Canada Pension Plan Investment Board Invests $2.70 Million in Vistance Networks, Inc. $VISN

Key Points

• Canada Pension Plan Investment Board acquired 211,500 Vistance Networks shares worth approximately $2.70 million, representing about 0.09% of the company.
• Shares opened at $6.06, 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 per-share dividend, while an insider purchased 10,000 shares.
• Analysts have largely adopted a Hold view, with four Hold ratings and a consensus price target of $19.33; institutional investors and hedge funds own 88.04% of the stock.

Canada Pension Plan Investment Board acquired a new stake in shares of Vistance Networks, Inc. (NASDAQ:VISN - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 211,500 shares of the business services provider's stock, valued at approximately $2,703,000. Canada Pension Plan Investment Board owned about 0.09% of Vistance Networks at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in VISN. Persistent Asset Partners Ltd acquired a new stake in shares of Vistance Networks during the second quarter worth about $29,000. Pinnacle Holdings LLC acquired a new position in shares of Vistance Networks in the 2nd quarter valued at about $48,000. Meeder Asset Management Inc. purchased a new position in Vistance Networks during the second quarter valued at approximately $56,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of Vistance Networks during the 2nd quarter worth approximately $76,000. Finally, Quantbot Technologies LP acquired a new position in shares of Vistance Networks in the 2nd quarter valued at $150,000. 88.04% of the stock is owned by institutional investors and hedge funds.

Vistance Networks Stock Performance

Shares of VISN stock opened at $6.06 on Monday. Vistance Networks, Inc. has a fifty-two week low of $6.00 and a fifty-two week high of $20.55. The stock's fifty day moving average is $11.80 and its two-hundred day moving average is $14.42. The firm has a market capitalization of $1.40 billion, a P/E ratio of 0.20 and a beta of 2.36.

Vistance Networks Announces Dividend

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

Insider Buying and Selling at Vistance Networks

In other Vistance Networks news, CAO Charles A. Gilstrap purchased 10,000 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were purchased at an average cost of $10.75 per share, for a total transaction of $107,500.00. Following the completion of the transaction, the chief accounting officer owned 302,417 shares of the company's stock, valued at $3,250,982.75. The trade was a 3.42% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 3.50% of the company's stock.

Analysts Set New Price Targets

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

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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