Spok (NASDAQ:SPOK) Upgraded at StockNews.com

StockNews.com upgraded shares of Spok (NASDAQ:SPOK - Free Report) from a buy rating to a strong-buy rating in a report released on Tuesday.

Separately, B. Riley upgraded shares of Spok from a "neutral" rating to a "buy" rating and increased their target price for the company from $15.00 to $20.00 in a research report on Thursday, February 27th.

Spok Stock Up 1.1 %

NASDAQ SPOK traded up $0.16 on Tuesday, hitting $15.13. The stock had a trading volume of 121,353 shares, compared to its average volume of 119,025. The company's 50-day moving average is $16.23 and its two-hundred day moving average is $15.99. The stock has a market cap of $308.94 million, a price-to-earnings ratio of 20.73 and a beta of 0.40. Spok has a one year low of $13.24 and a one year high of $17.96.

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

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Spok Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.3125 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.25 dividend on an annualized basis and a yield of 8.26%. Spok's dividend payout ratio (DPR) is 168.92%.

Hedge Funds Weigh In On Spok

Several hedge funds have recently modified their holdings of the company. New Age Alpha Advisors LLC bought a new position in Spok during the fourth quarter valued at about $34,000. BNP Paribas Financial Markets lifted its holdings in Spok by 18.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,837 shares of the Wireless communications provider's stock valued at $58,000 after acquiring an additional 609 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Spok by 57.8% during 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. Lazard Asset Management LLC grew its stake in shares of Spok by 30.8% in 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. Finally, GAMMA Investing LLC raised its holdings in shares of Spok by 2,378.4% in the 1st quarter. GAMMA Investing LLC now owns 9,864 shares of the Wireless communications provider's stock worth $162,000 after purchasing an additional 9,466 shares in the last quarter. 50.81% of the stock is currently owned by institutional investors and hedge funds.

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.