The Manufacturers Life Insurance Company Makes New Investment in Vistance Networks, Inc. $VISN

The Manufacturers Life Insurance Company purchased a new position in Vistance Networks, Inc. (NASDAQ:VISN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 113,770 shares of the business services provider’s stock, valued at approximately $1,454,000.

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

Analyst Ratings Changes

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

Insider Activity

In other news, Director L William Krause sold 176,136 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $6.75, for a total transaction of $1,188,918.00. Following the transaction, the director owned 98,371 shares of the company’s stock, valued at $664,004.25. This represents a 64.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Charles A. Gilstrap bought 10,000 shares of Vistance Networks stock in a transaction dated Monday, August 10th. The stock was purchased at an average price of $10.75 per share, with a total value of $107,500.00. Following the completion of the purchase, the chief accounting officer 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 disclosure for this purchase is available in the SEC filing. 3.50% of the stock is currently owned by corporate insiders.

Vistance Networks Stock Down 1.5%

Shares of NASDAQ VISN opened at $6.37 on Friday. The firm has a market cap of $1.47 billion, a PE ratio of 0.21 and a beta of 2.39. Vistance Networks, Inc. has a 12-month low of $6.00 and a 12-month high of $20.55. The company’s fifty day simple moving average is $11.29 and its 200 day simple moving average is $14.06.

Vistance Networks Announces Dividend

The business also recently disclosed a dividend, which was paid on Thursday, August 27th. Stockholders of record on Monday, August 17th were issued a dividend of $5.00 per share. The ex-dividend date was Friday, August 28th.

Vistance Networks 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.