Vistance Networks (NASDAQ:VISN) Stock: Insider Claudius Iv Watts Acquires 25,000 Shares

Vistance Networks, Inc. (NASDAQ:VISN) Director Claudius Iv Watts purchased 25,000 shares of the business’s stock in a transaction on Tuesday, November 10th. The stock was acquired at an average price of $3.93 per share, for a total transaction of $98,250.00. Following the completion of the purchase, the director owned 1,572,729 shares of the company’s stock, valued at $6,180,824.97. This represents a 1.62% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Vistance Networks Stock Performance

NASDAQ VISN traded down $0.06 during trading on Thursday, reaching $4.00. 7,564,426 shares of the company’s stock were exchanged, compared to its average volume of 7,376,198. The company has a 50 day moving average price of $6.07 and a two-hundred day moving average price of $12.40. The stock has a market cap of $814.36 million, a P/E ratio of 0.11 and a beta of 2.57. Vistance Networks, Inc. has a 1 year low of $3.90 and a 1 year high of $20.55.

Vistance Networks Cuts Dividend

The firm also recently declared a special dividend, which was paid on Friday, November 6th. Investors of record on Monday, October 26th were issued a $1.50 dividend. This is a decrease from Vistance Networks’s previous special dividend of $5.00.

Analysts Set New Price Targets

VISN has been the topic of several recent analyst reports. 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. Wall Street Zen raised shares of Vistance Networks from a “sell” rating to a “hold” rating in a report on Sunday, August 30th. Finally, Northland Securities downgraded shares of Vistance Networks from an “outperform” rating to a “market perform” rating and set a $4.00 price objective for the company. in a research report on Tuesday. Five analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $15.00.

Hedge Funds Weigh In On Vistance Networks

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Vistance Networks during the second quarter worth about $319,679,000. First Trust Advisors LP lifted its holdings in shares of Vistance Networks by 1,358.6% in the 3rd quarter. First Trust Advisors LP now owns 14,520,886 shares of the business services provider’s stock valued at $86,835,000 after purchasing an additional 13,525,341 shares during the last quarter. State Street Corp purchased a new stake in shares of Vistance Networks in the 2nd quarter valued at about $92,121,000. Bank of America Corp DE purchased a new stake in shares of Vistance Networks in the 2nd quarter valued at about $73,146,000. Finally, HighTower Advisors LLC acquired a new stake in shares of Vistance Networks in the 2nd quarter valued at about $34,338,000. Hedge funds and other institutional investors own 88.04% of the company’s stock.

About Vistance Networks

Vistance Networks develops and supplies communications technology for satellite, space, terrestrial and wireless networks. Its offerings include satellite modems and ground-station equipment, radio-frequency systems, and troposcatter communications technology used to connect networks where conventional infrastructure may be limited. The company also provides public-safety communications solutions, including technology for emergency calling, call handling and location services. Its customers include government and defense organizations, satellite and telecommunications operators, and public-safety agencies.