Vest Financial LLC Buys 1,989,489 Shares of Vistance Networks, Inc. $VISN

Vest Financial LLC purchased a new position in shares of Vistance Networks, Inc. (NASDAQ:VISN) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,989,489 shares of the business services provider’s stock, valued at approximately $11,897,000.

Several other institutional investors and hedge funds also recently modified their holdings of VISN. BlackRock Inc. bought a new position in shares of Vistance Networks in the second quarter worth $319,679,000. State Street Corp acquired a new position in shares of Vistance Networks during the second quarter valued at $92,121,000. Bank of America Corp DE bought a new stake in shares of Vistance Networks during the second quarter valued at about $73,146,000. HighTower Advisors LLC bought a new stake in shares of Vistance Networks during the second quarter valued at about $34,338,000. Finally, Allianz Asset Management GmbH bought a new stake in shares of Vistance Networks during the second quarter valued at about $34,115,000. Institutional investors own 88.04% of the company’s stock.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Vistance Networks from a “sell” rating to a “hold” rating in a report on Sunday, August 30th. Weiss Ratings lowered shares of Vistance Networks from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, August 17th. Finally, Zacks Research cut shares of Vistance Networks from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Four research analysts have rated the stock with a Hold rating. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $19.33.

Vistance Networks Price Performance

NASDAQ VISN opened at $6.08 on Friday. Vistance Networks, Inc. has a 12 month low of $5.76 and a 12 month high of $20.55. The firm has a market capitalization of $1.40 billion, a PE ratio of 5.41 and a beta of 2.38. The company’s 50 day simple moving average is $7.24 and its 200 day simple moving average is $11.15.

Vistance Networks Cuts Dividend

The company also recently declared a special dividend, which will be paid on Friday, November 6th. Shareholders of record on Monday, October 26th will be paid a dividend of $1.50 per share. This is a negative change from Vistance Networks’s previous special dividend of $5.00.

Vistance Networks Profile

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.