Vistance Networks (NASDAQ:VISN) Hits New 1-Year Low – Here’s Why

Shares of Vistance Networks, Inc. (NASDAQ:VISN) reached a new 52-week low on Monday. The company traded as low as $5.99 and last traded at $5.9950, with a volume of 801166 shares changing hands. The stock had previously closed at $6.22.

Wall Street Analyst Weigh In

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

Vistance Networks Price Performance

The company has a market cap of $1.40 billion, a PE ratio of 0.20 and a beta of 2.39. The company has a 50-day moving average price of $9.41 and a two-hundred day moving average price of $12.74.

Vistance Networks Announces Dividend

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

Insider Activity at Vistance Networks

In related news, Director L. William Krause sold 23,864 shares of Vistance Networks stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $6.27, for a total transaction 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. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Charles A. Gilstrap acquired 10,000 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was acquired at an average price of $10.75 per share, for a total transaction of $107,500.00. Following the transaction, the chief accounting officer directly owned 302,417 shares of the company’s stock, valued at $3,250,982.75. This represents a 3.42% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Vistance Networks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Vistance Networks during the 2nd quarter valued at about $319,679,000. State Street Corp purchased a new position in Vistance Networks during the second quarter worth approximately $92,121,000. Bank of America Corp DE purchased a new position in shares of Vistance Networks during the 2nd quarter worth approximately $73,146,000. HighTower Advisors LLC acquired a new position in shares of Vistance Networks in the 2nd quarter valued at $34,338,000. Finally, Allianz Asset Management GmbH acquired a new stake in shares of Vistance Networks in the 2nd quarter worth $34,115,000. 88.04% of the stock is owned by hedge funds and other institutional investors.

Vistance Networks Company 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.