AudioCodes Ltd. (NASDAQ:AUDC – Get Free Report)’s stock price crossed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $10.63 and traded as low as $10.18. AudioCodes shares last traded at $10.35, with a volume of 181,166 shares traded.
Analysts Set New Price Targets
Separately, Weiss Ratings restated a “hold (c)” rating on shares of AudioCodes in a report on Monday. One investment analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, the company has an average rating of “Hold”.
View Our Latest Research Report on AudioCodes
AudioCodes Stock Performance
The firm has a market cap of $249.95 million, a price-to-earnings ratio of 39.81 and a beta of 0.98. The stock has a 50-day moving average of $10.63 and a 200-day moving average of $9.32.
AudioCodes (NASDAQ:AUDC – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The communications equipment provider reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. AudioCodes had a net margin of 2.83% and a return on equity of 6.79%. The business had revenue of $62.96 million for the quarter, compared to analyst estimates of $62.40 million.
Insider Activity at AudioCodes
In related news, Director Zehava Simon sold 27,000 shares of AudioCodes stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $9.91, for a total transaction of $267,570.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lior Aldema sold 2,812 shares of AudioCodes stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $9.98, for a total value of $28,063.76. Following the transaction, the executive vice president owned 104,065 shares of the company’s stock, valued at $1,038,568.70. This represents a 2.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 39,562 shares of company stock valued at $393,201. 48.80% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Heartland Advisors Inc. grew its position in shares of AudioCodes by 15.8% in the first quarter. Heartland Advisors Inc. now owns 965,734 shares of the communications equipment provider’s stock valued at $8,122,000 after purchasing an additional 131,934 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of AudioCodes by 12.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 740,560 shares of the communications equipment provider’s stock worth $6,209,000 after acquiring an additional 82,016 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings 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 in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in AudioCodes during the 2nd quarter worth approximately $592,000. Finally, NewEdge Advisors LLC grew its position in shares of AudioCodes by 49.5% in the 1st quarter. NewEdge Advisors LLC now owns 25,607 shares of the communications equipment provider’s stock valued at $215,000 after buying an additional 8,475 shares during the last quarter. Institutional investors and hedge funds own 68.05% of the company’s stock.
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.
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