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

Shares of Vistance Networks, Inc. (NASDAQ:VISN) hit a new 52-week low on Tuesday. The stock traded as low as $5.76 and last traded at $5.8350, with a volume of 167,726 shares. The stock had previously closed at $5.82.

Wall Street Analysts Forecast Growth

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

Vistance Networks Stock Performance

The firm has a market cap of $1.38 billion, a PE ratio of 0.19 and a beta of 2.38. The stock has a fifty day moving average price of $7.57 and a 200-day moving average price of $11.41.

Vistance Networks Cuts Dividend

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

Insider Activity at Vistance Networks

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

Institutional Trading of Vistance Networks

Large investors have recently added to or reduced their stakes in the stock. Persistent Asset Partners Ltd acquired a new position in shares of Vistance Networks during the second quarter worth about $29,000. Triumph Capital Management purchased a new stake in shares of Vistance Networks in the second quarter worth about $32,000. First Bancorp Inc ME acquired a new stake in shares of Vistance Networks in the second quarter valued at about $38,000. Pinnacle Holdings LLC acquired a new stake in shares of Vistance Networks in the second quarter valued at about $48,000. Finally, Nykredit A S acquired a new stake in shares of Vistance Networks in the second quarter valued at about $54,000. 88.04% of the stock is currently owned by institutional investors and hedge funds.

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.