Vistance Networks (NASDAQ:VISN) Lowered to Sell Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Vistance Networks from “hold” to “sell.” Other analysts have also become more cautious, leaving the stock with a consensus “Hold” rating and an average price target of $19.33.
• Vistance Networks shares opened at $11.21, below their 50-day and 200-day moving averages of $12.05 and $14.74, respectively. The stock has traded between $9.47 and $20.55 over the past year.
• Despite the downgrade, Chief Accounting Officer Charles A. Gilstrap purchased 10,000 shares for $107,500, while institutional investors own 88.04% of the company.

Vistance Networks (NASDAQ:VISN - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

A number of other research analysts also recently commented on the stock. Weiss Ratings downgraded shares of Vistance Networks from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday. Zacks Research downgraded shares of Vistance Networks from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 30th. Finally, Northland Securities set a $17.00 target price on shares of Vistance Networks in a research note on Friday, May 1st. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Vistance Networks presently has an average rating of "Hold" and an average price target of $19.33.

Vistance Networks Stock Performance

Shares of NASDAQ:VISN opened at $11.21 on Friday. The firm has a 50 day simple moving average of $12.05 and a 200 day simple moving average of $14.74. Vistance Networks has a 52 week low of $9.47 and a 52 week high of $20.55. The company has a market cap of $2.59 billion, a PE ratio of 0.36 and a beta of 2.36.

Insider Activity at Vistance Networks

In other news, CAO Charles A. Gilstrap bought 10,000 shares of the business's stock in a transaction that occurred on Monday, August 10th. The stock was acquired at an average cost of $10.75 per share, for a total transaction of $107,500.00. Following the completion of the purchase, the chief accounting officer owned 302,417 shares of the company's stock, valued at $3,250,982.75. This trade represents a 3.42% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.50% of the company's stock.

Hedge Funds Weigh In On Vistance Networks

Several institutional investors have recently added to or reduced their stakes in the company. Persistent Asset Partners Ltd acquired a new position in Vistance Networks during the 2nd quarter worth about $29,000. Triumph Capital Management bought a new position in shares of Vistance Networks in the second quarter worth about $32,000. First Bancorp Inc ME bought a new position in shares of Vistance Networks in the second quarter worth about $38,000. Pinnacle Holdings LLC acquired a new position in shares of Vistance Networks during the second quarter worth approximately $48,000. Finally, Nykredit A S acquired a new position in shares of Vistance Networks during the second quarter worth approximately $54,000. 88.04% of the stock is owned by institutional investors.

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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