Vistance Networks (NASDAQ:VISN) Director Claudius Iv Watts Acquires 25,000 Shares of Company Stock

Vistance Networks, Inc. (NASDAQ:VISN) Director Claudius Iv Watts purchased 25,000 shares of the stock in a transaction on Thursday, November 12th. The stock was acquired at an average cost of $4.00 per share, with a total value of $100,000.00. Following the completion of the purchase, the director directly owned 1,597,729 shares of the company’s stock, valued at $6,390,916. The trade was a 1.59% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

Vistance Networks Price Performance

NASDAQ VISN traded down $0.06 during trading on Thursday, hitting $4.00. 7,564,426 shares of the company’s stock traded hands, compared to its average volume of 7,376,198. The stock has a fifty day moving average of $6.07 and a two-hundred day moving average of $12.40. Vistance Networks, Inc. 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 disclosed a special dividend, which was paid on Friday, November 6th. Stockholders of record on Monday, October 26th were issued a $1.50 dividend. This is a decrease from Vistance Networks’s previous special dividend of $5.00.

Wall Street Analyst Weigh In

VISN has been the subject of several analyst reports. Wall Street Zen upgraded Vistance Networks from a “sell” rating to a “hold” rating in a report on Sunday, August 30th. Weiss Ratings cut Vistance Networks from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, August 17th. Finally, Northland Securities cut Vistance Networks from an “outperform” rating to a “market perform” rating and set a $4.00 price target on the stock. in a research note on Tuesday. Five equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $15.00.

Institutional Investors Weigh In On Vistance Networks

A number of large investors have recently added to or reduced their stakes in the company. Persistent Asset Partners Ltd bought a new stake in Vistance Networks in the 2nd quarter worth $29,000. Triumph Capital Management purchased a new position in shares of Vistance Networks in the second quarter valued at about $32,000. SBI Securities Co. Ltd. raised its stake in shares of Vistance Networks by 408.3% during the third quarter. SBI Securities Co. Ltd. now owns 6,145 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 4,936 shares during the last quarter. First Bancorp Inc ME bought a new position in shares of Vistance Networks during the second quarter valued at about $38,000. Finally, Meeder Asset Management Inc. boosted its holdings in shares of Vistance Networks by 61.1% during the third quarter. Meeder Asset Management Inc. now owns 7,080 shares of the business services provider’s stock worth $42,000 after purchasing an additional 2,686 shares during the period. 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.