GAM Holding AG acquired a new position in Straight Path Communications Inc (NASDAQ:STRP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 23,549 shares of the company’s stock, valued at approximately $4,231,000. GAM Holding AG owned 0.19% of Straight Path Communications as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Strs Ohio acquired a new stake in shares of Straight Path Communications during the second quarter worth $916,000. Public Employees Retirement Association of Colorado acquired a new stake in shares of Straight Path Communications during the second quarter worth $343,000. Kassirer Asset Management Corp acquired a new stake in shares of Straight Path Communications during the second quarter worth $808,000. Sei Investments Co. acquired a new stake in shares of Straight Path Communications during the second quarter worth $225,000. Finally, Candriam Luxembourg S.C.A. acquired a new stake in shares of Straight Path Communications during the second quarter worth $3,341,000.
Shares of Straight Path Communications Inc (STRP) opened at 179.96 on Friday. Straight Path Communications Inc has a 12 month low of $20.65 and a 12 month high of $235.88. The company’s 50-day moving average is $179.24 and its 200-day moving average is $127.68. The stock’s market capitalization is $2.29 billion.
Straight Path Communications (NASDAQ:STRP) last issued its quarterly earnings data on Friday, June 9th. The company reported ($0.49) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by $0.28. The firm had revenue of $0.17 million for the quarter, compared to the consensus estimate of $0.17 million. During the same quarter in the previous year, the firm earned $0.25 earnings per share. Equities research analysts expect that Straight Path Communications Inc will post ($3.19) earnings per share for the current fiscal year.
In other news, CEO Davidi Jonas sold 9,395 shares of the stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $179.94, for a total value of $1,690,536.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel David L. Breau sold 575 shares of the stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $179.53, for a total transaction of $103,229.75. The disclosure for this sale can be found here. Insiders sold 434,562 shares of company stock worth $78,018,264 over the last three months.
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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