BlackRock Inc. Makes New $319.68 Million Investment in Vistance Networks, Inc. $VISN

BlackRock Inc. acquired a new position in shares of Vistance Networks, Inc. (NASDAQ:VISN) in the 2nd quarter, HoldingsChannel reports. The firm acquired 25,014,020 shares of the business services provider’s stock, valued at approximately $319,679,000. BlackRock Inc. owned approximately 0.11% of Vistance Networks at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of VISN. Persistent Asset Partners Ltd acquired a new stake in shares of Vistance Networks during the 2nd quarter worth about $29,000. State of Wyoming acquired a new stake in shares of Vistance Networks during the second quarter worth about $212,000. GSA Capital Partners LLP purchased a new stake in shares of Vistance Networks in the second quarter valued at about $2,374,000. Deutsche Bank AG purchased a new position in Vistance Networks during the 2nd quarter worth $4,662,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Vistance Networks in the 2nd quarter valued at approximately $10,674,000. Hedge funds and other institutional investors own 88.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on VISN. Northland Securities set a $17.00 price target on Vistance Networks in a report on Friday, May 1st. Wall Street Zen downgraded shares of Vistance Networks from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Zacks Research downgraded shares of Vistance Networks from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Finally, Weiss Ratings lowered Vistance Networks from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, August 17th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Vistance Networks currently has an average rating of “Hold” and a consensus target price of $19.33.

Insider Activity at Vistance Networks

In other Vistance Networks news, CAO Charles A. Gilstrap purchased 10,000 shares of the business’s 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 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.50% of the company’s stock.

Vistance Networks Price Performance

Vistance Networks stock opened at $11.05 on Thursday. The company’s fifty day moving average price is $11.95 and its two-hundred day moving average price is $14.56. Vistance Networks, Inc. has a one year low of $9.47 and a one year high of $20.55. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 0.36 and a beta of 2.36.

Vistance Networks Announces Dividend

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

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.