Wall Street Zen Downgrades Spok (NASDAQ:SPOK) to Buy

by · The Markets Daily

Spok (NASDAQ:SPOK – Get Free Report) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Spok in a report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Strong Buy” and a consensus target price of $20.00.

Read Our Latest Stock Report on Spok

Spok Stock Down 1.9%

Shares of NASDAQ:SPOK opened at $15.62 on Friday. The company has a market cap of $321.63 million, a price-to-earnings ratio of 18.82 and a beta of 0.49. The firm’s 50-day simple moving average is $17.55 and its 200-day simple moving average is $16.88. Spok has a fifty-two week low of $13.55 and a fifty-two week high of $19.31.

Spok (NASDAQ:SPOK – Get Free Report) last issued its earnings results on Wednesday, July 30th. The Wireless communications provider reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.04. The business had revenue of $35.69 million for the quarter, compared to the consensus estimate of $35.00 million. Spok had a net margin of 12.12% and a return on equity of 11.11%. Spok has set its FY 2025 guidance at EPS. On average, research analysts forecast that Spok will post 0.76 EPS for the current year.

Insider Activity

In other Spok news, COO Michael W. Wallace sold 10,806 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $17.87, for a total value of $193,103.22. Following the sale, the chief operating officer owned 40,369 shares of the company’s stock, valued at $721,394.03. This represents a 21.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Vincent D. Kelly sold 25,000 shares of the company’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $17.69, for a total transaction of $442,250.00. Following the completion of the sale, the chief executive officer directly owned 102,817 shares in the company, valued at $1,818,832.73. This trade represents a 19.56% decrease in their position. The disclosure for this sale can be found here. 7.37% of the stock is owned by corporate insiders.

Institutional Trading of Spok

Several institutional investors and hedge funds have recently modified their holdings of the business. Ameritas Investment Partners Inc. raised its position in shares of Spok by 41.7% in the second quarter. Ameritas Investment Partners Inc. now owns 2,080 shares of the Wireless communications provider’s stock valued at $37,000 after buying an additional 612 shares during the last quarter. Russell Investments Group Ltd. increased its position in Spok by 40.0% during the second quarter. Russell Investments Group Ltd. now owns 2,613 shares of the Wireless communications provider’s stock worth $46,000 after purchasing an additional 747 shares during the last quarter. SBI Securities Co. Ltd. increased its position in Spok by 62.2% during the first quarter. SBI Securities Co. Ltd. now owns 2,200 shares of the Wireless communications provider’s stock worth $36,000 after purchasing an additional 844 shares during the last quarter. Virtus Investment Advisers LLC increased its position in Spok by 9.3% during the second quarter. Virtus Investment Advisers LLC now owns 10,267 shares of the Wireless communications provider’s stock worth $182,000 after purchasing an additional 875 shares during the last quarter. Finally, Significant Wealth Partners LLC increased its position in Spok by 4.5% during the second quarter. Significant Wealth Partners LLC now owns 23,172 shares of the Wireless communications provider’s stock worth $410,000 after purchasing an additional 1,005 shares during the last quarter. Hedge funds and other institutional investors own 50.81% of the company’s stock.

About Spok

(Get Free Report)

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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