Cowen Inc. Grows Stake in Straight Path Communications Inc (STRP)
Cowen Inc. raised its position in Straight Path Communications Inc (NYSEAMERICAN:STRP) by 319.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 183,437 shares of the technology company’s stock after purchasing an additional 139,755 shares during the quarter. Straight Path Communications accounts for approximately 1.2% of Cowen Inc.’s portfolio, making the stock its 16th largest holding. Cowen Inc. owned about 1.54% of Straight Path Communications worth $33,142,000 at the end of the most recent quarter.
Separately, Alpine Associates Management Inc. grew 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 valued at $47,282,000 after buying an additional 149,716 shares in the last quarter.
Separately, BidaskClub lowered Straight Path Communications from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 25th.
In other Straight Path Communications news, insider Zhouyue Pi sold 16,978 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jonathan Rand sold 300 shares of the firm’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $181.58, for a total value of $54,474.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,785 shares of company stock valued at $7,944,598.
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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