Lombard Odier Asset Management Europe Ltd Makes New $2.83 Million Investment in Vistance Networks, Inc. $VISN

Lombard Odier Asset Management Europe Ltd bought a new position in shares of Vistance Networks, Inc. (NASDAQ:VISN) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 221,801 shares of the business services provider’s stock, valued at approximately $2,835,000.

A number of other institutional investors have also recently modified their holdings of VISN. BlackRock Inc. purchased a new position in shares of Vistance Networks in the 2nd quarter valued at about $319,679,000. Bank of America Corp DE purchased a new position in Vistance Networks during the second quarter worth approximately $73,146,000. Bank of New York Mellon Corp purchased a new position in Vistance Networks during the second quarter worth approximately $10,674,000. Empowered Funds LLC acquired a new stake in Vistance Networks in the second quarter valued at approximately $10,393,000. Finally, Algert Global LLC grew its holdings in 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 period. 88.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Vistance Networks

In other Vistance Networks news, CAO Charles A. Gilstrap purchased 10,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were purchased at an average cost of $10.75 per share, with a total value of $107,500.00. Following the completion of the purchase, the chief accounting officer owned 302,417 shares in the company, valued at approximately $3,250,982.75. This represents a 3.42% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 3.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

Vistance Networks Stock Performance

NASDAQ VISN opened at $6.06 on Friday. The business has a fifty day moving average price of $11.80 and a 200 day moving average price of $14.46. The company has a market cap of $1.40 billion, a P/E ratio of 0.20 and a beta of 2.36. Vistance Networks, Inc. has a one year low of $6.00 and a one year high of $20.55.

Vistance Networks Dividend Announcement

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

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.