ZS Pharma Inc (ZSPH) And Straight Path Communications Inc (STRP): Two Stocks Making Big Gains Today For Very Different Reasons

Straight Path Communications Inc (NYSEMKT:STRP)’s stock has been rising significantly since Tuesday when the company released its financial results for the fiscal quarter ending in April 2015. Net income came in at $798,000 with revenues amounting to $2.8 million, compared to a net loss of $277,000 on revenues of $2.7 million for the same quarter of the previous fiscal year. Hedge funds saw this coming, as they were increasing their exposure to the $359.59 million telecommunications company during the second trimester. A total of 12 firms had an aggregate investment of $34.76 million in Straight Path Communications Inc (NYSEMKT:STRP) at the end of June, as opposed to nine firms with $16.81 million in holdings at the end of March. Kahn Brothers, founded by Irving Kahn, is the largest stockholder of the company within our database, holding some 239,800 shares valued at $7.86 million after a 5% cut in stake during the second quarter.

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