AudioCodes (NASDAQ:AUDC) EVP Sells $24,501.23 in Stock

AudioCodes Ltd. (NASDAQ:AUDC - Get Free Report) EVP Lior Aldema sold 2,813 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $8.71, for a total value of $24,501.23. Following the transaction, the executive vice president owned 75,940 shares in the company, valued at $661,437.40. The trade was a 3.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

AudioCodes Trading Down 1.4%

Shares of NASDAQ AUDC opened at $8.75 on Wednesday. AudioCodes Ltd. has a 1-year low of $6.95 and a 1-year high of $11.50. The firm has a market capitalization of $237.04 million, a P/E ratio of 28.23 and a beta of 0.97. The firm's 50-day moving average price is $8.36 and its 200-day moving average price is $8.60.

AudioCodes (NASDAQ:AUDC - Get Free Report) last issued its earnings results on Wednesday, February 4th. The communications equipment provider reported $0.16 earnings per share for the quarter, hitting analysts' consensus estimates of $0.16. AudioCodes had a return on equity of 6.46% and a net margin of 3.65%.The company had revenue of $62.61 million for the quarter, compared to analyst estimates of $62.00 million.

AudioCodes Announces Dividend

The business also recently disclosed a dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 20th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, February 20th. This represents a dividend yield of 552.0%. AudioCodes's dividend payout ratio is 129.03%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of AudioCodes from a "strong-buy" rating to a "buy" rating in a report on Saturday, February 7th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $12.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AUDC. Raymond James Financial Inc. purchased a new stake in AudioCodes in the 2nd quarter worth about $43,000. Barclays PLC boosted its position in AudioCodes by 3,621.4% during the fourth quarter. Barclays PLC now owns 7,294 shares of the communications equipment provider's stock worth $64,000 after purchasing an additional 7,098 shares during the period. Jump Financial LLC purchased a new position in shares of AudioCodes in the second quarter worth about $127,000. NewEdge Advisors LLC bought a new stake in shares of AudioCodes in the fourth quarter valued at approximately $150,000. Finally, SIH Partners LLLP bought a new stake in shares of AudioCodes in the third quarter valued at approximately $170,000. Institutional investors own 68.05% of the company's stock.

AudioCodes Company Profile

AudioCodes Ltd is a global provider of advanced voice networking and media processing solutions for enterprises and service providers. The company designs and manufactures a comprehensive portfolio of products, including session border controllers (SBCs), media gateways, IP phones, management and monitoring software, and cloud-based communications microservices. Its offerings support a wide range of unified communications (UC) and contact center deployments, enabling secure, high-quality voice connectivity across on-premises, hybrid and cloud environments.

Founded in 1993 and headquartered in Rosh Ha'Ayin, Israel, AudioCodes serves customers in North America, Europe, Asia-Pacific and Latin America.

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