AudioCodes Ltd. $AUDC Stock Position Reduced by ARK Investment Management LLC

ARK Investment Management LLC lessened its position in shares of AudioCodes Ltd. (NASDAQ:AUDC) by 1.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 182,945 shares of the communications equipment provider’s stock after selling 2,172 shares during the period. ARK Investment Management LLC owned about 0.62% of AudioCodes worth $1,797,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the stock. Goldman Sachs Group Inc. bought a new stake in shares of AudioCodes in the 1st quarter worth approximately $412,000. Jane Street Group LLC lifted its holdings in shares of AudioCodes by 14.2% in the 1st quarter. Jane Street Group LLC now owns 47,624 shares of the communications equipment provider’s stock worth $449,000 after purchasing an additional 5,938 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings 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 purchasing an additional 7,052 shares during the last quarter. Trexquant Investment LP lifted its holdings in shares of AudioCodes by 24.5% in the 1st quarter. Trexquant Investment LP now owns 133,791 shares of the communications equipment provider’s stock worth $1,260,000 after purchasing an additional 26,316 shares during the last quarter. Finally, Walleye Capital LLC lifted its holdings in shares of AudioCodes by 4.9% in the 1st quarter. Walleye Capital LLC now owns 241,131 shares of the communications equipment provider’s stock worth $2,271,000 after purchasing an additional 11,324 shares during the last quarter. Institutional investors own 68.05% of the company’s stock.

AudioCodes Stock Down 1.8%

Shares of NASDAQ AUDC opened at $8.93 on Thursday. The stock has a market capitalization of $256.11 million, a price-to-earnings ratio of 19.84 and a beta of 0.96. The stock’s fifty day simple moving average is $9.63 and its 200 day simple moving average is $9.48. AudioCodes Ltd. has a 52-week low of $7.70 and a 52-week high of $12.72.

AudioCodes Dividend Announcement

The firm also recently declared a half year 25 dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were issued a dividend of $0.20 per share. The ex-dividend date was Thursday, August 14th. This represents a dividend yield of 350.0%. AudioCodes’s payout ratio is currently 88.89%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AUDC. Zacks Research raised AudioCodes from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of AudioCodes in a research note on Wednesday, October 8th. Finally, Wall Street Zen downgraded AudioCodes from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $11.25.

AudioCodes Profile

AudioCodes Ltd. provides advanced communications software, products, and productivity solutions for the digital workplace worldwide. The company offers solutions, products, and services for unified communications, contact centers, hosted business services, Voice.AI, and service provider businesses. Its products include session border controllers, life cycle management solutions, VoIP network routing solutions, media gateways and servers, multi-service business routers, IP phones solutions, and value-added applications, as well as professional services.