Allianz Asset Management GmbH Takes $34.12 Million Position in Vistance Networks, Inc. $VISN

Allianz Asset Management GmbH bought a new stake in shares of Vistance Networks, Inc. (NASDAQ:VISN - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,669,392 shares of the business services provider's stock, valued at approximately $34,115,000. Allianz Asset Management GmbH owned about 1.16% of Vistance Networks at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. GSA Capital Partners LLP purchased a new position in shares of Vistance Networks during the 2nd quarter valued at about $2,374,000. State of Wyoming purchased a new position in shares of Vistance Networks in the second quarter worth about $212,000. Bank of New York Mellon Corp purchased a new position in shares of Vistance Networks in the second quarter worth about $10,674,000. Persistent Asset Partners Ltd bought a new stake in shares of Vistance Networks in the 2nd quarter valued at about $29,000. Finally, Deutsche Bank AG bought a new stake in shares of Vistance Networks in the 2nd quarter valued at about $4,662,000. Institutional investors own 88.04% of the company's stock.

Vistance Networks Stock Performance

Shares of VISN opened at $6.40 on Tuesday. The firm's 50-day simple moving average is $11.04 and its two-hundred day simple moving average is $13.88. 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 cap of $1.48 billion, a PE ratio of 0.21 and a beta of 2.39.

Vistance Networks Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on VISN shares. Zacks Research cut Vistance Networks from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 30th. Weiss Ratings lowered shares of Vistance Networks from a "hold (c+)" rating to a "hold (c)" rating in a report 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, August 30th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $19.33.

Insider Transactions at Vistance Networks

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

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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