Vistance Networks (NASDAQ:VISN) Sets New 12-Month Low – Here’s Why

Vistance Networks, Inc. (NASDAQ:VISN) hit a new 52-week low during mid-day trading on Thursday. The stock traded as low as $5.89 and last traded at $5.8950, with a volume of 1,612,762 shares trading hands. The stock had previously closed at $6.07.

Wall Street Analysts Forecast Growth

VISN has been the topic of a number of recent research reports. Wall Street Zen raised shares of Vistance Networks from a “sell” rating to a “hold” rating in a research report on Sunday, August 30th. Weiss Ratings downgraded Vistance Networks from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, August 17th. Finally, Zacks Research downgraded shares of Vistance Networks from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Four research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $19.33.

Vistance Networks Stock Up 0.5%

The business has a 50 day moving average price of $8.25 and a two-hundred day moving average price of $11.96. The stock has a market cap of $1.40 billion, a P/E ratio of 0.20 and a beta of 2.38.

Vistance Networks Announces Dividend

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

Insider Transactions at Vistance Networks

In related news, Director L. William Krause sold 176,136 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $6.75, for a total value of $1,188,918.00. Following the sale, the director directly owned 98,371 shares in the company, valued at approximately $664,004.25. The trade was a 64.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Charles A. Gilstrap purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were purchased at an average cost of $10.75 per share, with a total value of $107,500.00. Following the completion of the purchase, the chief accounting officer owned 302,417 shares of the company’s stock, valued at $3,250,982.75. The trade was a 3.42% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 3.50% of the company’s stock.

Institutional Trading of Vistance Networks

A number of large investors have recently added to or reduced their stakes in VISN. BlackRock Inc. bought a new position in shares of Vistance Networks during the 2nd quarter valued at approximately $319,679,000. State Street Corp purchased a new stake in Vistance Networks during the second quarter valued at $92,121,000. Bank of America Corp DE bought a new position in Vistance Networks during the second quarter valued at $73,146,000. HighTower Advisors LLC bought a new position in Vistance Networks during the second quarter valued at $34,338,000. Finally, Allianz Asset Management GmbH purchased a new position in shares of Vistance Networks in the 2nd quarter worth $34,115,000. Institutional investors own 88.04% of the company’s stock.

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.