ValuEngine Upgrades Spok (SPOK) to “Hold”

Spok (NASDAQ:SPOK) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

Separately, BidaskClub downgraded Spok from a “sell” rating to a “strong sell” rating in a report on Thursday, January 25th.

How to Become a New Pot Stock Millionaire

Spok stock opened at $15.50 on Friday. Spok has a one year low of $13.75 and a one year high of $20.60. The firm has a market cap of $312.29, a price-to-earnings ratio of 35.46 and a beta of 0.54.

Spok (NASDAQ:SPOK) last issued its earnings results on Wednesday, February 28th. The Wireless communications provider reported $0.14 earnings per share for the quarter. The firm had revenue of $43.77 million for the quarter. Spok had a positive return on equity of 2.88% and a negative net margin of 8.94%.

Spok announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 28th that allows the company to repurchase $10.00 million in outstanding shares. This repurchase authorization allows the Wireless communications provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

In other Spok news, CEO Vincent D. Kelly sold 10,000 shares of the firm’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $15.50, for a total value of $155,000.00. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.63% of the company’s stock.

Hedge funds have recently modified their holdings of the business. American Century Companies Inc. boosted its holdings in shares of Spok by 1.3% during the 4th quarter. American Century Companies Inc. now owns 282,619 shares of the Wireless communications provider’s stock valued at $4,423,000 after acquiring an additional 3,728 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Spok by 4.9% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 90,654 shares of the Wireless communications provider’s stock valued at $1,392,000 after acquiring an additional 4,195 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Spok by 18.2% during the 4th quarter. Municipal Employees Retirement System of Michigan now owns 32,500 shares of the Wireless communications provider’s stock valued at $509,000 after acquiring an additional 5,000 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Spok by 13.1% during the 4th quarter. Rhumbline Advisers now owns 49,788 shares of the Wireless communications provider’s stock valued at $779,000 after acquiring an additional 5,761 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of Spok by 27.0% during the 4th quarter. Wells Fargo & Company MN now owns 30,408 shares of the Wireless communications provider’s stock valued at $476,000 after acquiring an additional 6,471 shares in the last quarter. 84.17% of the stock is currently owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION NOTICE: “ValuEngine Upgrades Spok (SPOK) to “Hold”” was first posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this story on another publication, it was stolen and reposted in violation of United States and international copyright legislation. The correct version of this story can be accessed at https://www.dispatchtribunal.com/2018/04/08/valuengine-upgrades-spok-spok-to-hold.html.

About Spok

Spok Holdings, Inc, through its subsidiary, Spok, Inc, provides various communications solutions to healthcare, government, and other enterprises in the United States, Europe, Canada, Australia, Asia, and the Middle East. The company provides one-way messaging, including numeric messaging services, which enable subscribers to receive messages comprising numbers, such as phone numbers; and alphanumeric messages, including numbers and letters that enable subscribers to receive text messages.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Spok Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spok and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply