III Capital Management Makes New $3.47 Million Investment in Vistance Networks, Inc. $VISN

III Capital Management purchased a new stake in Vistance Networks, Inc. (NASDAQ:VISN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 271,443 shares of the business services provider’s stock, valued at approximately $3,469,000. Vistance Networks makes up about 0.9% of III Capital Management’s investment portfolio, making the stock its 11th largest holding.

A number of other hedge funds have also modified their holdings of VISN. Persistent Asset Partners Ltd acquired a new position in shares of Vistance Networks during the 2nd quarter worth approximately $29,000. Pinnacle Holdings LLC acquired a new stake in Vistance Networks during the 2nd quarter valued at $48,000. Meeder Asset Management Inc. purchased a new position in Vistance Networks during the second quarter worth $56,000. C M Bidwell & Associates Ltd. purchased a new position in Vistance Networks during the second quarter worth $76,000. Finally, Quantbot Technologies LP acquired a new position in shares of Vistance Networks in the second quarter worth $150,000. 88.04% of the stock is owned by hedge funds and other institutional investors.

Vistance Networks Stock Up 1.8%

Shares of NASDAQ:VISN opened at $11.04 on Wednesday. The company has a market cap of $2.55 billion, a P/E ratio of 0.36 and a beta of 2.36. Vistance Networks, Inc. has a 52 week low of $9.47 and a 52 week high of $20.55. The business has a fifty day simple moving average of $11.98 and a 200-day simple moving average of $14.61.

Vistance Networks Dividend Announcement

The firm also recently declared a dividend, which will be paid on Thursday, August 27th. Shareholders of record on Monday, August 17th will be paid a $5.00 dividend. The ex-dividend date of this dividend is Friday, August 28th.

Insider Buying and Selling

In other Vistance Networks news, CAO Charles A. Gilstrap purchased 10,000 shares of the stock in a transaction on Monday, August 10th. The stock was bought at an average price of $10.75 per share, for a total transaction of $107,500.00. Following the acquisition, the chief accounting officer directly owned 302,417 shares of the company’s stock, valued at $3,250,982.75. This represents a 3.42% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 3.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Northland Securities set a $17.00 price objective on Vistance Networks in a research note on Friday, May 1st. Weiss Ratings downgraded shares of Vistance Networks from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, August 17th. Wall Street Zen lowered shares of Vistance Networks from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Zacks Research cut shares of Vistance Networks from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $19.33.

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.