Engineers Gate Manager LP Invests $6.84 Million in Vistance Networks, Inc. $VISN

Engineers Gate Manager LP purchased a new stake in shares of Vistance Networks, Inc. (NASDAQ:VISN) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 535,003 shares of the business services provider’s stock, valued at approximately $6,837,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VISN. BlackRock Inc. bought a new position in Vistance Networks in the second quarter worth $319,679,000. Bank of America Corp DE purchased a new position in Vistance Networks during the second quarter valued at $73,146,000. California State Teachers Retirement System bought a new stake in shares of Vistance Networks during the 2nd quarter valued at $41,823,000. HighTower Advisors LLC bought a new stake in shares of Vistance Networks during the 2nd quarter valued at $34,338,000. Finally, Allianz Asset Management GmbH purchased a new stake in shares of Vistance Networks in the 2nd quarter worth about $34,115,000. 88.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Transactions at Vistance Networks

In other news, CAO Charles A. Gilstrap acquired 10,000 shares of Vistance Networks stock in a transaction on Monday, August 10th. The stock was acquired at an average cost of $10.75 per share, for a total transaction of $107,500.00. Following the purchase, the chief accounting officer owned 302,417 shares in the company, valued at $3,250,982.75. This trade represents a 3.42% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director L. William Krause sold 176,136 shares of the firm’s stock in a transaction dated Friday, August 28th. The shares were 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 approximately $664,004.25. This represents a 64.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 3.50% of the company’s stock.

Vistance Networks Trading Up 1.3%

Vistance Networks stock opened at $6.48 on Friday. The business’s fifty day simple moving average is $10.57 and its two-hundred day simple moving average is $13.57. Vistance Networks, Inc. has a 12 month low of $6.00 and a 12 month high of $20.55. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 0.21 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 $5.00 dividend. The ex-dividend date of this dividend was Friday, August 28th.

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.