Vistance Networks (NASDAQ:VISN) Trading Up 5.5% – Time to Buy?

Shares of Vistance Networks, Inc. (NASDAQ:VISN) traded up 5.5% on Monday . The company traded as high as $6.36 and last traded at $6.3910. 1,784,479 shares changed hands during trading, a decline of 71% from the average session volume of 6,225,568 shares. The stock had previously closed at $6.06.

Wall Street Analyst Weigh In

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

Vistance Networks Price Performance

The stock’s 50-day moving average is $11.80 and its two-hundred day moving average is $14.42. The company has a market cap of $1.46 billion, a P/E ratio of 0.21 and a beta of 2.36.

Vistance Networks Dividend Announcement

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

Insider Buying and Selling

In other news, CAO Charles A. Gilstrap acquired 10,000 shares of Vistance Networks stock in a transaction that occurred on Monday, August 10th. The stock was bought at an average price of $10.75 per share, for a total transaction of $107,500.00. Following the completion of the transaction, the chief accounting officer owned 302,417 shares in the company, valued at $3,250,982.75. The trade was 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 accessible through this hyperlink. Company insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Vistance Networks

Several institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Vistance Networks during the second quarter valued at approximately $319,679,000. Bank of America Corp DE bought a new position in Vistance Networks in the second quarter worth approximately $73,146,000. California State Teachers Retirement System purchased a new position in shares of Vistance Networks during the 2nd quarter worth $41,823,000. HighTower Advisors LLC bought a new stake in shares of Vistance Networks during the 2nd quarter valued at $34,338,000. Finally, Hennessy Advisors Inc. bought a new stake in shares of Vistance Networks during the 2nd quarter valued at $28,614,000. Institutional investors own 88.04% of the company’s stock.

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.