Millennium Management LLC Has $123,000 Holdings in AudioCodes Ltd. (NASDAQ:AUDC)

Millennium Management LLC cut its holdings in AudioCodes Ltd. (NASDAQ:AUDC - Free Report) by 91.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,582 shares of the communications equipment provider's stock after selling 126,876 shares during the period. Millennium Management LLC's holdings in AudioCodes were worth $123,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Blue Trust Inc. lifted its position in AudioCodes by 151.8% during the fourth quarter. Blue Trust Inc. now owns 3,624 shares of the communications equipment provider's stock worth $35,000 after purchasing an additional 2,185 shares during the period. Norges Bank bought a new stake in AudioCodes during the fourth quarter worth about $120,000. Jane Street Group LLC bought a new stake in AudioCodes during the fourth quarter worth about $406,000. Bank of New York Mellon Corp lifted its position in AudioCodes by 2.8% during the fourth quarter. Bank of New York Mellon Corp now owns 52,309 shares of the communications equipment provider's stock worth $509,000 after purchasing an additional 1,419 shares during the period. Finally, Trexquant Investment LP lifted its position in AudioCodes by 41.7% during the fourth quarter. Trexquant Investment LP now owns 107,475 shares of the communications equipment provider's stock worth $1,047,000 after purchasing an additional 31,622 shares during the period. 68.05% of the stock is currently owned by institutional investors and hedge funds.

AudioCodes Trading Down 1.8%

AUDC opened at $8.90 on Friday. The company's 50 day moving average is $9.07 and its 200-day moving average is $9.82. AudioCodes Ltd. has a 1-year low of $7.70 and a 1-year high of $12.72. The company has a market cap of $264.15 million, a P/E ratio of 17.80 and a beta of 0.88.

Wall Street Analysts Forecast Growth

AUDC has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $12.50 price objective on shares of AudioCodes in a research report on Wednesday, May 7th. Wall Street Zen cut shares of AudioCodes from a "buy" rating to a "hold" rating in a research report on Saturday, June 7th.

AudioCodes Company 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.

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