Vistance Networks (NASDAQ:VISN) Shares Gap Up – Still a Buy?

Vistance Networks, Inc. (NASDAQ:VISN) shares gapped up before the market opened on Thursday . The stock had previously closed at $11.05, but opened at $11.61. Vistance Networks shares last traded at $11.4150, with a volume of 525,005 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Weiss Ratings lowered Vistance Networks from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, August 17th. Northland Securities set a $17.00 price target on Vistance Networks in a report on Friday, May 1st. Zacks Research lowered Vistance Networks from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Finally, Wall Street Zen downgraded Vistance Networks from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.33.

Vistance Networks Stock Performance

The business’s 50 day simple moving average is $11.80 and its 200-day simple moving average is $14.46. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 0.20 and a beta of 2.36.

Vistance Networks Announces Dividend

The firm also recently declared a dividend, which was paid on Thursday, August 27th. Stockholders of record on Monday, August 17th were issued a dividend of $5.00 per share. The ex-dividend date of this dividend was Friday, August 28th.

Insider Activity

In other Vistance Networks news, CAO Charles A. Gilstrap acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was acquired at an average cost of $10.75 per share, with a total value of $107,500.00. Following the acquisition, the chief accounting officer directly owned 302,417 shares of the company’s stock, valued at $3,250,982.75. This represents a 3.42% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Persistent Asset Partners Ltd acquired a new position in Vistance Networks during the 2nd quarter valued at about $29,000. Triumph Capital Management acquired a new position in shares of Vistance Networks during the second quarter valued at approximately $32,000. First Bancorp Inc ME acquired a new position in shares of Vistance Networks during the second quarter valued at approximately $38,000. Pinnacle Holdings LLC bought a new stake in Vistance Networks during the second quarter worth approximately $48,000. Finally, Nykredit A S bought a new stake in Vistance Networks during the second quarter worth approximately $54,000. 88.04% of the stock is owned by institutional investors and hedge funds.

About Vistance Networks

CommScope Holding Company, Inc provides infrastructure solutions for communications and entertainment networks. It operates through four segments: Broadband Networks (Broadband), Outdoor Wireless Networks (OWN), Venue and Campus Networks (VCN), and Home Networks (Home). The Broadband segment provides converged cable access platforms, passive optical networking products, video systems, access technologies, fiber and coaxial cables, fiber and copper connectivity products, and hardened closures to the telco and cable provider broadband market.