Vistance Networks (NASDAQ:VISN) Sets New 1-Year Low – What’s Next?

Vistance Networks, Inc. (NASDAQ:VISN)’s stock price reached a new 52-week low during mid-day trading on Monday. The stock traded as low as $5.99 and last traded at $5.9950, with a volume of 801166 shares traded. The stock had previously closed at $6.22.

Wall Street Analysts Forecast Growth

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

Vistance Networks Stock Performance

The stock has a market capitalization of $1.40 billion, a PE ratio of 0.20 and a beta of 2.39. The stock’s 50-day moving average price is $9.41 and its two-hundred day moving average price is $12.74.

Vistance Networks Dividend Announcement

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

Insiders Place Their Bets

In other news, Director L. William Krause sold 176,136 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $6.75, for a total transaction 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Charles A. Gilstrap acquired 10,000 shares of Vistance Networks stock in a transaction on Monday, August 10th. The shares were purchased at an average cost of $10.75 per share, with a total value of $107,500.00. Following the completion of the purchase, the chief accounting officer directly owned 302,417 shares of the company’s stock, valued at approximately $3,250,982.75. This represents a 3.42% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 3.50% of the company’s stock.

Institutional Trading of Vistance Networks

Several institutional investors and hedge funds have recently added to or reduced their stakes in VISN. Envestnet Asset Management Inc. acquired a new stake in shares of Vistance Networks in the second quarter valued at approximately $255,000. State Street Corp bought a new position in Vistance Networks during the 2nd quarter worth $92,121,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Vistance Networks in the 2nd quarter valued at $1,454,000. Tidal Investments LLC bought a new position in Vistance Networks in the 2nd quarter valued at approximately $2,556,000. Finally, Engineers Gate Manager LP bought a new position in Vistance Networks in the second quarter valued at about $6,837,000. 88.04% of the stock is owned by institutional investors.

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.