Spok (NASDAQ:SPOK) Cut to “Neutral” at B. Riley Financial

B. Riley Financial lowered shares of Spok (NASDAQ:SPOK) from a buy rating to a neutral rating in a report published on Thursday morning, MarketBeat Ratings reports. B. Riley Financial currently has $14.00 target price on the Wireless communications provider’s stock, down from their prior target price of $21.00.

Other research analysts have also issued reports about the company. Wall Street Zen lowered Spok from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Weiss Ratings reissued a “hold (c+)” rating on shares of Spok in a research note on Monday, December 29th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $14.00.

Spok Price Performance

Shares of NASDAQ SPOK opened at $12.14 on Thursday. The company has a 50 day simple moving average of $13.28 and a 200 day simple moving average of $14.78. Spok has a 1 year low of $11.68 and a 1 year high of $19.31. The firm has a market cap of $250.08 million, a PE ratio of 15.97 and a beta of 0.41.

Spok (NASDAQ:SPOK) last posted its earnings results on Wednesday, February 25th. The Wireless communications provider reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04). The business had revenue of $33.86 million for the quarter, compared to the consensus estimate of $34.60 million. Spok had a return on equity of 10.56% and a net margin of 11.37%. As a group, research analysts anticipate that Spok will post 0.76 earnings per share for the current fiscal year.

Spok Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 16th will be paid a dividend of $0.3125 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $1.25 annualized dividend and a yield of 10.3%. Spok’s dividend payout ratio (DPR) is currently 164.47%.

Hedge Funds Weigh In On Spok

Institutional investors and hedge funds have recently modified their holdings of the business. CSM Advisors LLC acquired a new position in shares of Spok during the 2nd quarter valued at $6,175,000. Goldman Sachs Group Inc. increased its stake in Spok by 33.4% in the first quarter. Goldman Sachs Group Inc. now owns 521,571 shares of the Wireless communications provider’s stock valued at $8,575,000 after purchasing an additional 130,478 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Spok by 344.7% during the fourth quarter. Millennium Management LLC now owns 125,808 shares of the Wireless communications provider’s stock valued at $1,659,000 after purchasing an additional 97,515 shares during the period. Trexquant Investment LP boosted its position in shares of Spok by 92.0% during the 4th quarter. Trexquant Investment LP now owns 170,653 shares of the Wireless communications provider’s stock worth $2,251,000 after purchasing an additional 81,784 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Spok in the 3rd quarter valued at about $1,283,000. 50.81% of the stock is currently owned by institutional investors.

Spok Company Profile

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.