Vistance Networks (NASDAQ:VISN) Shares Gap Up on Insider Buying Activity

Shares of Vistance Networks, Inc. (NASDAQ:VISN) gapped up before the market opened on Friday after an insider bought additional shares in the company. The stock had previously closed at $4.00, but opened at $4.22. Vistance Networks shares last traded at $4.1110, with a volume of 740,223 shares trading hands.

Specifically, Director Claudius Watts, IV acquired 200,000 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The shares were acquired at an average price of $4.16 per share, with a total value of $832,000.00. Following the completion of the purchase, the director directly owned 1,547,729 shares of the company’s stock, valued at approximately $6,438,552.64. The trade was a 14.84% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Claudius Watts, IV acquired 25,000 shares of the business’s stock in a transaction on Thursday, November 12th. The stock was acquired at an average price of $4.00 per share, for a total transaction of $100,000.00. Following the acquisition, the director owned 1,597,729 shares of the company’s stock, valued at approximately $6,390,916. This trade represents a 1.59% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In other Vistance Networks news, Director Claudius Watts, IV bought 25,000 shares of the firm’s stock in a transaction on Tuesday, November 10th. The stock was acquired at an average price of $3.93 per share, with a total value of $98,250.00. Following the completion of the purchase, the director owned 1,572,729 shares of the company’s stock, valued at approximately $6,180,824.97. This trade represents a 1.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Vistance Networks from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, August 17th. Northland Securities downgraded Vistance Networks from an “outperform” rating to a “market perform” rating and set a $4.00 price target on the stock. in a research note on Tuesday. Finally, Wall Street Zen raised Vistance Networks from a “sell” rating to a “hold” rating in a research report on Sunday, August 30th. Five research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $15.00.

Vistance Networks Trading Up 2.1%

The company has a market cap of $831.67 million, a P/E ratio of 0.12 and a beta of 2.57. The stock’s 50 day moving average is $6.07 and its 200-day moving average is $12.40.

Vistance Networks Cuts Dividend

The company also recently announced a special dividend, which was paid on Friday, November 6th. Shareholders of record on Monday, October 26th were issued a $1.50 dividend. This is a drop from Vistance Networks’s previous special dividend of $5.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Persistent Asset Partners Ltd bought a new position in shares of Vistance Networks in the second quarter worth approximately $29,000. Triumph Capital Management purchased a new stake in shares of Vistance Networks during the second quarter valued at approximately $32,000. SBI Securities Co. Ltd. increased its position in shares of Vistance Networks by 408.3% during the third quarter. SBI Securities Co. Ltd. now owns 6,145 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 4,936 shares in the last quarter. First Bancorp Inc ME bought a new stake in shares of Vistance Networks during the second quarter valued at approximately $38,000. Finally, Meeder Asset Management Inc. increased its position in shares of Vistance Networks by 61.1% during the third quarter. Meeder Asset Management Inc. now owns 7,080 shares of the business services provider’s stock valued at $42,000 after acquiring an additional 2,686 shares in the last quarter. 88.04% of the stock is owned by hedge funds and other institutional investors.

Vistance Networks Company Profile

Vistance Networks develops and supplies communications technology for satellite, space, terrestrial and wireless networks. Its offerings include satellite modems and ground-station equipment, radio-frequency systems, and troposcatter communications technology used to connect networks where conventional infrastructure may be limited. The company also provides public-safety communications solutions, including technology for emergency calling, call handling and location services. Its customers include government and defense organizations, satellite and telecommunications operators, and public-safety agencies.