In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Straight Path Communications Inc. (NYSEMKT:STRP) reported that Miller Lloyd I Iii has picked up 658,930 of common stock as of 2017-04-12.
The acquisition brings the aggregate amount owned by Miller Lloyd I Iii to a total of 658,930 representing a 5.6% stake in the company.
For those not familiar with the company, 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. The Company holds a range of licenses for fixed and mobile wireless spectrum in the United States. These include licenses in the 39 gigahertz (38.6-40 gigahertz) band and the 28 gigahertz (27.5-28.35 gigahertz) portion of the local multipoint distribution service (LMDS) band. The Company also holds licenses for fixed wireless spectrum in other parts of the LMDS band. Straight Path Ventures is engaged in developing wireless technology. The Straight Path IP Group’s principal business is the acquisition, development, licensing and protection of intellectual property.
A glance at Straight Path Communications Inc. (NYSEMKT:STRP)’s key stats reveals a current market capitalization of 1.14 Billion based on 11.70 Million shares outstanding and a price at last close of $92.00 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-01-15, Miller picked up 4,000 at a purchase price of $12.55. This brings their total holding to 12,000 as of the date of the filing.
On the sell side, the most recent transaction saw Jonas unload 3,268 shares at a sale price of $89.70. This brings their total holding to 0.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Straight Path Communications Inc. (NYSEMKT:STRP) as things move forward to see if its progress aligns with these transactions.
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