Algert Global LLC Buys 483,840 Shares of Vistance Networks, Inc. $VISN

Key Points

• Algert Global LLC increased its Vistance Networks stake by 531.5% in the second quarter, buying 483,840 shares to reach 574,865 shares valued at approximately $7.35 million. Institutional investors collectively own 88.04% of the company.
• Chief Accounting Officer Charles A. Gilstrap purchased 10,000 shares at an average price of $10.75, increasing his position by 3.42%; insiders own 3.50% of the stock.
• Analyst sentiment is largely neutral: four analysts rate VISN “Hold,” with an average price target of $19.33, while the stock recently opened at $11.05. The company also announced a $5.00 per-share dividend.

Algert Global LLC boosted its holdings in shares of Vistance Networks, Inc. (NASDAQ:VISN - Free Report) by 531.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 574,865 shares of the business services provider's stock after buying an additional 483,840 shares during the period. Algert Global LLC owned about 0.25% of Vistance Networks worth $7,347,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Persistent Asset Partners Ltd bought a new stake in Vistance Networks during the second quarter worth about $29,000. Pinnacle Holdings LLC acquired a new stake in Vistance Networks during the 2nd quarter valued at $48,000. Meeder Asset Management Inc. bought a new position in Vistance Networks in the 2nd quarter valued at $56,000. C M Bidwell & Associates Ltd. bought a new position in Vistance Networks in the 2nd quarter valued at $76,000. Finally, Quantbot Technologies LP acquired a new position in Vistance Networks in the second quarter worth $150,000. Institutional investors and hedge funds own 88.04% of the company's stock.

Insider Activity

In related news, CAO Charles A. Gilstrap acquired 10,000 shares of Vistance Networks stock in a transaction on Monday, August 10th. The stock was purchased at an average cost of $10.75 per share, with a total value of $107,500.00. Following the completion of the transaction, the chief accounting officer directly owned 302,417 shares in the company, valued at $3,250,982.75. This trade represents a 3.42% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on VISN. Zacks Research cut Vistance Networks from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 30th. Wall Street Zen cut shares of Vistance Networks from a "hold" rating to a "sell" rating in a research note on Saturday, August 22nd. Northland Securities set a $17.00 price objective on Vistance Networks in a research report on Friday, May 1st. Finally, Weiss Ratings cut Vistance Networks from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, August 17th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $19.33.

Vistance Networks Stock Performance

NASDAQ VISN opened at $11.05 on Thursday. Vistance Networks, Inc. has a 52-week low of $9.47 and a 52-week high of $20.55. The business has a 50 day simple moving average of $11.95 and a 200 day simple moving average of $14.56. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 0.36 and a beta of 2.36.

Vistance Networks Dividend Announcement

The company also recently announced a dividend, which will be paid on Thursday, August 27th. Stockholders of record on Monday, August 17th will be issued a $5.00 dividend. The ex-dividend date of this dividend is Friday, August 28th.

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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