2,686,869 Shares in Vistance Networks, Inc. $VISN Purchased by HighTower Advisors LLC

Key Points

• HighTower Advisors acquired 2.69 million Vistance Networks shares worth approximately $34.3 million, giving it a 1.17% stake. Institutional investors collectively own 88.04% of the company, with BlackRock holding a newly reported position valued at $319.7 million.
• VISN shares opened at $6.47, near their 52-week low of $6.00 and well below the 52-week high of $20.55. The company also paid a recently declared $5.00 dividend per share.
• Analysts maintain a consensus Hold rating, with an average price target of $19.33. Insider activity was mixed, as the chief accounting officer bought shares while a director sold part of his position.

HighTower Advisors LLC purchased a new stake in shares of Vistance Networks, Inc. (NASDAQ:VISN - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,686,869 shares of the business services provider's stock, valued at approximately $34,338,000. HighTower Advisors LLC owned 1.17% of Vistance Networks at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of VISN. BlackRock Inc. purchased a new stake in Vistance Networks in the second quarter worth $319,679,000. Bank of America Corp DE bought a new position in Vistance Networks in the 2nd quarter worth $73,146,000. California State Teachers Retirement System purchased a new stake in shares of Vistance Networks in the 2nd quarter worth about $41,823,000. Hennessy Advisors Inc. purchased a new stake in shares of Vistance Networks in the 2nd quarter worth about $28,614,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Vistance Networks during the 2nd quarter valued at about $10,674,000. Hedge funds and other institutional investors own 88.04% of the company's stock.

Vistance Networks Price Performance

Shares of Vistance Networks stock opened at $6.47 on Wednesday. Vistance Networks, Inc. has a 1 year low of $6.00 and a 1 year high of $20.55. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 0.21 and a beta of 2.39. The company has a 50-day moving average of $10.92 and a 200 day moving average of $13.79.

Vistance Networks Dividend Announcement

The business also recently declared a dividend, which was paid on Thursday, August 27th. Stockholders of record on Monday, August 17th were given a $5.00 dividend. The ex-dividend date of this dividend was Friday, August 28th.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Zacks Research downgraded shares of Vistance Networks from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 30th. Weiss Ratings cut Vistance Networks from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, August 17th. Finally, Wall Street Zen upgraded Vistance Networks from a "sell" rating to a "hold" rating in a report on Sunday, August 30th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Vistance Networks has a consensus rating of "Hold" and an average price target of $19.33.

Insider Activity at Vistance Networks

In related news, CAO Charles A. Gilstrap purchased 10,000 shares of the business's stock in a transaction that occurred on Monday, August 10th. The shares were bought at an average price of $10.75 per share, for a total transaction of $107,500.00. Following the purchase, the chief accounting officer directly owned 302,417 shares of the company's stock, valued at approximately $3,250,982.75. This represents a 3.42% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director L William Krause sold 23,864 shares of the firm's stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $6.27, for a total value of $149,627.28. Following the transaction, the director directly owned 74,507 shares of the company's stock, valued at approximately $467,158.89. This trade represents a 24.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.50% of the company's stock.

Vistance Networks Profile

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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