok Trading Down 3.1 %

Spok stock traded down $0.51 during midday trading on Monday, hitting $15.87. The stock had a trading volume of 84,149 shares, compared to its average volume of 117,421. Spok has a 52-week low of $13.24 and a 52-week high of $17.96. The company has a market capitalization of $324.05 million, a PE ratio of 21.74 and a beta of 0.40. The firm's fifty day moving average is $16.39 and its two-hundred day moving average is $15.99.

Spok (NASDAQ:SPOK - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The Wireless communications provider reported $0.18 earnings per share (EPS) 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 firm had revenue of $33.89 million during the quarter, compared to analysts' expectations of $35.50 million. As a group, equities research analysts predict that Spok will post 0.76 earnings per share for the current fiscal year.

Spok Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.3125 dividend. This represents a $1.25 annualized dividend and a dividend yield of 7.88%. The ex-dividend date was Friday, March 14th. Spok's dividend payout ratio (DPR) is presently 168.92%.

Hedge Funds Weigh In On Spok

Several institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio bought a new position in shares of Spok during the 4th quarter valued at about $196,000. Millennium Management LLC boosted its stake in Spok by 37.9% during the fourth quarter. Millennium Management LLC now owns 52,929 shares of the Wireless communications provider's stock valued at $850,000 after buying an additional 14,552 shares during the last quarter. Lazard Asset Management LLC grew its holdings in Spok by 30.8% during the 4th quarter. Lazard Asset Management LLC now owns 5,868 shares of the Wireless communications provider's stock valued at $94,000 after buying an additional 1,383 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Spok in the 4th quarter worth approximately $1,253,000. Finally, Deutsche Bank AG raised its holdings in shares of Spok by 83.2% during the 4th quarter. Deutsche Bank AG now owns 20,075 shares of the Wireless communications provider's stock worth $322,000 after acquiring an additional 9,115 shares in the last quarter. 50.81% of the stock is owned by hedge funds and other 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.