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

Spok (NASDAQ:SPOK) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Monday.

Separately, B. Riley upgraded shares of Spok from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $15.00 to $20.00 in a research note on Thursday, February 27th.

Spok Trading Up 0.5 %

Shares of SPOK traded up $0.08 during mid-day trading on Monday, reaching $16.44. The company had a trading volume of 175,200 shares, compared to its average volume of 117,752. Spok has a fifty-two week low of $13.24 and a fifty-two week high of $17.96. The firm has a fifty day simple moving average of $16.36 and a 200-day simple moving average of $15.98. The stock has a market cap of $335.69 million, a price-to-earnings ratio of 22.52 and a beta of 0.29.

Spok (NASDAQ:SPOK) last posted its quarterly earnings results 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). The firm had revenue of $33.89 million for the quarter, compared to analysts’ expectations of $35.50 million. Spok had a net margin of 10.66% and a return on equity of 9.20%. As a group, equities analysts predict that Spok will post 0.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Spok

Hedge funds and other institutional investors have recently bought and sold shares of the stock. New Age Alpha Advisors LLC purchased a new stake in shares of Spok during the fourth quarter valued at approximately $34,000. BNP Paribas Financial Markets increased its stake 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 worth $58,000 after buying an additional 609 shares during the period. Legal & General Group Plc lifted its holdings in Spok by 57.8% in the 4th quarter. Legal & General Group Plc now owns 5,546 shares of the Wireless communications provider’s stock worth $89,000 after buying an additional 2,031 shares in the last quarter. Lazard Asset Management LLC boosted its position in Spok by 30.8% in 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 during the last quarter. Finally, Cerity Partners LLC acquired a new stake in shares of Spok during the fourth quarter valued at about $183,000. 50.81% of the stock is owned by institutional investors and hedge funds.

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.