AudioCodes Ltd. (AUDC) Shares Sold by Mckinley Capital Management LLC Delaware
Mckinley Capital Management LLC Delaware lowered its stake in shares of AudioCodes Ltd. (NASDAQ:AUDC) by 43.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 185,012 shares of the communications equipment provider’s stock after selling 143,830 shares during the quarter. Mckinley Capital Management LLC Delaware owned about 0.59% of AudioCodes worth $1,108,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Campbell & CO Investment Adviser LLC increased its stake in shares of AudioCodes by 138.5% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 26,960 shares of the communications equipment provider’s stock valued at $161,000 after acquiring an additional 15,654 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of AudioCodes by 48.2% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 28,306 shares of the communications equipment provider’s stock valued at $198,000 after acquiring an additional 9,201 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of AudioCodes during the 1st quarter valued at about $202,000. First Trust Advisors LP increased its stake in shares of AudioCodes by 113.8% during the 1st quarter. First Trust Advisors LP now owns 40,963 shares of the communications equipment provider’s stock valued at $287,000 after acquiring an additional 21,807 shares during the last quarter. Finally, Menta Capital LLC increased its stake in shares of AudioCodes by 5.4% during the 2nd quarter. Menta Capital LLC now owns 57,048 shares of the communications equipment provider’s stock valued at $342,000 after acquiring an additional 2,900 shares during the last quarter. 22.01% of the stock is owned by institutional investors.
A number of research firms have recently commented on AUDC. Zacks Investment Research downgraded shares of AudioCodes from a “buy” rating to a “hold” rating in a research note on Monday, September 25th. TheStreet raised shares of AudioCodes from a “c+” rating to a “b-” rating in a research note on Thursday, September 7th. Finally, Northland Securities set a $7.00 price objective on shares of AudioCodes and gave the company a “hold” rating in a research note on Tuesday, July 4th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. AudioCodes has a consensus rating of “Buy” and an average target price of $7.50.
AudioCodes Ltd. (AUDC) opened at 7.14 on Friday. AudioCodes Ltd. has a 1-year low of $5.07 and a 1-year high of $7.26. The stock’s 50 day moving average is $6.77 and its 200-day moving average is $6.61. The firm has a market cap of $225.60 million, a P/E ratio of 13.27 and a beta of 0.61.
AudioCodes (NASDAQ:AUDC) last announced its quarterly earnings data on Wednesday, July 26th. The communications equipment provider reported $0.08 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.08. AudioCodes had a return on equity of 7.78% and a net margin of 11.95%. The firm had revenue of $38.70 million during the quarter, compared to analyst estimates of $38.23 million. During the same period last year, the company posted $0.06 EPS. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. Analysts forecast that AudioCodes Ltd. will post $0.35 EPS for the current year.
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AudioCodes Ltd. designs, develops and sells Voice over-Internet Protocol (VoIP) and converged VoIP, and data networking solutions, products and applications that facilitate Unified Communications (UC) and Contact Center (CC) services. The Company categorizes its products and services into two main business lines: network and technology.
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