Galaxy Digital Inc. Purchases Shares of 150,000 Vistance Networks, Inc. $VISN

Galaxy Digital Inc. acquired a new position in shares of Vistance Networks, Inc. (NASDAQ:VISN) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 150,000 shares of the business services provider’s stock, valued at approximately $1,917,000. Vistance Networks makes up about 0.1% of Galaxy Digital Inc.’s portfolio, making the stock its 23rd largest holding.

A number of other large investors have also recently made changes to their positions in VISN. Persistent Asset Partners Ltd acquired a new position in shares of Vistance Networks during the second quarter valued at about $29,000. Pinnacle Holdings LLC acquired a new stake in shares of Vistance Networks in the 2nd quarter worth about $48,000. Meeder Asset Management Inc. acquired a new stake in shares of Vistance Networks in the 2nd quarter worth about $56,000. C M Bidwell & Associates Ltd. bought a new position in Vistance Networks in the 2nd quarter valued at about $76,000. Finally, Quantbot Technologies LP bought a new position in Vistance Networks in the 2nd quarter valued at about $150,000. 88.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on VISN. Zacks Research downgraded Vistance Networks from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Northland Securities set a $17.00 price objective on Vistance Networks in a research note on Friday, May 1st. Weiss Ratings lowered Vistance Networks from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, August 17th. Finally, Wall Street Zen cut Vistance Networks from a “hold” rating to a “sell” rating in a research report on Saturday. Four analysts have rated the stock with a Hold rating, According to MarketBeat, Vistance Networks presently has a consensus rating of “Hold” and a consensus price target of $19.33.

Insider Buying and Selling

In other Vistance Networks news, CAO Charles A. Gilstrap acquired 10,000 shares of the business’s stock in a transaction on Monday, August 10th. The shares were acquired 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 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 document filed with the SEC, which is accessible through this link. Company insiders own 3.50% of the company’s stock.

Vistance Networks Stock Down 3.3%

Vistance Networks stock opened at $10.84 on Tuesday. Vistance Networks, Inc. has a 52 week low of $9.47 and a 52 week high of $20.55. The company’s 50 day moving average price is $12.01 and its two-hundred day moving average price is $14.66. The stock has a market cap of $2.50 billion, a P/E ratio of 0.35 and a beta of 2.36.

Vistance Networks Announces Dividend

The firm also recently declared a dividend, which will be paid on Thursday, August 27th. Investors of record on Monday, August 17th will be issued a dividend of $5.00 per share. The ex-dividend date is Friday, August 28th.

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.