III Capital Management Makes New Investment in Vistance Networks, Inc. $VISN

Key Points

• III Capital Management acquired 271,443 shares of Vistance Networks in the second quarter, valued at approximately $3.47 million. The position represents 0.9% of its portfolio and about 0.12% of the company, while institutional investors and hedge funds collectively own 88.04% of the stock.
• Analyst sentiment has weakened, with Wall Street Zen downgrading the stock to “sell” and Zacks Research moving it to “hold.” The consensus rating is “Hold,” with an average price target of $19.33.
• VISN opened at $11.04, compared with a 52-week range of $9.47 to $20.55. Chief Accounting Officer Charles A. Gilstrap also bought 10,000 shares at an average price of $10.75, increasing his position by 3.42%.

III Capital Management purchased a new position in shares of Vistance Networks, Inc. (NASDAQ:VISN - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 271,443 shares of the business services provider's stock, valued at approximately $3,469,000. Vistance Networks comprises 0.9% of III Capital Management's investment portfolio, making the stock its 11th biggest holding. III Capital Management owned about 0.12% of Vistance Networks at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

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

Vistance Networks Trading Up 1.8%

Shares of VISN opened at $11.04 on Wednesday. Vistance Networks, Inc. has a twelve month low of $9.47 and a twelve month high of $20.55. The firm has a market capitalization of $2.55 billion, a P/E ratio of 0.36 and a beta of 2.36. The firm's 50-day moving average is $11.98 and its two-hundred day moving average is $14.61.

Vistance Networks Announces Dividend

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

Insiders Place Their Bets

In other news, CAO Charles A. Gilstrap acquired 10,000 shares of the company's stock in a transaction that occurred 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 purchase, the chief accounting officer directly owned 302,417 shares of the company's stock, valued at approximately $3,250,982.75. This trade represents 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. 3.50% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding VISN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vistance Networks, Inc. (NASDAQ:VISN - Free Report).

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