Vistance Networks (NASDAQ:VISN) Director Claudius Iv Watts Purchases 25,000 Shares of Stock

Key Points

• Director Claudius Iv Watts bought 25,000 shares at an average price of $3.93, investing $98,250 and increasing his stake by 1.62% to 1,572,729 shares.
• VISN shares were trading at $4.00, down 1.5% on the day and near the reported 52-week low of $3.90.
• Vistance Networks paid a $1.50 special dividend, down from its previous $5.00 payment. Analysts’ consensus rating is Hold, with an average price target of $15.

Vistance Networks, Inc. (NASDAQ:VISN - Get Free Report) Director Claudius Iv Watts acquired 25,000 shares of the business's stock in a transaction that occurred on Tuesday, November 10th. The stock was purchased at an average price of $3.93 per share, for a total transaction of $98,250.00. Following the acquisition, the director directly owned 1,572,729 shares in the company, valued at approximately $6,180,824.97. This trade represents a 1.62% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Vistance Networks Trading Down 1.5%

VISN traded down $0.06 during mid-day trading on Thursday, hitting $4.00. 7,564,426 shares of the stock were exchanged, compared to its average volume of 7,376,198. The firm's fifty day moving average is $6.07 and its two-hundred day moving average is $12.40. Vistance Networks, Inc. has a 1-year low of $3.90 and a 1-year high of $20.55. The company has a market cap of $814.36 million, a PE ratio of 0.11 and a beta of 2.57.

Vistance Networks Cuts Dividend

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

Institutional Trading of Vistance Networks

Several hedge funds have recently added to or reduced their stakes in the company. Persistent Asset Partners Ltd purchased a new position in Vistance Networks in the second quarter worth approximately $29,000. Triumph Capital Management purchased a new stake in shares of Vistance Networks in the 2nd quarter valued at approximately $32,000. First Bancorp Inc ME purchased a new stake in shares of Vistance Networks in the 2nd quarter valued at approximately $38,000. Pinnacle Holdings LLC acquired a new stake in shares of Vistance Networks in the 2nd quarter valued at $48,000. Finally, Nykredit A S acquired a new stake in shares of Vistance Networks in the 2nd quarter valued at $54,000. Institutional investors and hedge funds own 88.04% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on VISN. Northland Securities lowered shares of Vistance Networks from an "outperform" rating to a "market perform" rating and set a $4.00 price target on the stock. in a research note on Tuesday. Wall Street Zen raised shares of Vistance Networks from a "sell" rating to a "hold" rating in a research note on Sunday, August 30th. Finally, Weiss Ratings cut shares of Vistance Networks from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, August 17th. Five analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $15.00.

Vistance Networks Company Profile

Vistance Networks develops and supplies communications technology for satellite, space, terrestrial and wireless networks. Its offerings include satellite modems and ground-station equipment, radio-frequency systems, and troposcatter communications technology used to connect networks where conventional infrastructure may be limited. The company also provides public-safety communications solutions, including technology for emergency calling, call handling and location services. Its customers include government and defense organizations, satellite and telecommunications operators, and public-safety agencies.

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