Vistance Networks (NASDAQ:VISN) CAO Purchases $107,500.00 in Stock

Vistance Networks, Inc. (NASDAQ:VISN) CAO Charles Gilstrap bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were acquired at an average price of $10.75 per share, with a total value of $107,500.00. Following the purchase, the chief accounting officer owned 302,417 shares of the company’s stock, valued at $3,250,982.75. The trade was a 3.42% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Vistance Networks Stock Up 1.6%

Shares of Vistance Networks stock opened at $11.53 on Friday. The firm has a market capitalization of $2.66 billion, a P/E ratio of 0.37 and a beta of 2.36. Vistance Networks, Inc. has a 52 week low of $9.47 and a 52 week high of $20.55. The firm’s 50 day moving average is $12.15 and its two-hundred day moving average is $14.98.

Vistance Networks Dividend Announcement

The business also recently announced a dividend, which will be paid on Thursday, August 27th. Stockholders of record on Monday, August 17th will be issued a $5.00 dividend. The ex-dividend date is Monday, August 17th.

Wall Street Analyst Weigh In

Several brokerages recently commented on VISN. Zacks Research lowered shares of Vistance Networks from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Northland Securities set a $17.00 price objective on Vistance Networks in a report on Friday, May 1st. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Vistance Networks in a report on Monday, August 3rd. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Vistance Networks has an average rating of “Hold” and an average target price of $19.33.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of VISN. BlackRock Inc. purchased a new stake in shares of Vistance Networks in the second quarter valued at about $319,679,000. Bank of New York Mellon Corp purchased a new position in shares of Vistance Networks during the second quarter worth about $10,674,000. Algert Global LLC grew its holdings in shares of Vistance Networks by 531.5% during the second quarter. Algert Global LLC now owns 574,865 shares of the business services provider’s stock worth $7,347,000 after buying an additional 483,840 shares during the last quarter. Deutsche Bank AG acquired a new position in Vistance Networks in the 2nd quarter valued at about $4,662,000. Finally, III Capital Management acquired a new position in Vistance Networks in the 2nd quarter valued at about $3,469,000. 88.04% of the stock is owned by hedge funds and other institutional investors.

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.