disclosed that they own a 20.5% stake in CounterPath Corporation (NASDAQ:CPAH) (TSE:CCV) in a Form 13D/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Monday, July 24th. The investor owns 1,140,400 shares of the stock valued at about $2,896,616. The reporting parties listed on the disclosure included Steven Bruk, Karen Bruk and KMB Trac Two Holdings Ltd. The disclosure is available through the SEC website at this link.
provided the following explanation of their ownership:
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CounterPath Corporation (CPAH) opened at 2.54 on Friday. The company’s 50-day moving average price is $2.40 and its 200-day moving average price is $2.29. CounterPath Corporation has a one year low of $1.75 and a one year high of $2.99. The stock’s market cap is $12.56 million.
CPAH has been the topic of a number of research analyst reports. Zacks Investment Research downgraded CounterPath Corporation from a “hold” rating to a “sell” rating in a report on Thursday, May 11th. ValuEngine upgraded CounterPath Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th.
In other news, major shareholder Steven Bruk acquired 180,446 shares of CounterPath Corporation stock in a transaction that occurred on Thursday, July 20th. The shares were bought at an average cost of $2.20 per share, with a total value of $396,981.20. Following the transaction, the insider now directly owns 58,647 shares of the company’s stock, valued at approximately $129,023.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Donovan Jones acquired 11,368 shares of CounterPath Corporation stock in a transaction that occurred on Thursday, July 20th. The stock was purchased at an average cost of $2.20 per share, for a total transaction of $25,009.60. Following the completion of the transaction, the chief executive officer now directly owns 71,935 shares in the company, valued at $158,257. The disclosure for this purchase can be found here. Insiders purchased a total of 200,870 shares of company stock worth $441,914 over the last three months. 37.10% of the stock is currently owned by corporate insiders.
About CounterPath Corporation
CounterPath Corporation designs, develops and sells software and services that enable enterprises and telecommunication service providers to deliver unified communications (UC) services, including voice, video, messaging and collaboration functionality, over their Internet Protocol (IP)-based networks.
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