Vistance Networks, Inc. (NASDAQ:VISN – Get Free Report) has been given an average recommendation of “Hold” by the five ratings firms that are presently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating. The average twelve-month price target among brokerages that have covered the stock in the last year is $15.00.
VISN has been the topic of several recent analyst reports. Northland Securities downgraded shares of Vistance Networks from an “outperform” rating to a “market perform” rating and set a $4.00 price objective on the stock. in a report on Tuesday. Weiss Ratings lowered Vistance Networks from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, August 17th. Finally, Wall Street Zen raised shares of Vistance Networks from a “sell” rating to a “hold” rating in a report on Sunday, August 30th.
Get Our Latest Analysis on VISN
Insider Transactions at Vistance Networks
In other Vistance Networks news, Director L. William Krause sold 23,864 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was 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 in the company, valued at approximately $467,158.89. The trade was a 24.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.50% of the company’s stock.
Institutional Trading of Vistance Networks
A number of institutional investors have recently made changes to their positions in the company. Algert Global LLC increased its holdings in shares of Vistance Networks by 531.5% in the second quarter. Algert Global LLC now owns 574,865 shares of the business services provider’s stock valued at $7,347,000 after purchasing an additional 483,840 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Vistance Networks during the second quarter worth about $10,674,000. Legal & General Group Plc purchased a new position in Vistance Networks during the second quarter worth about $2,610,000. State Street Corp purchased a new stake in shares of Vistance Networks in the 2nd quarter valued at approximately $92,121,000. Finally, HighTower Advisors LLC purchased a new stake in shares of Vistance Networks in the 2nd quarter valued at approximately $34,338,000. 88.04% of the stock is owned by institutional investors and hedge funds.
Vistance Networks Stock Performance
Shares of NASDAQ:VISN opened at $4.12 on Tuesday. The firm has a market cap of $950.20 million, a price-to-earnings ratio of 0.12 and a beta of 2.57. The firm has a fifty day moving average price of $6.20 and a 200 day moving average price of $12.61. Vistance Networks has a fifty-two week low of $4.02 and a fifty-two week high of $20.55.
Vistance Networks Cuts Dividend
The business also recently disclosed a special dividend, which was paid on Friday, November 6th. Shareholders of record on Monday, October 26th were issued a dividend of $1.50 per share. This is a decrease from Vistance Networks’s previous special dividend of $5.00.
About Vistance Networks
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.
Vistance Networks was formerly known as Comtech Telecommunications Corporation.
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