Vistance Networks (NASDAQ:VISN) Shares Gap Down – What’s Next?

Vistance Networks, Inc. (NASDAQ:VISN) gapped down before the market opened on Monday. The stock had previously closed at $5.49, but opened at $4.10. Vistance Networks shares last traded at $4.1420, with a volume of 730,113 shares trading hands.

Analyst Ratings Changes

Several research firms have recently weighed in on VISN. Wall Street Zen upgraded Vistance Networks from a “sell” rating to a “hold” rating in a research note on Sunday, August 30th. Weiss Ratings cut Vistance Networks from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, August 17th. Four analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $19.33.

Vistance Networks Stock Down 23.8%

The firm has a market capitalization of $964.94 million, a P/E ratio of 0.12 and a beta of 2.57. The firm’s 50-day simple moving average is $6.24 and its 200-day simple moving average is $12.68.

Vistance Networks Cuts Dividend

The company also recently disclosed a special dividend, which was paid on Friday, November 6th. Stockholders of record on Monday, October 26th were given a dividend of $1.50 per share. This is a negative change from Vistance Networks’s previous special dividend of $5.00.

Insider Activity at Vistance Networks

In related news, Director L. William Krause sold 176,136 shares of Vistance Networks 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 transaction, the director owned 98,371 shares in the company, valued at $664,004.25. This trade represents a 64.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.50% of the company’s stock.

Institutional Trading of Vistance Networks

Several institutional investors have recently added to or reduced their stakes in VISN. Diversified Trust Co grew its stake in shares of Vistance Networks by 47.0% during the third quarter. Diversified Trust Co now owns 71,020 shares of the business services provider’s stock valued at $425,000 after buying an additional 22,695 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Vistance Networks by 4.9% in the third quarter. Russell Investments Group Ltd. now owns 396,030 shares of the business services provider’s stock worth $2,368,000 after buying an additional 18,648 shares during the period. Ritholtz Wealth Management lifted its stake in shares of Vistance Networks by 144.4% in the 3rd quarter. Ritholtz Wealth Management now owns 178,711 shares of the business services provider’s stock valued at $1,069,000 after acquiring an additional 105,598 shares during the last quarter. Jefferies Financial Group Inc. boosted its holdings in Vistance Networks by 110.0% during the 3rd quarter. Jefferies Financial Group Inc. now owns 84,000 shares of the business services provider’s stock valued at $502,000 after acquiring an additional 44,000 shares during the period. Finally, Fulcrum Asset Management LLP grew its position in Vistance Networks by 588.1% during the 3rd quarter. Fulcrum Asset Management LLP now owns 125,628 shares of the business services provider’s stock worth $746,000 after acquiring an additional 107,372 shares during the last quarter. 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.