Heartland Advisors Inc. trimmed its position in AudioCodes Ltd. (NASDAQ:AUDC – Free Report) by 19.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 833,800 shares of the communications equipment provider’s stock after selling 195,050 shares during the period. Heartland Advisors Inc. owned approximately 2.91% of AudioCodes worth $7,279,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of AudioCodes during the 2nd quarter valued at $43,000. Jump Financial LLC bought a new stake in shares of AudioCodes in the 2nd quarter worth $127,000. SIH Partners LLLP bought a new stake in shares of AudioCodes in the 3rd quarter worth $170,000. Cubist Systematic Strategies LLC raised its stake in shares of AudioCodes by 56.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 19,646 shares of the communications equipment provider’s stock worth $185,000 after buying an additional 7,052 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new stake in shares of AudioCodes in the 4th quarter worth $175,000. 68.05% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Separately, Wall Street Zen downgraded AudioCodes from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 30th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, AudioCodes has a consensus rating of “Hold”.
AudioCodes Price Performance
AUDC stock opened at $9.40 on Thursday. AudioCodes Ltd. has a 12 month low of $6.95 and a 12 month high of $11.50. The firm has a market cap of $239.23 million, a PE ratio of 37.60 and a beta of 0.97. The firm has a 50 day simple moving average of $9.01 and a 200 day simple moving average of $8.58.
AudioCodes (NASDAQ:AUDC – Get Free Report) last released its earnings results on Tuesday, May 5th. The communications equipment provider reported $0.14 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.02). AudioCodes had a net margin of 2.79% and a return on equity of 6.33%. The business had revenue of $62.14 million for the quarter, compared to analyst estimates of $61.50 million.
About AudioCodes
AudioCodes Ltd is a global provider of advanced voice networking and media processing solutions for enterprises and service providers. The company designs and manufactures a comprehensive portfolio of products, including session border controllers (SBCs), media gateways, IP phones, management and monitoring software, and cloud-based communications microservices. Its offerings support a wide range of unified communications (UC) and contact center deployments, enabling secure, high-quality voice connectivity across on-premises, hybrid and cloud environments.
Founded in 1993 and headquartered in Rosh Ha’Ayin, Israel, AudioCodes serves customers in North America, Europe, Asia-Pacific and Latin America.
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