Straight Path Communications Inc (NYSEAMERICAN:STRP) was the recipient of a large decrease in short interest in January. As of January 31st, there was short interest totalling 982,746 shares, a decrease of 18.9% from the January 12th total of 1,211,300 shares. Approximately 14.1% of the company’s stock are short sold. Based on an average trading volume of 429,280 shares, the days-to-cover ratio is presently 2.3 days.
In other news, Director K Chris Todd sold 7,700 shares of the company’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $181.76, for a total value of $1,399,552.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Davidi Jonas sold 131,337 shares of the company’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $181.41, for a total transaction of $23,825,845.17. The disclosure for this sale can be found here. In the last quarter, insiders sold 159,037 shares of company stock valued at $28,865,911.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. grew its position in Straight Path Communications by 15.2% during the fourth quarter. BlackRock Inc. now owns 702,220 shares of the technology company’s stock valued at $127,658,000 after buying an additional 92,716 shares during the period. Alpine Associates Management Inc. lifted its holdings in Straight Path Communications by 17.1% during the fourth quarter. Alpine Associates Management Inc. now owns 306,357 shares of the technology company’s stock valued at $55,692,000 after purchasing an additional 44,657 shares during the last quarter. Cowen Inc. lifted its holdings in Straight Path Communications by 319.9% during the third quarter. Cowen Inc. now owns 183,437 shares of the technology company’s stock valued at $33,142,000 after purchasing an additional 139,755 shares during the last quarter. Havens Advisors LLC lifted its holdings in Straight Path Communications by 9.4% during the fourth quarter. Havens Advisors LLC now owns 70,000 shares of the technology company’s stock valued at $12,725,000 after purchasing an additional 6,000 shares during the last quarter. Finally, Gabelli Funds LLC lifted its holdings in Straight Path Communications by 33.0% during the fourth quarter. Gabelli Funds LLC now owns 68,964 shares of the technology company’s stock valued at $12,537,000 after purchasing an additional 17,104 shares during the last quarter.
Straight Path Communications (NYSEAMERICAN STRP) opened at $182.67 on Monday. The firm has a market cap of $2,330.00, a PE ratio of -40.96 and a beta of -1.92. Straight Path Communications has a 1 year low of $26.89 and a 1 year high of $235.88.
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About Straight Path Communications
Straight Path Communications Inc is a communications asset company. The Company owns Straight Path Spectrum, Inc (Straight Path Spectrum), Straight Path Ventures, LLC (Straight Path Ventures), and Straight Path IP Group, Inc (Straight Path IP Group). The Company’s segments include Straight Path Spectrum, Straight Path Ventures and Straight Path IP Group.
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