Key Points
- AudioCodes CEO Shabtai Adlersberg bought 5,939 shares at an average $7.87, spending about $46,740; he directly owns 4,968,192 shares after the purchase. He also bought 10,000 shares the previous day.
- AudioCodes reported quarterly EPS of $0.16, matching analyst expectations, while revenue of $64.14 million topped the $63.40 million consensus.
- MarketBeat reports an average analyst rating of Hold; one research firm maintained a Hold rating and another downgraded the stock from Strong Buy to Buy.
AudioCodes Ltd. (NASDAQ:AUDC - Get Free Report) CEO Shabtai Adlersberg acquired 5,939 shares of AudioCodes stock in a transaction that occurred on Friday, November 6th. The stock was acquired at an average price of $7.87 per share, with a total value of $46,739.93. Following the completion of the purchase, the chief executive officer directly owned 4,968,192 shares in the company, valued at $39,099,671.04. This represents a 0.12% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.
Shabtai Adlersberg also recently made the following trade(s):
- On Thursday, November 5th, Shabtai Adlersberg acquired 10,000 shares of AudioCodes stock. The shares were bought at an average cost of $7.94 per share, for a total transaction of $79,400.00.
AudioCodes Stock Up 8.3%
AUDC stock opened at $8.50 on Tuesday. The stock has a 50-day simple moving average of $10.47 and a two-hundred day simple moving average of $9.31. AudioCodes Ltd. has a twelve month low of $6.95 and a twelve month high of $11.74. The firm has a market capitalization of $205.28 million, a PE ratio of 20.74 and a beta of 0.98.
AudioCodes (NASDAQ:AUDC - Get Free Report) last posted its earnings results on Wednesday, November 4th. The communications equipment provider reported $0.16 earnings per share for the quarter, hitting analysts' consensus estimates of $0.16. AudioCodes had a net margin of 3.16% and a return on equity of 6.54%. The business had revenue of $64.14 million for the quarter, compared to analyst estimates of $63.40 million.
Hedge Funds Weigh In On AudioCodes
A number of large investors have recently added to or reduced their stakes in the business. Heartland Advisors Inc. increased its holdings 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 worth $8,122,000 after buying an additional 131,934 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in AudioCodes by 12.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 740,560 shares of the communications equipment provider's stock valued at $6,209,000 after acquiring an additional 82,016 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in AudioCodes during the 2nd quarter valued at about $592,000. AXQ Capital LP purchased a new stake in AudioCodes during the 2nd quarter valued at about $116,000. Finally, Headlands Technologies LLC bought a new position in AudioCodes during the 2nd quarter worth approximately $111,000. Hedge funds and other institutional investors own 68.05% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently weighed in on AUDC. Weiss Ratings restated a "hold (c)" rating on shares of AudioCodes in a research report on Monday, November 2nd. Wall Street Zen lowered shares of AudioCodes from a "strong-buy" rating to a "buy" rating in a research report on Saturday. One research analyst has rated the stock with a Hold rating. According to MarketBeat.com, AudioCodes currently has an average rating of "Hold".
Get Our Latest Analysis on AUDC
About AudioCodes
(
Get Free Report)
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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