Legal & General Group Plc Acquires Shares of 204,258 Vistance Networks, Inc. $VISN

Legal & General Group Plc acquired a new stake in Vistance Networks, Inc. (NASDAQ:VISN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 204,258 shares of the business services provider’s stock, valued at approximately $2,610,000. Legal & General Group Plc owned 0.09% of Vistance Networks at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of VISN. Algert Global LLC grew its stake in Vistance Networks by 531.5% in the 2nd quarter. Algert Global LLC now owns 574,865 shares of the business services provider’s stock valued at $7,347,000 after buying an additional 483,840 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Vistance Networks during the second quarter worth approximately $10,674,000. BlackRock Inc. bought a new stake in shares of Vistance Networks during the second quarter worth approximately $319,679,000. GSA Capital Partners LLP bought a new stake in shares of Vistance Networks during the second quarter worth approximately $2,374,000. Finally, Deutsche Bank AG acquired a new position in shares of Vistance Networks in the second quarter valued at approximately $4,662,000. Institutional investors and hedge funds own 88.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Wall Street Zen upgraded Vistance Networks from a “sell” rating to a “hold” rating in a research note on Sunday, August 30th. Zacks Research lowered Vistance Networks from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 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 analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $19.33.

Vistance Networks Trading Up 0.5%

Shares of VISN stock opened at $6.40 on Friday. The stock has a market cap of $1.48 billion, a P/E ratio of 0.21 and a beta of 2.39. The stock has a 50 day simple moving average of $11.17 and a 200 day simple moving average of $14.01. Vistance Networks, Inc. has a 1 year low of $6.00 and a 1 year high of $20.55.

Vistance Networks Announces Dividend

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

Insiders Place Their Bets

In related news, CAO Charles A. Gilstrap bought 10,000 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was purchased at an average cost of $10.75 per share, for a total transaction of $107,500.00. Following the transaction, the chief accounting officer owned 302,417 shares in the company, valued at $3,250,982.75. The trade was a 3.42% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director L William Krause sold 23,864 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $6.27, for a total value of $149,627.28. Following the sale, the director directly owned 74,507 shares in the company, valued at approximately $467,158.89. This trade represents a 24.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.50% 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.