Vistance Networks (NASDAQ:VISN) Director Claudius Iv Watts Buys 200,000 Shares of Stock

Vistance Networks, Inc. (NASDAQ:VISN) Director Claudius Iv Watts acquired 200,000 shares of the firm’s stock in a transaction on Monday, November 9th. The shares were bought at an average cost of $4.16 per share, for a total transaction of $832,000.00. Following the completion of the acquisition, the director owned 1,547,729 shares of the company’s stock, valued at approximately $6,438,552.64. This represents a 14.84% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Vistance Networks Stock Down 1.5%

Shares of NASDAQ VISN traded down $0.06 during trading on Thursday, hitting $4.00. The company had a trading volume of 7,564,426 shares, compared to its average volume of 7,376,198. The stock has a fifty day simple moving average of $6.07 and a two-hundred day simple moving average of $12.40. Vistance Networks, Inc. has a fifty-two week low of $3.90 and a fifty-two week high of $20.55. The firm has a market capitalization of $814.36 million, a price-to-earnings ratio of 5.49 and a beta of 2.57.

Vistance Networks Cuts Dividend

The business also recently declared a special dividend, which was paid on Friday, November 6th. Investors of record on Monday, October 26th were given a dividend of $1.50 per share. This is a decrease from Vistance Networks’s previous special dividend of $5.00.

Institutional Investors Weigh In On Vistance Networks

Hedge funds have recently modified their holdings of the business. Persistent Asset Partners Ltd purchased a new position in shares of Vistance Networks in the second quarter worth about $29,000. Triumph Capital Management acquired a new position in Vistance Networks during the second quarter worth about $32,000. SBI Securities Co. Ltd. boosted its position in Vistance Networks by 408.3% during the third quarter. SBI Securities Co. Ltd. now owns 6,145 shares of the business services provider’s stock worth $37,000 after acquiring an additional 4,936 shares during the last quarter. First Bancorp Inc ME acquired a new position in Vistance Networks during the second quarter worth about $38,000. Finally, Meeder Asset Management Inc. grew its stake in Vistance Networks by 61.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 7,080 shares of the business services provider’s stock valued at $42,000 after acquiring an additional 2,686 shares in the last quarter. 88.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

VISN has been the topic of a number of research reports. Northland Securities lowered shares of Vistance Networks from an “outperform” rating to a “market perform” rating and set a $4.00 price target on the stock. in a research note on Tuesday. Wall Street Zen upgraded Vistance Networks from a “sell” rating to a “hold” rating in a research note on Sunday, August 30th. Finally, Weiss Ratings cut Vistance Networks from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, August 17th. Five research analysts have rated the stock with a Hold rating. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $15.00.

About Vistance Networks

Vistance Networks develops and supplies communications technology for satellite, space, terrestrial and wireless networks. Its offerings include satellite modems and ground-station equipment, radio-frequency systems, and troposcatter communications technology used to connect networks where conventional infrastructure may be limited. The company also provides public-safety communications solutions, including technology for emergency calling, call handling and location services. Its customers include government and defense organizations, satellite and telecommunications operators, and public-safety agencies.