UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Takes Position in Vistance Networks, Inc. $VISN

Key Points

• UBS Asset Management acquired 533,242 shares of Vistance Networks in the second quarter, valued at approximately $6.8 million and representing about 0.23% of the company. Institutional investors collectively own 88.04% of the stock.
• VISN shares opened at $6.47, near their 12-month low of $6.00 and well below the 50-day and 200-day moving averages of $10.92 and $13.79, respectively. The stock has a consensus “Hold” rating and an average analyst price target of $19.33.
• The company reported paying a $5.00-per-share dividend on August 27. Insider activity was mixed, with a director selling 23,864 shares while the chief accounting officer purchased 10,000 shares.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Vistance Networks, Inc. (NASDAQ:VISN - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 533,242 shares of the business services provider's stock, valued at approximately $6,815,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.23% of Vistance Networks at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of VISN. Persistent Asset Partners Ltd acquired a new stake in Vistance Networks in the 2nd quarter valued at about $29,000. First Bancorp Inc ME acquired a new position in shares of Vistance Networks in the second quarter worth $38,000. Pinnacle Holdings LLC purchased a new stake in shares of Vistance Networks in the second quarter valued at $48,000. Meeder Asset Management Inc. acquired a new position in Vistance Networks in the 2nd quarter valued at about $56,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Vistance Networks during the 2nd quarter worth about $76,000. 88.04% of the stock is currently owned by hedge funds and other institutional investors.

Vistance Networks Trading Up 1.1%

Shares of Vistance Networks stock opened at $6.47 on Wednesday. The business's fifty day moving average price is $10.92 and its 200 day moving average price is $13.79. Vistance Networks, Inc. has a twelve month low of $6.00 and a twelve month high of $20.55. The stock has a market capitalization of $1.49 billion, a P/E ratio of 0.21 and a beta of 2.39.

Vistance Networks Announces Dividend

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

Analyst Upgrades and Downgrades

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

Insider Transactions at Vistance Networks

In other Vistance Networks news, Director L William Krause sold 23,864 shares of Vistance Networks stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $6.27, for a total transaction of $149,627.28. Following the transaction, the director directly owned 74,507 shares of the company's stock, valued at $467,158.89. The trade was a 24.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Charles A. Gilstrap acquired 10,000 shares of the firm's stock in a transaction on 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 completion of the purchase, the chief accounting officer 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. Additional details regarding this purchase are available in the official SEC disclosure. 3.50% of the stock is currently owned by insiders.

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.