Invst LLC bought a new stake in Vistance Networks, Inc. (NASDAQ:VISN – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 72,487 shares of the business services provider’s stock, valued at approximately $926,000.
A number of other hedge funds have also made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of Vistance Networks during the second quarter worth approximately $319,679,000. Bank of New York Mellon Corp acquired a new position in Vistance Networks in the 2nd quarter valued at approximately $10,674,000. Algert Global LLC increased its stake in Vistance Networks by 531.5% in the 2nd quarter. Algert Global LLC now owns 574,865 shares of the business services provider’s stock valued at $7,347,000 after buying an additional 483,840 shares during the period. Deutsche Bank AG purchased a new stake in Vistance Networks in the 2nd quarter worth approximately $4,662,000. Finally, III Capital Management purchased a new stake in Vistance Networks in the 2nd quarter worth approximately $3,469,000. 88.04% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, CAO Charles A. Gilstrap purchased 10,000 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were bought at an average cost of $10.75 per share, for a total transaction of $107,500.00. Following the transaction, the chief accounting officer directly owned 302,417 shares of the company’s stock, valued at approximately $3,250,982.75. This trade represents a 3.42% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.50% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
View Our Latest Stock Analysis on VISN
Vistance Networks Trading Up 1.8%
VISN opened at $11.04 on Wednesday. The business has a 50 day moving average of $11.98 and a 200-day moving average of $14.61. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 0.36 and a beta of 2.36. Vistance Networks, Inc. has a 1-year low of $9.47 and a 1-year high of $20.55.
Vistance Networks Announces Dividend
The business also recently announced a dividend, which will be paid on Thursday, August 27th. Investors of record on Monday, August 17th will be paid a dividend of $5.00 per share. The ex-dividend date is Friday, August 28th.
Vistance Networks 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.
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