Vistance Networks (NASDAQ:VISN) Sets New 12-Month Low – Here’s What Happened

Vistance Networks, Inc. (NASDAQ:VISN) shares hit a new 52-week low during mid-day trading on Wednesday. The company traded as low as $5.85 and last traded at $5.8750, with a volume of 4,048,027 shares changing hands. The stock had previously closed at $6.12.

Wall Street Analyst Weigh In

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

Vistance Networks Price Performance

The stock has a 50 day moving average price of $7.79 and a 200-day moving average price of $11.58. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 5.22 and a beta of 2.38.

Vistance Networks Cuts Dividend

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

Insider Buying and Selling at Vistance Networks

In other news, CAO Charles A. Gilstrap bought 10,000 shares of the business’s 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 transaction, the chief accounting officer directly owned 302,417 shares in the company, valued at $3,250,982.75. This trade represents a 3.42% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director L. William Krause sold 176,136 shares of Vistance Networks stock in a transaction dated 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 directly owned 98,371 shares of the company’s stock, valued at approximately $664,004.25. This represents a 64.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of Vistance Networks during the second quarter worth $319,679,000. State Street Corp acquired a new position in Vistance Networks during the 2nd quarter worth approximately $92,121,000. Bank of America Corp DE acquired a new position in shares of Vistance Networks during the 2nd quarter worth $73,146,000. HighTower Advisors LLC acquired a new position in shares of Vistance Networks during the 2nd quarter worth $34,338,000. Finally, Allianz Asset Management GmbH purchased a new position in Vistance Networks during the second quarter worth $34,115,000. 88.04% of the stock is owned by institutional investors and hedge funds.

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.