Vistance Networks (NASDAQ:VISN) Reaches New 52-Week Low – Here’s What Happened

Vistance Networks, Inc. (NASDAQ:VISN)’s stock price hit a new 52-week low on Thursday. The stock traded as low as $5.89 and last traded at $5.8950, with a volume of 1612762 shares trading hands. The stock had previously closed at $6.07.

Analysts Set New Price Targets

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

Vistance Networks Stock Down 2.7%

The company has a market capitalization of $1.36 billion, a PE ratio of 0.19 and a beta of 2.38. The stock’s fifty day simple moving average is $8.48 and its 200-day simple moving average is $12.09.

Vistance Networks Dividend Announcement

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

Insider Buying and Selling at Vistance Networks

In other news, CAO Charles A. Gilstrap bought 10,000 shares of the stock in a transaction on Monday, August 10th. The shares were bought at an average price of $10.75 per share, with a total value of $107,500.00. Following the completion of the acquisition, the chief accounting officer owned 302,417 shares of the company’s stock, valued at approximately $3,250,982.75. This trade represents a 3.42% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director L. William Krause sold 176,136 shares of the firm’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $6.75, for a total value of $1,188,918.00. Following the completion of the transaction, 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 position. The SEC filing for this sale provides additional information. Insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Vistance Networks

Institutional investors and hedge funds have recently made changes to their positions in the business. Persistent Asset Partners Ltd acquired a new stake in Vistance Networks in the 2nd quarter valued at about $29,000. Triumph Capital Management acquired a new position in Vistance Networks during 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 approximately $38,000. Pinnacle Holdings LLC acquired a new position in shares of Vistance Networks during the 2nd quarter worth approximately $48,000. Finally, Nykredit A S purchased a new stake in Vistance Networks in the 2nd quarter valued at approximately $54,000. 88.04% of the stock is currently 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.