Vistance Networks (NASDAQ:VISN) Director Claudius Iv Watts Buys 200,000 Shares of Company Stock

Vistance Networks, Inc. (NASDAQ:VISN) Director Claudius Iv Watts acquired 200,000 shares of the company’s stock in a transaction on Monday, November 9th. The stock was purchased at an average cost of $4.16 per share, for a total transaction of $832,000.00. Following the completion of the transaction, the director owned 1,547,729 shares in the company, valued at approximately $6,438,552.64. The trade was a 14.84% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Vistance Networks Trading Down 1.5%

Shares of VISN opened at $4.00 on Friday. The firm has a market capitalization of $814.36 million, a price-to-earnings ratio of 0.11 and a beta of 2.57. The firm’s fifty day simple moving average is $6.07 and its 200-day simple moving average is $12.40. Vistance Networks, Inc. has a twelve month low of $3.90 and a twelve month high of $20.55.

Vistance Networks Cuts Dividend

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

Analysts Set New Price Targets

A number of analysts have issued reports on VISN shares. Northland Securities downgraded Vistance Networks from an “outperform” rating to a “market perform” rating and set a $4.00 price target for the company. in a report on Tuesday. Weiss Ratings downgraded Vistance Networks from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, August 17th. Finally, Wall Street Zen raised Vistance Networks from a “sell” rating to a “hold” rating in a research report on Sunday, August 30th. Five research analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $15.00.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of VISN. First Trust Advisors LP increased its holdings in shares of Vistance Networks by 1,358.6% in the third 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 period. State Street Corp grew its position in Vistance Networks by 10.6% in the 3rd quarter. State Street Corp now owns 7,970,687 shares of the business services provider’s stock valued at $47,665,000 after buying an additional 762,468 shares during the last quarter. Private Advisor Group LLC purchased a new position in Vistance Networks in the 3rd quarter valued at $82,000. Meeder Asset Management Inc. grew its position in Vistance Networks by 61.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 7,080 shares of the business services provider’s stock valued at $42,000 after buying an additional 2,686 shares during the last quarter. Finally, Public Sector Pension Investment Board acquired a new position in Vistance Networks in the 3rd quarter valued at $3,354,000. 88.04% of the stock is currently owned by institutional investors and hedge funds.

Vistance Networks Company Profile

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.