Spok (NASDAQ:SPOK) Cut to “Sell” at BidaskClub

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BidaskClub cut shares of Spok (NASDAQ:SPOK) from a hold rating to a sell rating in a report issued on Friday morning, BidAskClub reports.

Shares of SPOK stock opened at $15.19 on Friday. The company has a 50-day moving average of $15.09. Spok has a 1-year low of $12.21 and a 1-year high of $17.25.

Spok (NASDAQ:SPOK) last issued its quarterly earnings results on Wednesday, April 24th. The Wireless communications provider reported $0.04 earnings per share for the quarter. The company had revenue of $41.76 million during the quarter. Spok had a negative return on equity of 0.19% and a negative net margin of 0.31%.

The business also recently declared a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Friday, May 24th were paid a $0.125 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $0.50 annualized dividend and a dividend yield of 3.29%.

In related news, CEO Vincent D. Kelly sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $15.38, for a total transaction of $153,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Todd J. Stein sold 65,376 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $15.84, for a total value of $1,035,555.84. Following the sale, the director now directly owns 2,973 shares of the company’s stock, valued at approximately $47,092.32. The disclosure for this sale can be found here. Corporate insiders own 7.51% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPOK. BNP Paribas Arbitrage SA grew its stake in Spok by 54,571.4% during the first quarter. BNP Paribas Arbitrage SA now owns 3,827 shares of the Wireless communications provider’s stock worth $52,000 after purchasing an additional 3,820 shares during the period. Municipal Employees Retirement System of Michigan acquired a new stake in Spok during the fourth quarter worth approximately $74,000. Oregon Public Employees Retirement Fund acquired a new stake in Spok during the fourth quarter worth approximately $91,000. Metropolitan Life Insurance Co. NY grew its stake in Spok by 523.4% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 7,169 shares of the Wireless communications provider’s stock worth $95,000 after purchasing an additional 6,019 shares during the period. Finally, Brandywine Global Investment Management LLC acquired a new stake in Spok during the fourth quarter worth approximately $137,000. 80.35% of the stock is owned by institutional investors and hedge funds.

Spok Company Profile

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.

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