The Manufacturers Life Insurance Company Purchases Shares of 113,770 Vistance Networks, Inc. $VISN

The Manufacturers Life Insurance Company acquired a new position in shares of Vistance Networks, Inc. (NASDAQ:VISN) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 113,770 shares of the business services provider’s stock, valued at approximately $1,454,000.

A number of other large investors have also recently made changes to their positions in VISN. Persistent Asset Partners Ltd acquired a new position in shares of Vistance Networks during the second quarter valued at about $29,000. Pinnacle Holdings LLC bought a new stake in shares of Vistance Networks during the second quarter worth about $48,000. Meeder Asset Management Inc. acquired a new stake in shares of Vistance Networks in the 2nd quarter worth about $56,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of Vistance Networks in the 2nd quarter worth about $76,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Vistance Networks in the 2nd quarter worth about $150,000. 88.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Vistance Networks

In other Vistance Networks news, Director L William Krause sold 176,136 shares of the company’s stock in a transaction dated 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 completion of the sale, the director directly owned 98,371 shares of the company’s stock, valued at approximately $664,004.25. This represents a 64.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Charles A. Gilstrap acquired 10,000 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was purchased at an average price 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 approximately $3,250,982.75. The trade was a 3.42% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 3.50% of the company’s stock.

Vistance Networks Price Performance

NASDAQ VISN opened at $6.37 on Friday. Vistance Networks, Inc. has a 1 year low of $6.00 and a 1 year high of $20.55. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 0.21 and a beta of 2.39. The company has a fifty day moving average price of $11.29 and a 200-day moving average price of $14.06.

Vistance Networks Announces Dividend

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

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.