Straight Path Communications Inc (NYSEAMERICAN:STRP) saw a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 1,146,191 shares, a growth of 4.3% from the November 15th total of 1,098,938 shares. Approximately 16.9% of the shares of the company are sold short. Based on an average daily trading volume, of 62,330 shares, the short-interest ratio is presently 18.4 days.
In related news, insider Zhouyue Pi sold 16,978 shares of the stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $181.43, for a total transaction of $3,080,318.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Fred S. Zeidman sold 3,000 shares of the stock in a transaction on Friday, October 13th. The shares were sold at an average price of $181.47, for a total value of $544,410.00. The disclosure for this sale can be found here. Insiders have sold 43,785 shares of company stock worth $7,944,598 over the last ninety days.
Several hedge funds and other institutional investors have recently bought and sold shares of STRP. California State Teachers Retirement System raised its stake in shares of Straight Path Communications by 3.1% in the third quarter. California State Teachers Retirement System now owns 15,686 shares of the technology company’s stock worth $2,834,000 after buying an additional 469 shares during the period. Alpine Associates Management Inc. raised its stake in shares of Straight Path Communications by 133.7% in the third quarter. Alpine Associates Management Inc. now owns 261,700 shares of the technology company’s stock worth $47,282,000 after buying an additional 149,716 shares during the period. Cowen Inc. raised its stake in shares of Straight Path Communications by 319.9% in the third quarter. Cowen Inc. now owns 183,437 shares of the technology company’s stock worth $33,142,000 after buying an additional 139,755 shares during the period. Finally, GSA Capital Partners LLP bought a new position in shares of Straight Path Communications in the third quarter worth about $235,000.
Separately, BidaskClub cut Straight Path Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd.
Straight Path Communications (STRP) opened at $181.30 on Friday. Straight Path Communications has a 12-month low of $26.89 and a 12-month 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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