Vistance Networks (NASDAQ:VISN) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Vistance Networks (NASDAQ:VISN) from a hold rating to a sell rating in a research note issued to investors on Saturday.

Several other brokerages also recently issued reports on VISN. Northland Securities set a $17.00 price objective on Vistance Networks in a research report on Friday, May 1st. Zacks Research downgraded Vistance Networks from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Finally, Weiss Ratings lowered Vistance Networks from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, August 17th. Four 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 an average price target of $19.33.

Vistance Networks Price Performance

Shares of VISN opened at $10.84 on Friday. Vistance Networks has a 12 month low of $9.47 and a 12 month high of $20.55. The stock has a fifty day moving average price of $12.01 and a 200 day moving average price of $14.66. The company has a market cap of $2.50 billion, a P/E ratio of 0.35 and a beta of 2.36.

Vistance Networks Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Thursday, August 27th. Shareholders of record on Monday, August 17th will be paid a dividend of $5.00 per share. The ex-dividend date of this dividend is Friday, August 28th.

Insiders Place Their Bets

In other news, CAO Charles A. Gilstrap bought 10,000 shares of the business’s stock in a transaction on Monday, August 10th. The shares were bought at an average cost of $10.75 per share, with a total value of $107,500.00. Following the purchase, the chief accounting officer directly owned 302,417 shares in the company, valued at $3,250,982.75. This trade represents a 3.42% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On Vistance Networks

Large investors have recently made changes to their positions in the business. Persistent Asset Partners Ltd purchased a new position in shares of Vistance Networks during the 2nd quarter valued at $29,000. Triumph Capital Management acquired a new stake in shares of Vistance Networks during the 2nd quarter valued at about $32,000. First Bancorp Inc ME acquired a new stake in shares of Vistance Networks during the 2nd quarter valued at about $38,000. Pinnacle Holdings LLC bought a new position in Vistance Networks during the second quarter valued at approximately $48,000. Finally, Nykredit A S acquired a new stake in Vistance Networks in the second quarter valued at approximately $54,000. Institutional investors and hedge funds own 88.04% of the company’s stock.

About Vistance Networks

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.