Vistance Networks (NASDAQ:VISN) Reaches New 1-Year Low – Should You Sell?

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

Wall Street Analysts Forecast Growth

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

Vistance Networks Price Performance

The stock’s 50-day moving average is $7.35 and its 200 day moving average is $11.24. The company has a market cap of $1.41 billion, a PE ratio of 0.20 and a beta of 2.38.

Vistance Networks Cuts Dividend

The company also recently declared a special dividend, which will be paid on Friday, November 6th. Shareholders of record on Monday, October 26th will be issued a $1.50 dividend. This is a negative change from Vistance Networks’s previous special dividend of $5.00.

Insiders Place Their Bets

In other news, Director L. William Krause sold 176,136 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $6.75, for a total value of $1,188,918.00. Following the completion of the sale, the director owned 98,371 shares of the company’s stock, valued at $664,004.25. This trade represents a 64.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Charles A. Gilstrap acquired 10,000 shares of the stock in a transaction dated Monday, August 10th. The stock was acquired at an average cost of $10.75 per share, with a total value of $107,500.00. Following the transaction, 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Algert Global LLC grew its position in Vistance Networks by 531.5% during the 2nd quarter. Algert Global LLC now owns 574,865 shares of the business services provider’s stock worth $7,347,000 after purchasing an additional 483,840 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Vistance Networks in the 2nd quarter valued at $10,674,000. HighTower Advisors LLC acquired a new position in shares of Vistance Networks in the 2nd quarter valued at $34,338,000. Legal & General Group Plc purchased a new position in Vistance Networks in the 2nd quarter worth $2,610,000. Finally, State Street Corp acquired a new stake in Vistance Networks during the 2nd quarter worth about $92,121,000. 88.04% of the stock is 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.