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

Vistance Networks, Inc. (NASDAQ:VISN) shares 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. The stock had previously closed at $6.44.

Wall Street Analyst Weigh In

VISN has been the topic of several research analyst reports. Wall Street Zen raised shares of Vistance Networks from a “sell” rating to a “hold” rating in a research report on Sunday, August 30th. Weiss Ratings lowered shares of Vistance Networks from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, August 17th. Four research analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.33.

Vistance Networks Stock Performance

The stock has a market cap of $1.27 billion, a PE ratio of 5.76 and a beta of 2.57. The firm’s 50-day moving average is $6.24 and its 200 day moving average is $12.68.

Vistance Networks Cuts Dividend

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

Insiders Place Their Bets

In other Vistance Networks news, Director L. William Krause sold 23,864 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $6.27, for a total value of $149,627.28. Following the completion of the transaction, the director directly owned 74,507 shares in the company, valued at approximately $467,158.89. This represents a 24.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Charles A. Gilstrap purchased 10,000 shares of Vistance Networks stock in a transaction on Monday, August 10th. The stock was bought at an average price of $10.75 per share, with a total value of $107,500.00. Following the transaction, the chief accounting officer owned 302,417 shares of the company’s stock, valued at approximately $3,250,982.75. This represents a 3.42% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 3.50% of the company’s stock.

Institutional Trading of Vistance Networks

A number of hedge funds have recently bought and sold shares of the business. Persistent Asset Partners Ltd purchased a new position in Vistance Networks in the second quarter valued at approximately $29,000. Triumph Capital Management bought a new position in shares of Vistance Networks during the second quarter valued at approximately $32,000. SBI Securities Co. Ltd. grew its position in Vistance Networks by 408.3% in the 3rd quarter. SBI Securities Co. Ltd. now owns 6,145 shares of the business services provider’s stock valued at $37,000 after buying an additional 4,936 shares in the last quarter. First Bancorp Inc ME purchased a new stake in shares of Vistance Networks in the 2nd quarter valued at approximately $38,000. Finally, Pinnacle Holdings LLC bought a new stake in Vistance Networks in the second quarter worth $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.