Vistance Networks (NASDAQ:VISN) Shares Gap Down - Time to Sell?

Key Points

• VISN shares fell sharply: The stock opened at $4.10 versus its prior close of $5.49 and was recently trading around $4.14.
• Analyst sentiment remains cautious: Four analysts rate the stock Hold, with a reported average price target of $19.33; recent rating changes included both an upgrade to Hold and a downgrade within Hold ratings.
• Dividend and insider activity: Vistance reduced its special dividend from $5.00 to $1.50 per share, while a director sold 176,136 shares, cutting his stake by 64.16%.

Shares of Vistance Networks, Inc. (NASDAQ:VISN - Get Free Report) gapped down prior to trading on Monday. The stock had previously closed at $5.49, but opened at $4.10. Vistance Networks shares last traded at $4.1420, with a volume of 730,113 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have recently commented on VISN shares. Wall Street Zen raised Vistance Networks from a "sell" rating to a "hold" rating in a report on Sunday, August 30th. Weiss Ratings lowered Vistance Networks from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, August 17th. Four investment analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $19.33.

Vistance Networks Stock Performance

The firm has a market cap of $964.94 million, a P/E ratio of 0.12 and a beta of 2.57. The company's 50 day moving average is $6.24 and its 200 day moving average is $12.68.

Vistance Networks Cuts Dividend

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

Insider Activity at Vistance Networks

In related news, Director L. William Krause sold 176,136 shares of the firm's stock in a transaction on Friday, August 28th. The stock was sold at an average price of $6.75, for a total transaction of $1,188,918.00. Following the sale, the director owned 98,371 shares of the company's stock, valued at $664,004.25. This trade represents a 64.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 3.50% of the company's stock.

Hedge Funds Weigh In On Vistance Networks

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Diversified Trust Co boosted its stake in Vistance Networks by 47.0% in the third quarter. Diversified Trust Co now owns 71,020 shares of the business services provider's stock valued at $425,000 after acquiring an additional 22,695 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Vistance Networks by 4.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 396,030 shares of the business services provider's stock worth $2,368,000 after purchasing an additional 18,648 shares during the last quarter. Ritholtz Wealth Management raised its holdings in shares of Vistance Networks by 144.4% in the 3rd quarter. Ritholtz Wealth Management now owns 178,711 shares of the business services provider's stock worth $1,069,000 after purchasing an additional 105,598 shares during the period. Jefferies Financial Group Inc. raised its holdings in shares of Vistance Networks by 110.0% in the 3rd quarter. Jefferies Financial Group Inc. now owns 84,000 shares of the business services provider's stock worth $502,000 after purchasing an additional 44,000 shares during the period. Finally, Fulcrum Asset Management LLP lifted its stake in Vistance Networks by 588.1% in the third quarter. Fulcrum Asset Management LLP now owns 125,628 shares of the business services provider's stock valued at $746,000 after purchasing an additional 107,372 shares during the last quarter. 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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