The Manufacturers Life Insurance Company Takes $1.45 Million Position in Vistance Networks, Inc. $VISN

The Manufacturers Life Insurance Company purchased a new stake in Vistance Networks, Inc. (NASDAQ:VISN) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 113,770 shares of the business services provider’s stock, valued at approximately $1,454,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of VISN. Tidal Investments LLC purchased a new stake in Vistance Networks during the second quarter valued at about $2,556,000. Engineers Gate Manager LP purchased a new stake in shares of Vistance Networks in the 2nd quarter valued at approximately $6,837,000. Integrated Wealth Concepts LLC acquired a new position in Vistance Networks in the 2nd quarter worth approximately $55,000. NewEdge Advisors LLC purchased a new position in Vistance Networks during the 2nd quarter worth approximately $69,000. Finally, Arizona State Retirement System acquired a new stake in Vistance Networks during the 2nd quarter valued at $755,000. Institutional investors and hedge funds own 88.04% of the company’s stock.

Analyst Upgrades and Downgrades

VISN has been the subject of several recent analyst reports. Wall Street Zen raised Vistance Networks from a “sell” rating to a “hold” rating in a research report on Sunday, August 30th. Weiss Ratings cut Vistance Networks from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, August 17th. Finally, Zacks Research lowered shares of Vistance Networks from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $19.33.

Vistance Networks Price Performance

Vistance Networks stock opened at $6.47 on Tuesday. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 0.21 and a beta of 2.39. Vistance Networks, Inc. has a one year low of $6.00 and a one year high of $20.55. The company’s fifty day moving average price is $10.45 and its two-hundred day moving average price is $13.45.

Vistance Networks Dividend Announcement

The business also recently disclosed a dividend, which was paid on Thursday, August 27th. Stockholders of record on Monday, August 17th were issued a dividend of $5.00 per share. The ex-dividend date of this dividend was Friday, August 28th.

Insider Transactions at Vistance Networks

In other Vistance Networks news, Director L. William Krause sold 176,136 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director owned 98,371 shares of the company’s stock, valued at $664,004.25. This represents a 64.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Charles A. Gilstrap bought 10,000 shares of the stock in a transaction that occurred 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 $3,250,982.75. The trade was a 3.42% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 3.50% of the company’s stock.

Vistance Networks 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.