AudioCodes (NASDAQ:AUDC) CEO Shabtai Adlersberg Purchases 10,000 Shares of Company Stock

AudioCodes Ltd. (NASDAQ:AUDC) CEO Shabtai Adlersberg purchased 10,000 shares of the stock in a transaction that occurred on Thursday, November 5th. The shares were bought at an average cost of $7.94 per share, for a total transaction of $79,400.00. Following the acquisition, the chief executive officer owned 4,962,253 shares of the company’s stock, valued at approximately $39,400,288.82. The trade was a 0.20% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, November 6th, Shabtai Adlersberg acquired 5,939 shares of AudioCodes stock. The shares were bought at an average cost of $7.87 per share, with a total value of $46,739.93.

AudioCodes Stock Performance

AudioCodes stock opened at $8.50 on Tuesday. The company has a market cap of $205.28 million, a P/E ratio of 20.74 and a beta of 0.98. AudioCodes Ltd. has a one year low of $6.95 and a one year high of $11.74. The business has a fifty day moving average of $10.47 and a two-hundred day moving average of $9.31.

AudioCodes (NASDAQ:AUDC) last released its quarterly earnings data on Wednesday, November 4th. The communications equipment provider reported $0.16 EPS 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 firm had revenue of $64.14 million for the quarter, compared to the consensus estimate of $63.40 million.

Analyst Ratings Changes

A number of brokerages recently commented 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 reiterated a “hold (c)” rating on shares of AudioCodes in a research report on Monday, November 2nd. One investment analyst has rated the stock with a Hold rating. According to MarketBeat, the company currently has an average rating of “Hold”.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AUDC. Heartland Advisors Inc. lifted its stake in shares of AudioCodes by 15.8% during the first quarter. Heartland Advisors Inc. now owns 965,734 shares of the communications equipment provider’s stock valued at $8,122,000 after buying an additional 131,934 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in AudioCodes by 12.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 740,560 shares of the communications equipment provider’s stock worth $6,209,000 after buying an additional 82,016 shares during the period. Bank of New York Mellon Corp lifted its position in 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 worth $718,000 after buying an additional 7,019 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of AudioCodes during the 2nd quarter valued at about $592,000. Finally, NewEdge Advisors LLC increased its stake in shares of AudioCodes by 49.5% during the 1st quarter. NewEdge Advisors LLC now owns 25,607 shares of the communications equipment provider’s stock valued at $215,000 after acquiring an additional 8,475 shares during the last quarter. 68.05% of the stock is currently owned by hedge funds and other institutional investors.

AudioCodes Company Profile

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.