2,686,869 Shares in Vistance Networks, Inc. $VISN Acquired by HighTower Advisors LLC

HighTower Advisors LLC acquired a new stake in Vistance Networks, Inc. (NASDAQ:VISN) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 2,686,869 shares of the business services provider’s stock, valued at approximately $34,338,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Persistent Asset Partners Ltd purchased a new position in shares of Vistance Networks in the second quarter worth $29,000. Triumph Capital Management purchased a new position in Vistance Networks in the 2nd quarter worth about $32,000. First Bancorp Inc ME purchased a new position in Vistance Networks in the 2nd quarter worth about $38,000. Pinnacle Holdings LLC bought a new position in Vistance Networks during the 2nd quarter valued at about $48,000. Finally, Nykredit A S bought a new position in Vistance Networks during the 2nd quarter valued at about $54,000. Institutional investors own 88.04% of the company’s stock.

Insider Activity at Vistance Networks

In related news, Director L William Krause sold 176,136 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $6.75, for a total value of $1,188,918.00. Following the transaction, the director owned 98,371 shares of the company’s stock, valued at approximately $664,004.25. This trade represents a 64.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Charles A. Gilstrap bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were acquired at an average price of $10.75 per share, with a total value of $107,500.00. Following the completion of the transaction, the chief accounting officer directly owned 302,417 shares of the company’s stock, valued at $3,250,982.75. This trade represents a 3.42% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 3.50% of the stock is owned by corporate insiders.

Vistance Networks Stock Performance

VISN stock opened at $6.47 on Wednesday. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 0.21 and a beta of 2.39. The business’s 50-day moving average is $10.92 and its two-hundred day moving average is $13.79. Vistance Networks, Inc. has a fifty-two week low of $6.00 and a fifty-two week high of $20.55.

Vistance Networks Announces Dividend

The firm also recently disclosed a dividend, which was paid on Thursday, August 27th. Stockholders of record on Monday, August 17th were paid a $5.00 dividend. The ex-dividend date was Friday, August 28th.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on VISN. Wall Street Zen raised shares of Vistance Networks from a “sell” rating to a “hold” rating in a report on Sunday, August 30th. Zacks Research cut shares of Vistance Networks from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Finally, Weiss Ratings downgraded shares of 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, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $19.33.

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.