Investors Purchase High Volume of Vistance Networks Call Options (NASDAQ:VISN)

Key Points

• Unusual options activity drew attention to Vistance Networks, with traders buying 5,032 call options on Wednesday, up 122% from the average volume of 2,271.
• Shares of VISN fell 2.8% to $12.13, even as the stock has ranged from a 12-month low of $7.49 to a high of $20.55 and carries a market cap of $2.74 billion.
• The company recently beat quarterly earnings estimates, reporting $0.34 EPS versus $0.17 expected, and also paid a special $10.00 dividend to shareholders of record in April.

Vistance Networks, Inc. (NASDAQ:VISN - Get Free Report) was the target of some unusual options trading activity on Wednesday. Stock traders purchased 5,032 call options on the company. This is an increase of 122% compared to the average volume of 2,271 call options.

Vistance Networks Stock Down 2.8%

Shares of VISN stock traded down $0.34 during mid-day trading on Wednesday, hitting $12.13. 1,030,485 shares of the stock were exchanged, compared to its average volume of 5,665,241. The firm's fifty day moving average price is $12.26. Vistance Networks has a 12-month low of $7.49 and a 12-month high of $20.55. The company has a market capitalization of $2.74 billion, a PE ratio of 0.41 and a beta of 2.34.

Vistance Networks (NASDAQ:VISN - Get Free Report) last announced its earnings results on Thursday, April 30th. The business services provider reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.17. Vistance Networks had a net margin of 175.01% and a negative return on equity of 136.98%. The business had revenue of $471.80 million during the quarter. The firm's revenue for the quarter was up 21.6% compared to the same quarter last year. As a group, analysts anticipate that Vistance Networks will post 1.11 earnings per share for the current year.

Vistance Networks Dividend Announcement

The company also recently disclosed a special dividend, which was paid on Monday, April 27th. Shareholders of record on Friday, April 17th were paid a $10.00 dividend.

Analyst Ratings Changes

A number of equities analysts recently commented on VISN shares. Weiss Ratings upgraded Vistance Networks from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, May 6th. Zacks Research lowered shares of Vistance Networks from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 30th. JPMorgan Chase & Co. cut their target price on shares of Vistance Networks from $24.00 to $21.00 and set a "neutral" rating on the stock in a research note on Thursday, April 16th. Finally, Northland Securities set a $17.00 target price on shares of Vistance Networks in a report on Friday, May 1st. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Vistance Networks has a consensus rating of "Hold" and a consensus target price of $19.33.

Vistance Networks Company Profile

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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