Vistance Networks (NASDAQ:VISN) Upgraded to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Vistance Networks from “Sell” to “Hold.” Other analysts have also moved toward neutral ratings, giving the stock an average consensus rating of “Hold” and a price target of $19.33.
• VISN shares opened at $6.06, near their 52-week low of $6.00, and have fallen 47.9%; the stock’s 50-day and 200-day moving averages are $11.80 and $14.46, respectively.
• Institutional ownership stands at 88.04%, with major investors including BlackRock and Bank of America establishing new positions. Separately, a company chief accounting officer bought 10,000 shares at $10.75 each.

Vistance Networks (NASDAQ:VISN - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Sunday.

A number of other research analysts have also issued reports on the stock. 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. Zacks Research lowered shares of Vistance Networks from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 30th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $19.33.

Vistance Networks Stock Down 47.9%

Shares of VISN opened at $6.06 on Friday. Vistance Networks has a 52-week low of $6.00 and a 52-week high of $20.55. The business's 50 day moving average is $11.80 and its two-hundred day moving average is $14.46. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 0.20 and a beta of 2.36.

Insider Activity

In other Vistance Networks news, CAO Charles A. Gilstrap acquired 10,000 shares of Vistance Networks stock in a transaction dated Monday, August 10th. The stock was bought at an average cost of $10.75 per share, with a total value of $107,500.00. Following the acquisition, the chief accounting officer owned 302,417 shares of the company's stock, valued at approximately $3,250,982.75. The trade was a 3.42% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.50% of the company's stock.

Institutional Investors Weigh In On Vistance Networks

Several large investors have recently modified their holdings of VISN. BlackRock Inc. acquired a new stake in Vistance Networks in the 2nd quarter valued at $319,679,000. Bank of America Corp DE acquired a new stake in shares of Vistance Networks during the 2nd quarter worth about $73,146,000. California State Teachers Retirement System bought a new stake in Vistance Networks during the second quarter worth about $41,823,000. HighTower Advisors LLC acquired a new stake in shares of Vistance Networks during the second quarter worth approximately $34,338,000. Finally, Hennessy Advisors Inc. bought a new stake in Vistance Networks during the 2nd quarter worth approximately $28,614,000. 88.04% of the stock is currently 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.

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