Spok (NASDAQ:SPOK) Downgraded by Wall Street Zen to Buy

Key Points

• Spok was downgraded from "strong-buy" to "buy" by Wall Street Zen, while Weiss Ratings reaffirmed a "buy (b+)" rating.
• The stock currently has a market capitalization of $321.62 million and is trading around $15.62, reflecting a 1.9% drop.
• Insider trading activity included COO Michael W. Wallace and CEO Vincent D. Kelly reducing their holdings by 21.12% and 19.56% respectively.

Spok (NASDAQ:SPOK - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Saturday.

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

Spok Stock Down 1.9%

Shares of SPOK stock opened at $15.62 on Friday. The stock has a market capitalization of $321.62 million, a PE ratio of 18.82 and a beta of 0.49. Spok has a 52-week low of $13.55 and a 52-week high of $19.31. The stock's 50-day moving average price is $17.55 and its 200 day moving average price is $16.87.

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

Insider Activity at Spok

In other news, COO Michael W. Wallace sold 10,806 shares of the business's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $17.87, for a total transaction 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. The trade was a 21.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vincent D. Kelly sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $17.69, for a total value of $442,250.00. Following the completion of the sale, the chief executive officer directly owned 102,817 shares in the company, valued at approximately $1,818,832.73. The trade was a 19.56% decrease in their position. The disclosure for this sale can be found here. 7.37% of the stock is owned by insiders.

Institutional Investors Weigh In On Spok

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. State of Wyoming lifted its stake in Spok by 284.8% in the 2nd quarter. State of Wyoming now owns 25,016 shares of the Wireless communications provider's stock valued at $442,000 after buying an additional 18,515 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Spok by 319.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,774 shares of the Wireless communications provider's stock valued at $49,000 after buying an additional 2,113 shares in the last quarter. Lazard Asset Management LLC lifted its stake in Spok by 8,427.8% in the 2nd quarter. Lazard Asset Management LLC now owns 66,261 shares of the Wireless communications provider's stock valued at $1,171,000 after buying an additional 65,484 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Spok by 345.3% in the 2nd quarter. BNP Paribas Financial Markets now owns 4,872 shares of the Wireless communications provider's stock valued at $86,000 after buying an additional 3,778 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in Spok by 121.3% in the 2nd quarter. Bank of America Corp DE now owns 46,737 shares of the Wireless communications provider's stock valued at $826,000 after buying an additional 25,621 shares in the last quarter. Hedge funds and other institutional investors own 50.81% of the company's stock.

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.

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