Vistance Networks (NASDAQ:VISN) Shares Gap Up – Time to Buy?

Vistance Networks, Inc. (NASDAQ:VISN)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $11.05, but opened at $11.61. Vistance Networks shares last traded at $11.4150, with a volume of 525,005 shares trading hands.

Wall Street Analyst Weigh In

VISN has been the subject of a number of recent analyst reports. Zacks Research downgraded shares of Vistance Networks from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Northland Securities set a $17.00 target price on Vistance Networks in a research report on Friday, May 1st. Wall Street Zen cut Vistance Networks from a “hold” rating to a “sell” rating in a research report on Saturday, August 22nd. Finally, Weiss Ratings downgraded Vistance Networks from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, August 17th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Vistance Networks currently has a consensus rating of “Hold” and a consensus price target of $19.33.

Vistance Networks Price Performance

The stock has a 50-day simple moving average of $11.95 and a 200 day simple moving average of $14.56. The company has a market capitalization of $2.65 billion, a PE ratio of 0.37 and a beta of 2.36.

Vistance Networks Announces Dividend

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

Insider Buying and Selling

In related news, CAO Charles A. Gilstrap bought 10,000 shares of the stock in a transaction on Monday, August 10th. The shares were purchased at an average price of $10.75 per share, for a total transaction of $107,500.00. Following the acquisition, the chief accounting officer owned 302,417 shares in the company, valued at $3,250,982.75. This represents a 3.42% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Vistance Networks

Several hedge funds have recently modified their holdings of VISN. Amundi acquired a new stake in Vistance Networks during the second quarter worth approximately $402,000. HighTower Advisors LLC acquired a new stake in shares of Vistance Networks in the second quarter worth approximately $34,338,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Vistance Networks in the second quarter worth approximately $180,000. California State Teachers Retirement System purchased a new stake in Vistance Networks in the second quarter valued at approximately $41,823,000. Finally, Concurrent Investment Advisors LLC purchased a new stake in Vistance Networks in the second quarter valued at approximately $136,000. 88.04% of the stock is owned by institutional investors and hedge funds.

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.