Spok (NASDAQ:SPOK) Downgraded by BidaskClub

Spok (NASDAQ:SPOK) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Friday, BidAskClub reports.

Shares of Spok stock opened at $15.40 on Friday. Spok has a twelve month low of $12.21 and a twelve month high of $17.25. The company has a 50-day simple moving average of $15.14.

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

In related news, Director Todd J. Stein sold 65,376 shares of Spok stock in a transaction dated 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 completion of the transaction, the director now owns 2,973 shares in the company, valued at approximately $47,092.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Vincent D. Kelly sold 10,000 shares of Spok stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $15.38, for a total value of $153,800.00. The disclosure for this sale can be found here. 7.51% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA increased its stake in shares of Spok by 54,571.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 3,827 shares of the Wireless communications provider’s stock valued at $52,000 after purchasing an additional 3,820 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new stake in Spok in the 4th quarter worth about $74,000. Oregon Public Employees Retirement Fund acquired a new stake in Spok in the 4th quarter worth about $91,000. Metropolitan Life Insurance Co. NY boosted its holdings in Spok by 523.4% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 7,169 shares of the Wireless communications provider’s stock worth $95,000 after buying an additional 6,019 shares during the last quarter. Finally, Brandywine Global Investment Management LLC acquired a new stake in Spok in the 4th quarter worth about $137,000. Hedge funds and other institutional investors own 80.35% of the company’s stock.

About Spok

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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