UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires Shares of 533,242 Vistance Networks, Inc. $VISN

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Vistance Networks, Inc. (NASDAQ:VISN) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 533,242 shares of the business services provider’s stock, valued at approximately $6,815,000.

Several other institutional investors and hedge funds also recently modified their holdings of VISN. Persistent Asset Partners Ltd acquired a new stake in shares of Vistance Networks in the second quarter valued at about $29,000. First Bancorp Inc ME acquired a new position in Vistance Networks during the 2nd quarter worth approximately $38,000. Pinnacle Holdings LLC purchased a new position in Vistance Networks in the 2nd quarter worth approximately $48,000. Meeder Asset Management Inc. purchased a new position in Vistance Networks in the 2nd quarter worth approximately $56,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in Vistance Networks in the second quarter valued at approximately $76,000. Hedge funds and other institutional investors own 88.04% of the company’s stock.

Vistance Networks Stock Up 1.1%

Shares of NASDAQ VISN opened at $6.47 on Wednesday. Vistance Networks, Inc. has a fifty-two week low of $6.00 and a fifty-two week high of $20.55. The business has a 50 day moving average price of $10.92 and a two-hundred day moving average price of $13.79. The firm has a market cap of $1.49 billion, a PE ratio of 0.21 and a beta of 2.39.

Vistance Networks Announces Dividend

The business also recently declared a dividend, which was paid on Thursday, August 27th. Investors of record on Monday, August 17th were paid a $5.00 dividend. The ex-dividend date was Friday, August 28th.

Insiders Place Their Bets

In related news, CAO Charles A. Gilstrap purchased 10,000 shares of the business’s stock in a transaction that occurred on 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 acquisition, the chief accounting officer directly owned 302,417 shares of the company’s stock, valued at approximately $3,250,982.75. The trade was a 3.42% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director L William Krause sold 23,864 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $6.27, for a total transaction of $149,627.28. Following the transaction, the director owned 74,507 shares in the company, valued at $467,158.89. This trade represents a 24.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on VISN shares. 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. Zacks Research lowered shares of Vistance Networks from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Finally, Wall Street Zen raised shares of Vistance Networks from a “sell” rating to a “hold” rating in a research note on Sunday, August 30th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average 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.