Key Points
- Director Claudius Iv Watts bought 200,000 shares for $832,000 at an average price of $4.16, increasing his ownership by 14.84% to 1,547,729 shares.
- Vistance Networks’ shares opened at $4.00, near their 52-week low of $3.90 and well below the 52-week high of $20.55; the stock was reported down 1.5%.
- The company paid a special dividend of $1.50 per share, down from its previous $5.00 payout. Analysts’ consensus rating is Hold, with a $15 average price target.
Vistance Networks, Inc. (NASDAQ:VISN - Get Free Report) Director Claudius Iv Watts acquired 25,000 shares of the company's stock in a transaction on Tuesday, November 10th. The shares were acquired at an average price of $3.93 per share, for a total transaction of $98,250.00. Following the completion of the acquisition, the director directly owned 1,572,729 shares in the company, valued at $6,180,824.97. The trade was a 1.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Vistance Networks Stock Down 1.5%
Shares of Vistance Networks stock opened at $4.00 on Friday. Vistance Networks, Inc. has a fifty-two week low of $3.90 and a fifty-two week high of $20.55. The firm has a market cap of $814.36 million, a P/E ratio of 0.11 and a beta of 2.57. The business has a 50-day moving average price of $6.07 and a 200 day moving average price of $12.40.
Vistance Networks Cuts Dividend
The company also recently declared a special dividend, which was paid on Friday, November 6th. Stockholders of record on Monday, October 26th were issued a dividend of $1.50 per share. This is a decrease from Vistance Networks's previous special dividend of $5.00.
Institutional Trading of Vistance Networks
Large investors have recently added to or reduced their stakes in the business. Persistent Asset Partners Ltd acquired a new stake in Vistance Networks in the 2nd quarter valued at approximately $29,000. Triumph Capital Management acquired a new position in Vistance Networks during the 2nd quarter worth $32,000. Meeder Asset Management Inc. boosted its position in Vistance Networks by 61.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 7,080 shares of the business services provider's stock worth $42,000 after acquiring an additional 2,686 shares during the period. First Bancorp Inc ME acquired a new position in Vistance Networks during the 2nd quarter worth $38,000. Finally, Pinnacle Holdings LLC bought a new position in shares of Vistance Networks in the second quarter worth $48,000. 88.04% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts recently weighed in on VISN shares. Northland Securities cut shares of Vistance Networks from an "outperform" rating to a "market perform" rating and set a $4.00 price objective on the stock. in a report on Tuesday. Wall Street Zen upgraded shares of Vistance Networks from a "sell" rating to a "hold" rating in a research report on Sunday, August 30th. Finally, 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. Five analysts have rated the stock with a Hold rating. According to MarketBeat.com, Vistance Networks currently has an average rating of "Hold" and an average target price of $15.00.
Check Out Our Latest Report on Vistance Networks
About Vistance Networks
(
Get Free Report)
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.
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