Key Points
- Director L. William Krause sold 176,136 VISN shares at an average price of $6.75, generating approximately $1.19 million. The sale reduced his holdings by 64.16%, leaving him with 98,371 shares.
- Vistance Networks shares opened at $6.22 and were down 1.4%, near the company’s 12-month low of $6.00. Institutional investors own approximately 88.04% of the outstanding stock.
- Analysts maintain a consensus “Hold” rating, with an average price target of $19.33; recent reports included downgrades from Zacks Research and Weiss Ratings.
Vistance Networks, Inc. (NASDAQ:VISN - Get Free Report) Director L William Krause sold 176,136 shares of the firm's stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $6.75, for a total value of $1,188,918.00. Following the completion of the transaction, the director owned 98,371 shares of the company's stock, valued at approximately $664,004.25. The trade was a 64.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Vistance Networks Stock Down 1.4%
NASDAQ VISN opened at $6.22 on Wednesday. The firm has a market capitalization of $1.43 billion, a PE ratio of 0.20 and a beta of 2.39. The stock's 50 day moving average is $11.54 and its 200 day moving average is $14.24. Vistance Networks, Inc. has a twelve month low of $6.00 and a twelve month high of $20.55.
Vistance Networks Announces Dividend
The firm also recently announced 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.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. Persistent Asset Partners Ltd purchased a new stake in shares of Vistance Networks during the second quarter valued at approximately $29,000. Triumph Capital Management bought a new stake in shares of Vistance Networks during the second quarter valued at approximately $32,000. First Bancorp Inc ME purchased a new position in Vistance Networks in the 2nd quarter worth approximately $38,000. Pinnacle Holdings LLC bought a new position in Vistance Networks in the 2nd quarter valued at approximately $48,000. Finally, Nykredit A S bought a new position in Vistance Networks in the 2nd quarter valued at approximately $54,000. Institutional investors own 88.04% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on VISN. Zacks Research lowered shares of Vistance Networks from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 30th. Weiss Ratings lowered shares of Vistance Networks from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, August 17th. Finally, Wall Street Zen upgraded shares of Vistance Networks from a "sell" rating to a "hold" rating in a report on Sunday. Four investment 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 $19.33.
Get Our Latest Analysis on Vistance Networks
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
