Vistance Networks (NASDAQ:VISN) Reaches New 52-Week Low – What’s Next?

Vistance Networks, Inc. (NASDAQ:VISN) shares reached a new 52-week low during 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 trading hands. The stock had previously closed at $6.12.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Weiss Ratings lowered Vistance Networks from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, August 17th. Wall Street Zen upgraded Vistance Networks from a “sell” rating to a “hold” rating in a report on Sunday, August 30th. Finally, Zacks Research downgraded 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, Vistance Networks has an average rating of “Hold” and an average price target of $19.33.

Vistance Networks Price Performance

The stock has a market capitalization of $1.36 billion, a P/E ratio of 0.19 and a beta of 2.38. The stock’s fifty day moving average price is $8.00 and its 200 day moving average price is $11.75.

Vistance Networks Dividend Announcement

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

Insider Activity

In related news, CAO Charles A. Gilstrap bought 10,000 shares of the company’s stock in a transaction on Monday, August 10th. The shares were acquired at an average cost of $10.75 per share, for a total transaction of $107,500.00. Following the purchase, the chief accounting officer directly owned 302,417 shares of the company’s stock, valued at approximately $3,250,982.75. The trade was a 3.42% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director L. William Krause sold 23,864 shares of the firm’s stock in a transaction that occurred 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 transaction, the director directly owned 74,507 shares in the company, valued at approximately $467,158.89. This trade represents a 24.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of VISN. Algert Global LLC raised its holdings in shares of Vistance Networks by 531.5% in the second quarter. Algert Global LLC now owns 574,865 shares of the business services provider’s stock valued at $7,347,000 after acquiring an additional 483,840 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Vistance Networks during the 2nd quarter worth about $10,674,000. HighTower Advisors LLC bought a new position in Vistance Networks during the 2nd quarter worth about $34,338,000. Legal & General Group Plc bought a new position in Vistance Networks during the 2nd quarter worth about $2,610,000. Finally, State Street Corp bought a new position in Vistance Networks during the 2nd quarter worth about $92,121,000. 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.