Spok (NASDAQ:SPOK) Cut to Sell at Wall Street Zen

Spok (NASDAQ:SPOK) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Separately, Weiss Ratings downgraded Spok from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, June 11th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Spok has an average rating of “Reduce” and a consensus price target of $14.00.

Spok Stock Up 2.0%

NASDAQ:SPOK opened at $10.65 on Friday. The stock’s 50 day moving average price is $10.86 and its two-hundred day moving average price is $12.01. The firm has a market capitalization of $222.48 million, a price-to-earnings ratio of 17.75 and a beta of 0.45. Spok has a 12-month low of $9.95 and a 12-month high of $19.31.

Spok (NASDAQ:SPOK) last released its quarterly earnings data on Wednesday, April 29th. The Wireless communications provider reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.09). Spok had a net margin of 9.27% and a return on equity of 8.64%. The business had revenue of $33.23 million during the quarter, compared to analyst estimates of $35.00 million. Equities research analysts expect that Spok will post 0.66 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Vincent D. Kelly acquired 5,000 shares of the business’s stock in a transaction on Monday, May 11th. The stock was purchased at an average cost of $10.67 per share, for a total transaction of $53,350.00. Following the completion of the transaction, the chief executive officer directly owned 162,565 shares of the company’s stock, valued at approximately $1,734,568.55. The trade was a 3.17% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 7.28% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Spok

Several institutional investors and hedge funds have recently made changes to their positions in the company. Empowered Funds LLC bought a new position in shares of Spok during the first quarter worth approximately $166,000. Renaissance Technologies LLC boosted its stake in Spok by 1.2% in the 1st quarter. Renaissance Technologies LLC now owns 1,261,579 shares of the Wireless communications provider’s stock valued at $13,751,000 after purchasing an additional 15,000 shares during the period. Keebeck Wealth Management grew its holdings in Spok by 25.0% in the 1st quarter. Keebeck Wealth Management now owns 50,000 shares of the Wireless communications provider’s stock valued at $545,000 after buying an additional 10,000 shares in the last quarter. State of Wyoming grew its holdings in Spok by 160.3% in the 1st quarter. State of Wyoming now owns 10,013 shares of the Wireless communications provider’s stock valued at $109,000 after buying an additional 6,167 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Spok by 1.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 715,869 shares of the Wireless communications provider’s stock worth $7,804,000 after buying an additional 12,043 shares during the period. Institutional investors and hedge funds own 50.81% of the company’s stock.

About Spok

Spok, Inc is a publicly traded healthcare communications and collaboration company headquartered in Bellevue, Washington. The company specializes in providing secure, real-time clinical communication solutions designed to streamline workflows and enhance patient care. Serving hospitals, health systems, and other healthcare organizations across North America and selected international markets, Spok has positioned itself as a leading provider of secure messaging and nurse call integration.

Spok’s flagship offering, the Spok Care Connect platform, delivers a suite of integrated products, including secure text and voice messaging, alarm and event management, call center solutions, and digital signage.