813,243 Shares in Vistance Networks, Inc. $VISN Acquired by Empowered Funds LLC

Key Points

• Empowered Funds LLC acquired 813,243 shares of Vistance Networks, valued at approximately $10.4 million, while institutional investors collectively owned 88.04% of the company.
• Vistance Networks’ chief accounting officer purchased 10,000 shares, increasing his holdings by 3.42%; insiders own 3.50% of the stock.
• Analysts maintain a consensus “Hold” rating with an average price target of $19.33. Shares opened at $6.06, near their 52-week low of $6.00, and the company recently paid a $5.00 dividend.

Empowered Funds LLC purchased a new position in shares of Vistance Networks, Inc. (NASDAQ:VISN - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 813,243 shares of the business services provider's stock, valued at approximately $10,393,000. Empowered Funds LLC owned approximately 0.35% of Vistance Networks as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of VISN. Persistent Asset Partners Ltd acquired a new position in shares of Vistance Networks during the second quarter valued at $29,000. First Bancorp Inc ME bought a new position in shares of Vistance Networks in the 2nd quarter worth $38,000. Pinnacle Holdings LLC acquired a new stake in shares of Vistance Networks during the second quarter worth $48,000. Meeder Asset Management Inc. bought a new stake in Vistance Networks in the second quarter valued at about $56,000. Finally, C M Bidwell & Associates Ltd. acquired a new position in Vistance Networks in the second quarter valued at about $76,000. Institutional investors own 88.04% of the company's stock.

Insider Activity at Vistance Networks

In related news, CAO Charles A. Gilstrap acquired 10,000 shares of the company's stock in a transaction that occurred on Monday, August 10th. The shares were acquired at an average cost of $10.75 per share, for a total transaction of $107,500.00. Following the completion of the acquisition, the chief accounting officer directly owned 302,417 shares in the company, valued at approximately $3,250,982.75. The trade was a 3.42% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Zacks Research lowered Vistance Networks from a "strong-buy" rating to a "hold" rating in a research report 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 equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Vistance Networks currently has a consensus rating of "Hold" and an average target price of $19.33.

Vistance Networks Price Performance

NASDAQ:VISN opened at $6.06 on Friday. The business's 50-day simple moving average is $11.80 and its 200-day simple moving average is $14.46. Vistance Networks, Inc. has a fifty-two week low of $6.00 and a fifty-two week high of $20.55. The stock has a market capitalization of $1.40 billion, a PE ratio of 0.20 and a beta of 2.36.

Vistance Networks Dividend Announcement

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

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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