AudioCodes (NASDAQ:AUDC) CEO Acquires $46,739.93 in Stock

AudioCodes Ltd. (NASDAQ:AUDC) CEO Shabtai Adlersberg bought 5,939 shares of the firm’s stock in a transaction that occurred on Friday, November 6th. The shares were purchased at an average cost of $7.87 per share, with a total value of $46,739.93. Following the transaction, the chief executive officer directly owned 4,968,192 shares of the company’s stock, valued at $39,099,671.04. The trade was a 0.12% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Thursday, November 5th, Shabtai Adlersberg bought 10,000 shares of AudioCodes stock. The stock was purchased at an average price of $7.94 per share, with a total value of $79,400.00.

AudioCodes Trading Up 2.6%

NASDAQ AUDC opened at $8.66 on Thursday. The firm’s fifty day simple moving average is $10.41 and its two-hundred day simple moving average is $9.32. AudioCodes Ltd. has a 12-month low of $6.95 and a 12-month high of $11.74. The firm has a market capitalization of $201.75 million, a P/E ratio of 27.94 and a beta of 0.98.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Heartland Advisors Inc. lifted its holdings in shares of AudioCodes by 5.8% during the third quarter. Heartland Advisors Inc. now owns 970,600 shares of the communications equipment provider’s stock worth $10,366,000 after purchasing an additional 52,950 shares during the period. AXQ Capital LP acquired a new position in AudioCodes in the 2nd quarter worth approximately $116,000. Headlands Technologies LLC acquired a new position in AudioCodes in the 2nd quarter worth approximately $111,000. Public Employees Retirement System of Ohio acquired a new position in AudioCodes in the 2nd quarter worth approximately $592,000. Finally, NewEdge Advisors LLC raised its position in 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 buying an additional 8,475 shares during the last quarter. 68.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of AudioCodes in a research note on Monday, November 2nd. Wall Street Zen cut AudioCodes from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 7th. One research analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the company presently has an average rating of “Hold”.

AudioCodes Company Profile

AudioCodes Ltd. (NASDAQ: AUDC) is an Israeli provider of advanced voice and communications technologies for enterprises, service providers and telecommunications operators. The company develops solutions that enable organizations to deploy, manage and optimize business voice services across private, public and hybrid communications networks. Its portfolio includes session border controllers, media gateways, voice network products, professional services and cloud-based communications solutions. AudioCodes supports unified communications and collaboration environments, including integrations with platforms such as Microsoft Teams, while also offering tools for contact centers, voice quality monitoring, provisioning and communications management.