Key Points
- Insider purchase: Chief Accounting Officer Charles Gilstrap bought 10,000 VISN shares at $10.75 each for $107,500, increasing his holdings by 3.42% to 302,417 shares.
- Dividend announcement: Vistance Networks declared a $5.00-per-share dividend payable August 27 to shareholders of record as of August 17.
- Market outlook: The stock opened at $11.58, near its one-year low of $9.47, while analysts maintain a consensus “Hold” rating with a $19.33 target price. Institutional investors own 88.04% of the company.
Vistance Networks, Inc. (NASDAQ:VISN - Get Free Report) CAO Charles Gilstrap purchased 10,000 shares of the company's stock in a transaction that occurred on Monday, August 10th. The stock was acquired at an average price of $10.75 per share, for a total transaction of $107,500.00. Following 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 position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Vistance Networks Price Performance
Shares of Vistance Networks stock opened at $11.58 on Thursday. The business has a fifty day simple moving average of $12.17 and a two-hundred day simple moving average of $15.05. Vistance Networks, Inc. has a 1 year low of $9.47 and a 1 year high of $20.55. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 0.38 and a beta of 2.36.
Vistance Networks Dividend Announcement
The business also recently announced a dividend, which will be paid on Thursday, August 27th. Stockholders of record on Monday, August 17th will be paid a dividend of $5.00 per share. The ex-dividend date is Monday, August 17th.
Institutional Investors Weigh In On Vistance Networks
Several institutional investors have recently made changes to their positions in VISN. Pinnacle Holdings LLC acquired a new stake in Vistance Networks during the second quarter worth approximately $48,000. Quantbot Technologies LP acquired a new position in Vistance Networks in the 2nd quarter valued at $150,000. Evolve Private Wealth LLC bought a new stake in shares of Vistance Networks during the 2nd quarter valued at $466,000. BlackRock Inc. bought a new stake in shares of Vistance Networks during the 2nd quarter valued at $319,679,000. Finally, Deutsche Bank AG acquired a new stake in shares of Vistance Networks during the 2nd quarter worth $4,662,000. 88.04% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
VISN has been the topic of several research analyst reports. Zacks Research cut shares of Vistance Networks from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 30th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Vistance Networks in a research note on Monday, August 3rd. Northland Securities set a $17.00 price target on Vistance Networks in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. decreased their price objective on Vistance Networks from $24.00 to $21.00 and set a "neutral" rating on the stock in a report on Thursday, April 16th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, Vistance Networks presently has a consensus rating of "Hold" and a consensus target price of $19.33.
View Our Latest Research Report on VISN
About Vistance Networks
(
Get Free Report)
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.
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