Vistance Networks (NASDAQ:VISN) Cut to Market Perform at Northland Securities

Northland Securities downgraded shares of Vistance Networks (NASDAQ:VISN) from an outperform rating to a market perform rating in a research report report published on Tuesday morning, Marketbeat reports. Northland Securities currently has $4.00 price objective on the business services provider’s stock.

A number of other equities analysts have also issued reports on VISN. Wall Street Zen raised Vistance Networks from a “sell” rating to a “hold” rating in a 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. Five research analysts have rated the stock with a Hold rating. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $15.00.

Vistance Networks Trading Down 1.5%

Shares of VISN opened at $4.00 on Tuesday. The company’s 50-day moving average price is $6.07 and its 200 day moving average price is $12.40. Vistance Networks has a 12-month low of $3.90 and a 12-month high of $20.55. The firm has a market cap of $814.36 million, a P/E ratio of 0.11 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. Stockholders of record on Monday, October 26th were 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, Director Claudius E. Iv Watts acquired 25,000 shares of Vistance Networks stock in a transaction that occurred on Thursday, November 12th. The stock was acquired at an average price of $4.00 per share, with a total value of $100,000.00. Following the completion of the acquisition, the director directly owned 1,597,729 shares of the company’s stock, valued at $6,390,916. This trade represents a 1.59% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 of the company’s stock, valued at $467,158.89. The trade was a 24.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have purchased 250,000 shares of company stock worth $1,030,250. Corporate insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Vistance Networks

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Trust Advisors LP boosted its stake in Vistance Networks by 1,358.6% during the 3rd quarter. First Trust Advisors LP now owns 14,520,886 shares of the business services provider’s stock valued at $86,835,000 after purchasing an additional 13,525,341 shares during the period. State Street Corp boosted its position in Vistance Networks by 10.6% in the 3rd quarter. State Street Corp now owns 7,970,687 shares of the business services provider’s stock valued at $47,665,000 after buying an additional 762,468 shares during the last quarter. Private Advisor Group LLC acquired a new position in shares of Vistance Networks during the third quarter valued at $82,000. Meeder Asset Management Inc. grew its position in shares of 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 worth $42,000 after buying an additional 2,686 shares during the period. Finally, Public Sector Pension Investment Board acquired a new position in Vistance Networks in the third quarter valued at approximately $3,354,000. Institutional investors own 88.04% of the company’s stock.

Vistance Networks Company Profile

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.