Vistance Networks (NASDAQ:VISN) Reaches New 12-Month Low - Should You Sell?

Key Points

• Vistance Networks shares fell to a new 52-week low of $5.89, down 2.7%, with the price well below its 50-day and 200-day moving averages.
• Analyst sentiment is currently neutral: four analysts rate the stock “Hold,” while the average price target is $19.33. Recent ratings included downgrades from Zacks Research and Weiss Ratings, partially offset by Wall Street Zen upgrading the stock from “Sell” to “Hold.”
• The company paid a recently announced $5.00-per-share dividend; meanwhile, one director sold shares while the chief accounting officer bought shares, and institutional investors own 88.04% of the stock.

Vistance Networks, Inc. (NASDAQ:VISN - Get Free Report)'s share price reached a new 52-week low on Thursday. The company traded as low as $5.89 and last traded at $5.8950, with a volume of 1612762 shares traded. The stock had previously closed at $6.07.

Analyst Ratings Changes

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

Vistance Networks Trading Down 2.7%

The firm has a market cap of $1.36 billion, a PE ratio of 0.19 and a beta of 2.38. The business has a fifty day moving average price of $8.48 and a 200 day moving average price of $12.09.

Vistance Networks Dividend Announcement

The business also recently disclosed a dividend, which was paid on Thursday, August 27th. Shareholders of record on Monday, August 17th were issued a dividend of $5.00 per share. The ex-dividend date of this dividend was Friday, August 28th.

Insider Activity at Vistance Networks

In related news, Director L. William Krause sold 23,864 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $6.27, for a total value of $149,627.28. Following the transaction, the director directly owned 74,507 shares of the company's stock, valued at $467,158.89. This trade represents a 24.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Charles A. Gilstrap purchased 10,000 shares of the business's stock in a transaction that occurred on Monday, August 10th. The shares were bought at an average price of $10.75 per share, for a total transaction of $107,500.00. Following the completion of the purchase, the chief accounting officer directly owned 302,417 shares in the company, valued at $3,250,982.75. This represents a 3.42% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 3.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Vistance Networks

Several hedge funds have recently made changes to their positions in VISN. BlackRock Inc. purchased a new stake in shares of Vistance Networks in the 2nd quarter valued at about $319,679,000. State Street Corp acquired a new position in Vistance Networks during the second quarter worth approximately $92,121,000. Bank of America Corp DE purchased a new stake in Vistance Networks in the second quarter valued at approximately $73,146,000. HighTower Advisors LLC purchased a new stake in Vistance Networks in the second quarter valued at approximately $34,338,000. Finally, Allianz Asset Management GmbH acquired a new stake in shares of Vistance Networks in the second quarter valued at approximately $34,115,000. Hedge funds and other institutional investors 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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