Galaxy Digital Inc. Invests $1.92 Million in Vistance Networks, Inc. $VISN

Key Points

• Galaxy Digital initiated a $1.92 million position in Vistance Networks, purchasing 150,000 shares during the second quarter. The stake represented about 0.07% of Vistance Networks and 0.1% of Galaxy Digital’s portfolio.
• Institutional investors and hedge funds collectively owned 88.04% of Vistance Networks, while company insiders held 3.50%; Chief Accounting Officer Charles Gilstrap also purchased 10,000 shares for approximately $107,500.
• VISN shares opened at $10.84, below their 50-day and 200-day moving averages, while analyst sentiment remained cautious with a consensus “Hold” rating and an average price target of $19.33.

Galaxy Digital Inc. bought a new position in shares of Vistance Networks, Inc. (NASDAQ:VISN - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 150,000 shares of the business services provider's stock, valued at approximately $1,917,000. Vistance Networks comprises about 0.1% of Galaxy Digital Inc.'s holdings, making the stock its 23rd largest position. Galaxy Digital Inc. owned 0.07% of Vistance Networks at the end of the most recent reporting period.

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

Vistance Networks Price Performance

VISN stock opened at $10.84 on Tuesday. The stock has a market capitalization of $2.50 billion, a PE ratio of 0.35 and a beta of 2.36. The company's 50-day moving average is $12.01 and its 200-day moving average is $14.66. Vistance Networks, Inc. has a 1 year low of $9.47 and a 1 year high of $20.55.

Vistance Networks Dividend Announcement

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

Insiders Place Their Bets

In other news, CAO Charles A. Gilstrap purchased 10,000 shares of the business's stock in a transaction on Monday, August 10th. The shares were acquired at an average price of $10.75 per share, for a total transaction of $107,500.00. Following the completion of the acquisition, the chief accounting officer owned 302,417 shares in the company, valued at approximately $3,250,982.75. The trade was a 3.42% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.50% of the company's stock.

Analysts Set New Price Targets

VISN has been the topic of several research analyst reports. Wall Street Zen lowered Vistance Networks from a "hold" rating to a "sell" rating in a research report on Saturday. Weiss Ratings downgraded Vistance Networks from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, August 17th. Zacks Research lowered Vistance Networks from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 30th. Finally, Northland Securities set a $17.00 price target on Vistance Networks in a report on Friday, May 1st. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $19.33.

Vistance Networks Company 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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