Vistance Networks (NASDAQ:VISN) Sets New 52-Week Low - Time to Sell?

Key Points

• Vistance Networks shares hit a new 52-week low, falling to $5.76 and trading well below their 50-day and 200-day moving averages.
• Analysts remain cautious: all four analysts rate the stock a Hold, although the consensus price target of $19.33 is substantially above the current price.
• The company announced a reduced $1.50 special dividend, down from $5.00 previously, while insider activity was mixed as a director sold 176,136 shares and the chief accounting officer purchased 10,000 shares.

Vistance Networks, Inc. (NASDAQ:VISN - Get Free Report)'s stock price reached a new 52-week low on Tuesday. The stock traded as low as $5.76 and last traded at $5.8350, with a volume of 167,726 shares trading hands. The stock had previously closed at $5.82.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on VISN. Weiss Ratings cut shares of Vistance Networks from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, August 17th. Zacks Research lowered shares of Vistance Networks from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 30th. Finally, Wall Street Zen upgraded shares of Vistance Networks from a "sell" rating to a "hold" rating in a research report on Sunday, August 30th. Four investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, Vistance Networks presently has an average rating of "Hold" and a consensus target price of $19.33.

Vistance Networks Price Performance

The company has a market cap of $1.38 billion, a PE ratio of 0.19 and a beta of 2.38. The firm has a 50-day simple moving average of $7.57 and a two-hundred day simple moving average of $11.41.

Vistance Networks Cuts Dividend

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

Insider Activity

In related news, Director L. William Krause sold 176,136 shares of the business'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 completion of the transaction, the director owned 98,371 shares of the company's stock, valued at approximately $664,004.25. The trade was a 64.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Charles A. Gilstrap bought 10,000 shares of Vistance Networks stock in a transaction on Monday, August 10th. The stock was purchased at an average price of $10.75 per share, for a total transaction of $107,500.00. Following the completion of the acquisition, the chief accounting officer owned 302,417 shares in the company, valued at $3,250,982.75. This represents a 3.42% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 3.50% of the company's stock.

Hedge Funds Weigh In On Vistance Networks

Several institutional investors and hedge funds have recently modified their holdings of the company. State of Alaska Department of Revenue acquired a new position in Vistance Networks in the third quarter valued at $72,000. Envestnet Asset Management Inc. purchased a new position in Vistance Networks during the second quarter worth about $255,000. State Street Corp acquired a new stake in Vistance Networks in the 2nd quarter worth about $92,121,000. The Manufacturers Life Insurance Company acquired a new stake in Vistance Networks in the 2nd quarter worth about $1,454,000. Finally, Tidal Investments LLC acquired a new stake in Vistance Networks in the 2nd quarter worth about $2,556,000. Hedge funds and other institutional investors own 88.04% of the company's stock.

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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