Candriam Luxembourg S.C.A. bought a new position in Straight Path Communications Inc (NASDAQ:STRP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 18,595 shares of the company’s stock, valued at approximately $3,341,000.
Other institutional investors have also made changes to their positions in the company. Strs Ohio acquired a new position in shares of Straight Path Communications during the second quarter worth $916,000. Public Employees Retirement Association of Colorado acquired a new position in shares of Straight Path Communications during the second quarter worth $343,000. Kassirer Asset Management Corp acquired a new position in shares of Straight Path Communications during the second quarter worth $808,000. Finally, Sei Investments Co. acquired a new position in shares of Straight Path Communications during the second quarter worth $225,000.
Straight Path Communications Inc (STRP) opened at 178.66 on Wednesday. Straight Path Communications Inc has a 52 week low of $15.06 and a 52 week high of $235.88. The company’s market capitalization is $2.27 billion. The firm has a 50-day moving average price of $179.51 and a 200-day moving average price of $112.40.
Straight Path Communications (NASDAQ:STRP) last announced its earnings results on Friday, June 9th. The company reported ($0.49) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by $0.28. The business had revenue of $0.17 million during the quarter, compared to analyst estimates of $0.17 million. During the same period in the previous year, the business earned $0.25 EPS. Analysts anticipate that Straight Path Communications Inc will post ($3.19) EPS for the current fiscal year.
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In related news, General Counsel David L. Breau sold 1,935 shares of the business’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $179.85, for a total value of $348,009.75. Following the completion of the sale, the general counsel now owns 29,097 shares in the company, valued at $5,233,095.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Zhouyue Pi sold 21,139 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $179.68, for a total value of $3,798,255.52. Following the completion of the sale, the insider now owns 102,500 shares of the company’s stock, valued at approximately $18,417,200. The disclosure for this sale can be found here. Insiders sold 434,562 shares of company stock valued at $78,018,264 in the last quarter.
Straight Path Communications Company Profile
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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