Insider Buying: AudioCodes (NASDAQ:AUDC) CEO Acquires $42,300.00 in Stock

AudioCodes Ltd. (NASDAQ:AUDC) CEO Shabtai Adlersberg purchased 5,000 shares of AudioCodes stock in a transaction that occurred on Tuesday, November 10th. The stock was bought at an average cost of $8.46 per share, with a total value of $42,300.00. Following the completion of the transaction, the chief executive officer owned 4,983,192 shares of the company’s stock, valued at $42,157,804.32. The trade was a 0.10% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Shabtai Adlersberg also recently made the following trade(s):

• On Wednesday, November 11th, Shabtai Adlersberg acquired 2,000 shares of AudioCodes stock. The stock was bought at an average price of $8.67 per share, with a total value of $17,340.00.
• On Monday, November 9th, Shabtai Adlersberg acquired 10,000 shares of AudioCodes stock. The shares were purchased at an average cost of $8.38 per share, for a total transaction of $83,800.00.
• On Friday, November 6th, Shabtai Adlersberg acquired 5,939 shares of AudioCodes stock. The shares were purchased at an average cost of $7.87 per share, for a total transaction of $46,739.93.
• On Thursday, November 5th, Shabtai Adlersberg bought 10,000 shares of AudioCodes stock. The shares were purchased at an average price of $7.94 per share, for a total transaction of $79,400.00.

AudioCodes Price Performance

Shares of AUDC traded down $0.03 during midday trading on Friday, reaching $9.07. 90,287 shares of the stock were exchanged, compared to its average volume of 124,923. AudioCodes Ltd. has a twelve month low of $6.95 and a twelve month high of $11.74. The company has a market capitalization of $211.33 million, a price-to-earnings ratio of 29.26 and a beta of 0.98. The business’s 50-day moving average price is $10.37 and its 200 day moving average price is $9.32.

AudioCodes (NASDAQ:AUDC) last announced its earnings results on Wednesday, November 4th. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. The firm had revenue of $64.14 million during the quarter, compared to analysts’ expectations of $63.40 million. AudioCodes had a return on equity of 6.86% and a net margin of 3.16%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wall Street Zen cut AudioCodes from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 7th. Weiss Ratings restated a “hold (c)” rating on shares of AudioCodes in a research report on Monday, November 2nd. One analyst has rated the stock with a Hold rating. According to MarketBeat, the company currently has a consensus rating of “Hold”.

Hedge Funds Weigh In On AudioCodes

Several institutional investors have recently added to or reduced their stakes in AUDC. Bank of New York Mellon Corp lifted its position in shares of AudioCodes by 9.0% during the 1st quarter. Bank of New York Mellon Corp now owns 85,398 shares of the communications equipment provider’s stock valued at $718,000 after acquiring an additional 7,019 shares during the period. NewEdge Advisors LLC boosted its stake in shares of AudioCodes by 49.5% during the 1st quarter. NewEdge Advisors LLC now owns 25,607 shares of the communications equipment provider’s stock worth $215,000 after acquiring an additional 8,475 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of AudioCodes during the 2nd quarter worth approximately $111,000. AXQ Capital LP acquired a new stake in shares of AudioCodes in the 2nd quarter worth approximately $116,000. Finally, Heartland Advisors Inc. grew its holdings in shares of AudioCodes by 5.8% in the 3rd quarter. Heartland Advisors Inc. now owns 970,600 shares of the communications equipment provider’s stock worth $10,366,000 after acquiring an additional 52,950 shares during the period. Institutional investors and hedge funds own 68.05% of the company’s stock.

About AudioCodes

AudioCodes Ltd. develops voice networking and communications technology for businesses, service providers and contact centers. Founded in 1993 and headquartered in Or Yehuda, Israel, the company serves customers globally. Its offerings include session border controllers, media gateways, voice applications and IP phones, as well as software and cloud-based services for unified communications and contact centers. AudioCodes’ products help organizations connect voice communications across traditional telephone networks, IP networks and cloud platforms.