Vistance Networks (NASDAQ:VISN) Reaches New 1-Year Low - Here's Why

Key Points

• Vistance Networks shares hit a new 52-week low, falling as much as 9.7% to $5.70 on Thursday, compared with a prior close of $6.44.
• Analysts have a consensus Hold rating, with a reported average price target of $19.33.
• The company’s upcoming special dividend was reduced to $1.50 per share, down from its previous $5.00 special dividend.

Vistance Networks, Inc. (NASDAQ:VISN - Get Free Report) shares hit a new 52-week low on Thursday. The stock traded as low as $5.70 and last traded at $5.9010, with a volume of 189,541 shares traded. The stock had previously closed at $6.44.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on VISN. Wall Street Zen raised Vistance Networks from a "sell" rating to a "hold" rating in a report on Sunday, August 30th. Weiss Ratings downgraded Vistance Networks from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, August 17th. Four analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $19.33.

Vistance Networks Trading Down 9.7%

The stock has a market capitalization of $1.34 billion, a PE ratio of 0.19 and a beta of 2.57. The firm's fifty day moving average price is $6.48 and its two-hundred day moving average price is $12.81.

Vistance Networks Cuts Dividend

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

Insider Transactions at Vistance Networks

In other news, CAO Charles A. Gilstrap bought 10,000 shares of the stock in a transaction dated Monday, August 10th. The shares were acquired at an average cost of $10.75 per share, with a total value of $107,500.00. Following the purchase, the chief accounting officer directly owned 302,417 shares in the company, valued at $3,250,982.75. The trade was a 3.42% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director L. William Krause sold 176,136 shares of the firm'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 sale, the director owned 98,371 shares in the company, valued at $664,004.25. This trade represents a 64.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.50% of the company's stock.

Hedge Funds Weigh In On Vistance Networks

Large investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Vistance Networks during the second quarter worth about $319,679,000. State Street Corp acquired a new position in shares of Vistance Networks during the 2nd quarter worth about $92,121,000. Bank of America Corp DE acquired a new position in shares of Vistance Networks during the 2nd quarter worth about $73,146,000. HighTower Advisors LLC purchased a new position in Vistance Networks in the 2nd quarter valued at about $34,338,000. Finally, Allianz Asset Management GmbH purchased a new position in Vistance Networks in the 2nd quarter valued at about $34,115,000. Institutional investors and hedge funds own 88.04% of the company's stock.

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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