Jupiter Topco LLC Buys Shares of 91,912 Vistance Networks, Inc. $VISN

Jupiter Topco LLC purchased a new position in Vistance Networks, Inc. (NASDAQ:VISN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 91,912 shares of the business services provider’s stock, valued at approximately $1,175,000.

Several other hedge funds have also recently modified their holdings of the business. Algert Global LLC boosted its stake in shares of Vistance Networks by 531.5% during the second quarter. Algert Global LLC now owns 574,865 shares of the business services provider’s stock valued at $7,347,000 after purchasing an additional 483,840 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Vistance Networks in the second quarter worth approximately $10,674,000. BlackRock Inc. bought a new position in Vistance Networks in the second quarter worth approximately $319,679,000. GSA Capital Partners LLP purchased a new stake in Vistance Networks during the second quarter worth $2,374,000. Finally, Galaxy Digital Inc. purchased a new stake in Vistance Networks during the second quarter worth $1,917,000. Hedge funds and other institutional investors own 88.04% of the company’s stock.

Vistance Networks Price Performance

NASDAQ VISN opened at $6.40 on Friday. The stock’s fifty day moving average price is $11.17 and its 200 day moving average price is $14.01. Vistance Networks, Inc. has a 1 year low of $6.00 and a 1 year high of $20.55. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 0.21 and a beta of 2.39.

Vistance Networks Dividend Announcement

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

Insider Transactions at Vistance Networks

In related news, Director L William Krause sold 176,136 shares of Vistance Networks stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $6.75, for a total transaction of $1,188,918.00. Following the completion of the sale, the director owned 98,371 shares of the company’s stock, valued at $664,004.25. The trade was a 64.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Charles A. Gilstrap bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was purchased at an average price of $10.75 per share, for a total transaction of $107,500.00. Following the transaction, 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 3.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Zacks Research downgraded Vistance Networks from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Weiss Ratings cut Vistance Networks from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, August 17th. Finally, Wall Street Zen upgraded Vistance Networks from a “sell” rating to a “hold” rating in a research note on Sunday, August 30th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $19.33.

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.