Lombard Odier Asset Management Europe Ltd Purchases Shares of 221,801 Vistance Networks, Inc. $VISN

Key Points

• Lombard Odier Asset Management Europe Ltd. acquired 221,801 shares of Vistance Networks valued at approximately $2.84 million, while institutional investors and hedge funds collectively own 88.04% of the company.
• Chief Accounting Officer Charles A. Gilstrap bought 10,000 shares for $107,500, increasing his holdings by 3.42%; company insiders own 3.50% of outstanding shares.
• VISN shares opened at $6.06, near their 52-week low and down 47.9%; analysts maintain a consensus “Hold” rating with a $19.33 price target.

Lombard Odier Asset Management Europe Ltd purchased a new position in Vistance Networks, Inc. (NASDAQ:VISN - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 221,801 shares of the business services provider's stock, valued at approximately $2,835,000. Lombard Odier Asset Management Europe Ltd owned about 0.10% of Vistance Networks at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. GSA Capital Partners LLP purchased a new stake in shares of Vistance Networks during the second quarter valued at $2,374,000. State of Wyoming purchased a new position in Vistance Networks in the 2nd quarter worth $212,000. Bank of New York Mellon Corp purchased a new position in Vistance Networks in the 2nd quarter worth $10,674,000. Persistent Asset Partners Ltd purchased a new stake in Vistance Networks during the 2nd quarter valued at about $29,000. Finally, Deutsche Bank AG acquired a new position in shares of Vistance Networks in the second quarter valued at about $4,662,000. 88.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Charles A. Gilstrap acquired 10,000 shares of the company's stock in a transaction dated Monday, August 10th. The shares were acquired at an average price 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 $3,250,982.75. This trade represents a 3.42% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.50% of the company's stock.

Analyst Ratings Changes

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

Vistance Networks Stock Down 47.9%

Vistance Networks stock opened at $6.06 on Friday. The business's 50-day moving average price is $11.80 and its 200 day moving average price is $14.46. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 0.20 and a beta of 2.36. Vistance Networks, Inc. has a 52 week low of $6.00 and a 52 week high of $20.55.

Vistance Networks Dividend Announcement

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

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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