Vistance Networks (NASDAQ:VISN) Stock: Insider Claudius Iv Watts Buys 25,000 Shares

Key Points

• Director Claudius Iv Watts bought 25,000 shares for $100,000 at $4 per share, increasing his holdings by 1.59% to 1,597,729 shares.
• VISN traded at $4, near its one-year low of $3.90 and well below its 50-day and 200-day moving averages of $6.07 and $12.40.
• The company paid a $1.50 special dividend, down from its previous $5.00 payout. Analysts’ consensus rating is Hold, with an average price target of $15.

Vistance Networks, Inc. (NASDAQ:VISN - Get Free Report) Director Claudius Iv Watts bought 25,000 shares of the company's stock in a transaction on Thursday, November 12th. The shares were bought at an average price of $4.00 per share, with a total value of $100,000.00. Following the completion of the transaction, the director owned 1,597,729 shares of the company's stock, valued at $6,390,916. The trade was a 1.59% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Vistance Networks Price Performance

VISN stock traded down $0.06 during midday trading on Thursday, reaching $4.00. The company had a trading volume of 7,564,426 shares, compared to its average volume of 7,376,198. Vistance Networks, Inc. has a 1 year low of $3.90 and a 1 year high of $20.55. The company has a market capitalization of $814.36 million, a P/E ratio of 0.11 and a beta of 2.57. The firm has a 50-day moving average price of $6.07 and a 200-day moving average price of $12.40.

Vistance Networks Cuts Dividend

The business also recently disclosed a special dividend, which was paid on Friday, November 6th. Stockholders of record on Monday, October 26th were given a dividend of $1.50 per share. This is a drop from Vistance Networks's previous special dividend of $5.00.

Institutional Trading of Vistance Networks

Several hedge funds and other institutional investors have recently bought and sold shares of VISN. BlackRock Inc. bought a new position in Vistance Networks during the second quarter valued at approximately $319,679,000. First Trust Advisors LP raised its stake in shares of Vistance Networks by 1,358.6% during the third quarter. First Trust Advisors LP now owns 14,520,886 shares of the business services provider's stock worth $86,835,000 after acquiring an additional 13,525,341 shares in the last quarter. State Street Corp bought a new stake in shares of Vistance Networks in the 2nd quarter worth approximately $92,121,000. Bank of America Corp DE bought a new stake in shares of Vistance Networks in the 2nd quarter worth approximately $73,146,000. Finally, HighTower Advisors LLC bought a new stake in shares of Vistance Networks in the 2nd quarter worth approximately $34,338,000. Hedge funds and other institutional investors own 88.04% of the company's stock.

Wall Street Analyst Weigh In

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

About Vistance Networks

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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