AudioCodes (NASDAQ:AUDC) CEO Acquires 5,939 Shares of Company Stock

Key Points

• AudioCodes CEO Shabtai Adlersberg bought 5,939 shares at an average $7.87, investing about $46,740 and increasing his stake by 0.12%. He also purchased 10,000 shares the previous day.
• AudioCodes reported quarterly EPS of $0.16, matching analyst estimates, while revenue of $64.14 million exceeded expectations of $63.40 million.
• The stock had a consensus Hold rating; shares opened at $7.85, within a 52-week range of $6.95 to $11.74.

AudioCodes Ltd. (NASDAQ:AUDC - Get Free Report) CEO Shabtai Adlersberg acquired 5,939 shares of the firm's stock in a transaction on Friday, November 6th. The stock was purchased at an average price of $7.87 per share, with a total value of $46,739.93. Following the transaction, the chief executive officer owned 4,968,192 shares of the company's stock, valued at approximately $39,099,671.04. This trade represents a 0.12% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Shabtai Adlersberg also recently made the following trade(s):

• On Thursday, November 5th, Shabtai Adlersberg bought 10,000 shares of AudioCodes stock. The shares were purchased at an average cost of $7.94 per share, for a total transaction of $79,400.00.

AudioCodes Price Performance

NASDAQ:AUDC opened at $7.85 on Monday. AudioCodes Ltd. has a 52 week low of $6.95 and a 52 week high of $11.74. The stock's 50-day moving average price is $10.50 and its 200-day moving average price is $9.31. The stock has a market capitalization of $182.88 million, a PE ratio of 25.32 and a beta of 0.98.

AudioCodes (NASDAQ:AUDC - Get Free Report) last released its quarterly 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. The company had revenue of $64.14 million during the quarter, compared to analysts' expectations of $63.40 million. AudioCodes had a return on equity of 6.86% and a net margin of 3.16%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AUDC. Headlands Technologies LLC purchased a new position in AudioCodes in the 2nd quarter valued at about $111,000. AXQ Capital LP acquired a new stake in AudioCodes in the 2nd quarter worth about $116,000. NewEdge Advisors LLC increased its stake in AudioCodes by 49.5% during the 1st quarter. NewEdge Advisors LLC now owns 25,607 shares of the communications equipment provider's stock worth $215,000 after buying an additional 8,475 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in AudioCodes during the 2nd quarter worth approximately $592,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of AudioCodes by 9.0% during the first quarter. Bank of New York Mellon Corp now owns 85,398 shares of the communications equipment provider's stock valued at $718,000 after acquiring an additional 7,019 shares during the last quarter. Institutional investors and hedge funds own 68.05% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AUDC. Wall Street Zen cut shares of AudioCodes from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Weiss Ratings reissued a "hold (c)" rating on shares of AudioCodes in a report on Monday, November 2nd. One analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold".

About AudioCodes

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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