Vistance Networks (NASDAQ:VISN) Trading 5.5% Higher - Time to Buy?

Key Points

• Vistance Networks rose 5.5% to about $6.39 in Monday trading, though volume was 71% below its average.
• Analyst sentiment remains cautious: all four analysts rate the stock “Hold,” despite a consensus price target of $19.33.
• The company paid a recently declared $5.00-per-share dividend, while an insider purchased 10,000 shares; institutional investors own 88.04% of the stock.

Vistance Networks, Inc. (NASDAQ:VISN - Get Free Report) rose 5.5% on Monday . The stock traded as high as $6.36 and last traded at $6.3910. Approximately 1,784,479 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 6,225,568 shares. The stock had previously closed at $6.06.

Wall Street Analysts Forecast Growth

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

Vistance Networks Stock Performance

The company has a 50-day simple moving average of $11.80 and a two-hundred day simple moving average of $14.42. The firm has a market capitalization of $1.46 billion, a P/E ratio of 0.21 and a beta of 2.36.

Vistance Networks Announces Dividend

The company also recently declared a dividend, which was paid on Thursday, August 27th. Investors of record on Monday, August 17th were given a dividend of $5.00 per share. The ex-dividend date was Friday, August 28th.

Insiders Place Their Bets

In other news, CAO Charles A. Gilstrap purchased 10,000 shares of Vistance Networks stock in a transaction that occurred on Monday, August 10th. The shares were bought at an average cost of $10.75 per share, with a total value of $107,500.00. Following the completion of the purchase, the chief accounting officer directly owned 302,417 shares in the company, valued at approximately $3,250,982.75. This trade represents a 3.42% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.50% of the stock is currently owned by insiders.

Institutional Trading of Vistance Networks

Hedge funds have recently modified their holdings of the business. Persistent Asset Partners Ltd purchased a new position in Vistance Networks during the 2nd quarter valued at about $29,000. Triumph Capital Management purchased a new stake in Vistance Networks in the second quarter worth about $32,000. First Bancorp Inc ME purchased a new stake in Vistance Networks in the second quarter worth about $38,000. Pinnacle Holdings LLC bought a new position in shares of Vistance Networks during the second quarter valued at approximately $48,000. Finally, Nykredit A S bought a new position in shares of Vistance Networks during the second quarter valued at approximately $54,000. 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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