Vistance Networks, Inc. (VISN) to Distribute Special Dividend of $1.50 on November 6th

Vistance Networks, Inc. (NASDAQ:VISN) declared a special dividend on Wednesday, October 14th. Stockholders of record on Monday, October 26th will be paid a dividend of $1.50 per share by the business services provider on Friday, November 6th. The ex-dividend date is Monday, November 9th. This is a 70.0% decrease from Vistance Networks’s previous special dividend of $5.00.

Vistance Networks Price Performance

Vistance Networks stock traded up $0.08 during trading hours on Friday, hitting $5.49. The company had a trading volume of 8,713,025 shares, compared to its average volume of 5,442,267. The firm has a market capitalization of $1.27 billion, a P/E ratio of 0.16 and a beta of 2.57. The firm’s fifty day moving average is $6.24 and its 200-day moving average is $12.68. Vistance Networks has a fifty-two week low of $5.33 and a fifty-two week high of $20.55.

Insiders Place Their Bets

In related news, CAO Charles A. Gilstrap purchased 10,000 shares of Vistance Networks stock in a transaction on Monday, August 10th. The stock was purchased at an average cost of $10.75 per share, with a total value of $107,500.00. Following the acquisition, the chief accounting officer directly owned 302,417 shares in the company, 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 SEC, which is accessible through this link. Also, Director L. William Krause sold 23,864 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $6.27, for a total transaction of $149,627.28. Following the completion of the sale, the director owned 74,507 shares in the company, valued at $467,158.89. This represents a 24.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Vistance Networks

Several hedge funds have recently made changes to their positions in the stock. Persistent Asset Partners Ltd bought a new position in Vistance Networks during the second quarter valued at about $29,000. Triumph Capital Management bought a new stake in shares of Vistance Networks in the 2nd quarter worth approximately $32,000. First Bancorp Inc ME acquired a new stake in shares of Vistance Networks during the 2nd quarter worth approximately $38,000. Pinnacle Holdings LLC acquired a new stake in shares of Vistance Networks during the 2nd quarter worth approximately $48,000. Finally, Nykredit A S acquired a new stake in shares of Vistance Networks during the 2nd quarter worth approximately $54,000. Institutional investors own 88.04% of the company’s stock.

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.