Vistance Networks (NASDAQ:VISN) Director L William Krause Sells 176,136 Shares

Key Points

• Director L. William Krause sold 176,136 shares of Vistance Networks at an average price of $6.75, generating approximately $1.19 million and reducing his direct ownership by 64.16% to 98,371 shares.
• VISN shares fell 1.4% to $6.22 during midday trading, near the stock’s one-year low of $6.00; the company has a market capitalization of approximately $1.43 billion.
• Institutional investors own 88.04% of the stock, while analysts maintain a consensus “Hold” rating with an average price target of $19.33. The company also recently paid a $5.00 per-share dividend.

Vistance Networks, Inc. (NASDAQ:VISN - Get Free Report) Director L William Krause sold 176,136 shares of the company's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $6.75, for a total value of $1,188,918.00. Following the transaction, the director directly owned 98,371 shares in the company, valued at $664,004.25. This represents a 64.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Vistance Networks Trading Down 1.4%

Shares of NASDAQ VISN traded down $0.09 during midday trading on Tuesday, reaching $6.22. The company had a trading volume of 8,439,065 shares, compared to its average volume of 6,347,971. The stock has a market cap of $1.43 billion, a P/E ratio of 0.20 and a beta of 2.36. Vistance Networks, Inc. has a 1 year low of $6.00 and a 1 year high of $20.55. The business's 50-day simple moving average is $11.67 and its 200 day simple moving average is $14.33.

Vistance Networks Announces Dividend

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.

Hedge Funds Weigh In On Vistance Networks

Hedge funds and other institutional investors have recently modified their holdings of the business. Algert Global LLC grew its holdings in shares of Vistance Networks by 531.5% in the second quarter. Algert Global LLC now owns 574,865 shares of the business services provider's stock valued at $7,347,000 after purchasing an additional 483,840 shares during the period. BlackRock Inc. purchased a new position in Vistance Networks during the second quarter worth about $319,679,000. Empowered Funds LLC acquired a new position in Vistance Networks in the 2nd quarter valued at about $10,393,000. GSA Capital Partners LLP acquired a new position in Vistance Networks in the 2nd quarter valued at about $2,374,000. Finally, Galaxy Digital Inc. purchased a new stake in shares of Vistance Networks in the 2nd quarter valued at approximately $1,917,000. 88.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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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