Millennium Management LLC lessened its holdings in AudioCodes Ltd. (NASDAQ:AUDC - Free Report) by 91.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,582 shares of the communications equipment provider's stock after selling 126,876 shares during the quarter. Millennium Management LLC's holdings in AudioCodes were worth $123,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Value Base Ltd. bought a new position in shares of AudioCodes in the 4th quarter valued at $19,665,000. Arrowstreet Capital Limited Partnership raised its position in AudioCodes by 55.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 527,768 shares of the communications equipment provider's stock valued at $5,187,000 after purchasing an additional 188,074 shares during the last quarter. Jane Street Group LLC bought a new position in AudioCodes in the fourth quarter valued at about $406,000. Trexquant Investment LP boosted its stake in shares of AudioCodes by 41.7% during the fourth quarter. Trexquant Investment LP now owns 107,475 shares of the communications equipment provider's stock valued at $1,047,000 after purchasing an additional 31,622 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in shares of AudioCodes by 19.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 190,338 shares of the communications equipment provider's stock worth $1,854,000 after purchasing an additional 30,611 shares during the last quarter. Institutional investors own 68.05% of the company's stock.
Analyst Ratings Changes
A number of brokerages recently issued reports on AUDC. Wall Street Zen lowered shares of AudioCodes from a "buy" rating to a "hold" rating in a report on Saturday, June 7th. Needham & Company LLC reaffirmed a "buy" rating and set a $12.50 price target on shares of AudioCodes in a research note on Wednesday, May 7th.
Get Our Latest Research Report on AudioCodes
AudioCodes Stock Down 1.9%
AUDC traded down $0.18 during midday trading on Tuesday, hitting $9.12. 32,027 shares of the company were exchanged, compared to its average volume of 84,307. The firm's 50 day moving average price is $9.11 and its 200-day moving average price is $9.83. AudioCodes Ltd. has a 1-year low of $7.70 and a 1-year high of $12.72. The firm has a market capitalization of $270.68 million, a P/E ratio of 16.29 and a beta of 0.88.
AudioCodes Profile
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Free Report)
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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