Vistance Networks (NASDAQ:VISN) Stock Price Up 5.5% – Should You Buy?

Vistance Networks, Inc. (NASDAQ:VISN) shares rose 5.5% during trading on Monday . The stock traded as high as $6.36 and last traded at $6.3910. Approximately 1,784,479 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 6,225,568 shares. The stock had previously closed at $6.06.

Wall Street Analyst Weigh In

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

Vistance Networks Price Performance

The company’s 50 day moving average is $11.54 and its 200 day moving average is $14.24. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 0.20 and a beta of 2.39.

Vistance Networks Dividend Announcement

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

Insider Buying and Selling

In other news, Director L William Krause sold 176,136 shares of the business’s stock in a transaction that occurred on 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Charles A. Gilstrap purchased 10,000 shares of the 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 acquisition, the chief accounting officer owned 302,417 shares in the company, valued at approximately $3,250,982.75. This trade represents a 3.42% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 3.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Vistance Networks

Several hedge funds have recently added to or reduced their stakes in VISN. BlackRock Inc. acquired a new position in Vistance Networks during the second quarter worth about $319,679,000. Bank of America Corp DE purchased a new position in shares of Vistance Networks during the 2nd quarter worth approximately $73,146,000. California State Teachers Retirement System acquired a new position in shares of Vistance Networks during the 2nd quarter worth approximately $41,823,000. HighTower Advisors LLC acquired a new position in shares of Vistance Networks during the 2nd quarter worth approximately $34,338,000. Finally, Hennessy Advisors Inc. purchased a new stake in Vistance Networks in the 2nd quarter valued at approximately $28,614,000. 88.04% of the stock is currently owned by hedge funds and other institutional investors.

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.