Vistance Networks (NASDAQ:VISN) Reaches New 12-Month Low – Should You Sell?

Vistance Networks, Inc. (NASDAQ:VISN)’s share price hit a new 52-week low during trading on Thursday. The company traded as low as $5.70 and last traded at $5.9010, with a volume of 189,541 shares changing hands. The stock had previously closed at $6.44.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Weiss Ratings lowered Vistance Networks from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, August 17th. Wall Street Zen raised Vistance Networks from a “sell” rating to a “hold” rating in a research note on Sunday, August 30th. Four equities research analysts have rated the stock with a Hold rating. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $19.33.

Vistance Networks Stock Down 9.7%

The business has a 50-day moving average price of $6.48 and a 200-day moving average price of $12.81. The firm has a market capitalization of $1.34 billion, a PE ratio of 0.19 and a beta of 2.57.

Vistance Networks Cuts Dividend

The firm also recently disclosed a special dividend, which will be paid on Friday, November 6th. Stockholders of record on Monday, October 26th will be given a dividend of $1.50 per share. This is a drop from Vistance Networks’s previous special dividend of $5.00.

Insider Activity at Vistance Networks

In related news, CAO Charles A. Gilstrap acquired 10,000 shares of Vistance Networks stock in a transaction dated Monday, August 10th. The stock was acquired at an average price of $10.75 per share, for a total transaction of $107,500.00. Following the transaction, the chief accounting officer owned 302,417 shares of the company’s stock, valued at $3,250,982.75. This represents a 3.42% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director L. William Krause sold 23,864 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $6.27, for a total transaction of $149,627.28. Following the completion of the sale, the director directly owned 74,507 shares in the company, valued at $467,158.89. This trade represents a 24.26% decrease in their position. The SEC filing for this sale provides additional information. 3.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Vistance Networks

Several hedge funds have recently made changes to their positions in VISN. Persistent Asset Partners Ltd bought a new stake in shares of Vistance Networks during the 2nd quarter worth $29,000. Triumph Capital Management acquired a new position in Vistance Networks during the 2nd quarter valued at $32,000. SBI Securities Co. Ltd. increased its holdings in shares of Vistance Networks by 408.3% during the 3rd quarter. SBI Securities Co. Ltd. now owns 6,145 shares of the business services provider’s stock worth $37,000 after purchasing an additional 4,936 shares during the period. First Bancorp Inc ME bought a new position in shares of Vistance Networks during the 2nd quarter worth about $38,000. Finally, Pinnacle Holdings LLC acquired a new position in shares of Vistance Networks during the second quarter valued at about $48,000. Institutional investors and hedge funds 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.