Spok (NASDAQ:SPOK) Upgraded to "Strong-Buy" at StockNews.com

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

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

Spok Price Performance

Shares of Spok stock traded up $0.08 during trading hours on Friday, hitting $15.97. 87,922 shares of the company's stock traded hands, compared to its average volume of 116,566. The stock has a market capitalization of $326.09 million, a price-to-earnings ratio of 21.88 and a beta of 0.29. Spok has a 12-month low of $13.24 and a 12-month high of $17.96. The company has a fifty day simple moving average of $16.33 and a 200-day simple moving average of $15.92.

Spok (NASDAQ:SPOK - Get Free Report) last posted its quarterly 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 company had revenue of $33.89 million during the quarter, compared to the consensus estimate of $35.50 million. Spok had a return on equity of 9.20% and a net margin of 10.66%. On average, analysts forecast that Spok will post 0.76 EPS for the current fiscal year.

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Spok Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.3125 per share. The ex-dividend date is Friday, March 14th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 7.83%. Spok's payout ratio is currently 168.92%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC bought a new stake in Spok during the third quarter worth approximately $26,000. New Age Alpha Advisors LLC purchased a new position in Spok in the 4th quarter worth about $34,000. BNP Paribas Financial Markets raised its position in Spok by 18.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,837 shares of the Wireless communications provider's stock valued at $58,000 after purchasing an additional 609 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Spok by 57.8% in the 4th quarter. Legal & General Group Plc now owns 5,546 shares of the Wireless communications provider's stock valued at $89,000 after purchasing an additional 2,031 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its stake in shares of Spok by 30.8% during the 4th quarter. Lazard Asset Management LLC now owns 5,868 shares of the Wireless communications provider's stock worth $94,000 after purchasing an additional 1,383 shares during the last quarter. 50.81% of the stock is currently owned by 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.