Vest Financial LLC Makes New $11.90 Million Investment in Vistance Networks, Inc. $VISN

Key Points

• Vest Financial LLC purchased nearly 1.99 million VISN shares worth approximately $11.9 million, giving it a 0.86% stake. Institutional investors collectively own 88.04% of the company.
• Vistance Networks shares opened at $6.08, near their 52-week low of $5.76 and well below the 200-day moving average of $11.15. Analysts maintain a consensus “Hold” rating with an average price target of $19.33.
• The company declared a $1.50 special dividend, down from its previous $5.00 payment; investors had to be on record by October 26 to receive it on November 6.

Vest Financial LLC purchased a new position in Vistance Networks, Inc. (NASDAQ:VISN - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,989,489 shares of the business services provider's stock, valued at approximately $11,897,000. Vest Financial LLC owned about 0.86% of Vistance Networks as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of VISN. BlackRock Inc. bought a new stake in shares of Vistance Networks during the 2nd quarter valued at about $319,679,000. State Street Corp acquired a new stake in Vistance Networks during the second quarter worth about $92,121,000. Bank of America Corp DE bought a new position in Vistance Networks in the second quarter worth about $73,146,000. HighTower Advisors LLC bought a new position in Vistance Networks in the second quarter worth about $34,338,000. Finally, Allianz Asset Management GmbH bought a new position in Vistance Networks in the second quarter worth about $34,115,000. 88.04% of the stock is currently owned by institutional investors.

Vistance Networks Stock Performance

Shares of VISN opened at $6.08 on Friday. The firm has a fifty day moving average of $7.24 and a 200-day moving average of $11.15. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 5.41 and a beta of 2.38. Vistance Networks, Inc. has a 1 year low of $5.76 and a 1 year high of $20.55.

Vistance Networks Cuts Dividend

The company also recently disclosed a special dividend, which will be paid on Friday, November 6th. Investors of record on Monday, October 26th will be given a $1.50 dividend. This is a decrease from Vistance Networks's previous special dividend of $5.00.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, CAO Charles A. Gilstrap bought 10,000 shares of the firm's stock in a transaction on Monday, August 10th. The stock was purchased at an average price of $10.75 per share, for a total transaction of $107,500.00. Following the transaction, the chief accounting officer owned 302,417 shares in the company, valued at approximately $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 link. Also, Director L. William Krause sold 23,864 shares of the firm's 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 completion of the sale, the director owned 74,507 shares in the company, valued at $467,158.89. The trade was a 24.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.50% of the company's stock.

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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