Empowered Funds LLC Buys New Position in Vistance Networks, Inc. $VISN

Empowered Funds LLC bought a new stake in Vistance Networks, Inc. (NASDAQ:VISN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 813,243 shares of the business services provider’s stock, valued at approximately $10,393,000.

A number of other large investors have also recently bought and sold shares of VISN. Persistent Asset Partners Ltd bought a new position in shares of Vistance Networks during the 2nd quarter worth approximately $29,000. First Bancorp Inc ME acquired a new position in Vistance Networks during the second quarter worth $38,000. Pinnacle Holdings LLC acquired a new position in Vistance Networks during the second quarter worth $48,000. Meeder Asset Management Inc. bought a new position in Vistance Networks in the second quarter valued at $56,000. Finally, C M Bidwell & Associates Ltd. bought a new position in Vistance Networks in the second quarter valued at $76,000. Institutional investors and hedge funds own 88.04% of the company’s stock.

Insider Activity at Vistance Networks

In other news, CAO Charles A. Gilstrap acquired 10,000 shares of the stock in a transaction dated Monday, August 10th. The shares were bought at an average cost of $10.75 per share, for a total transaction of $107,500.00. Following the purchase, the chief accounting officer directly owned 302,417 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink. 3.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

Vistance Networks Trading Down 47.9%

NASDAQ:VISN opened at $6.06 on Friday. The stock has a market capitalization of $1.40 billion, a PE ratio of 0.20 and a beta of 2.36. Vistance Networks, Inc. has a 1-year low of $6.00 and a 1-year high of $20.55. The firm has a fifty day simple moving average of $11.80 and a 200 day simple moving average of $14.46.

Vistance Networks Dividend Announcement

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

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.