Spok (SPOK) Stock Rating Lowered by BidaskClub

Spok (NASDAQ:SPOK) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

Shares of Spok (SPOK) traded down $0.20 during mid-day trading on Tuesday, reaching $15.75. The company’s stock had a trading volume of 131,000 shares, compared to its average volume of 125,721. Spok has a 12 month low of $14.45 and a 12 month high of $22.60. The firm has a market capitalization of $318.73, a P/E ratio of 35.44 and a beta of 0.61.

In other news, CEO Vincent D. Kelly sold 5,000 shares of Spok stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $17.27, for a total transaction of $86,350.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Tom Saine sold 3,000 shares of Spok stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $17.30, for a total value of $51,900.00. Following the sale, the insider now directly owns 43,924 shares in the company, valued at approximately $759,885.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,000 shares of company stock valued at $225,300. 1.63% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Spok by 2.8% during the second quarter. State Street Corp now owns 666,329 shares of the Wireless communications provider’s stock valued at $11,793,000 after buying an additional 18,294 shares during the last quarter. Texas Permanent School Fund raised its holdings in shares of Spok by 0.9% during the second quarter. Texas Permanent School Fund now owns 14,993 shares of the Wireless communications provider’s stock valued at $265,000 after buying an additional 128 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Spok by 7.0% during the second quarter. Ameriprise Financial Inc. now owns 147,707 shares of the Wireless communications provider’s stock valued at $2,614,000 after buying an additional 9,711 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Spok by 1.1% during the second quarter. Renaissance Technologies LLC now owns 1,570,800 shares of the Wireless communications provider’s stock valued at $27,803,000 after buying an additional 17,300 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its holdings in shares of Spok by 10.9% during the second quarter. Parametric Portfolio Associates LLC now owns 132,625 shares of the Wireless communications provider’s stock valued at $2,347,000 after buying an additional 13,054 shares during the last quarter. 85.28% of the stock is currently owned by institutional investors.

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About Spok

USA Mobility, Inc (USA Mobility) is a holding company, which operates through its indirect wholly owned subsidiary, USA Mobility Wireless, Inc The Company is a provider of wireless messaging, mobile voice and data and unified communications solutions in the United States. In addition, through its indirect wholly owned subsidiary, Amcom Software, Inc (Amcom), it provides mission critical unified communications solutions for contact centers, emergency management, mobile event notification and Smartphone messaging.

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