AudioCodes (NASDAQ:AUDC) Stock Moved Down to Buy by Wall Street Zen

Wall Street Zen cut shares of AudioCodes (NASDAQ:AUDC) from a strong-buy rating to a buy rating in a research note released on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of AudioCodes in a research report on Monday, November 2nd. One analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, AudioCodes presently has an average rating of “Hold”.

AudioCodes Stock Up 2.6%

Shares of NASDAQ:AUDC opened at $7.85 on Friday. AudioCodes has a 52-week low of $6.95 and a 52-week high of $11.74. The stock has a market cap of $182.91 million, a P/E ratio of 25.32 and a beta of 0.98. The business’s 50 day moving average is $10.50 and its 200 day moving average is $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 the consensus estimate of $0.16. The company had revenue of $64.14 million for the quarter, compared to the consensus estimate of $63.40 million. AudioCodes had a return on equity of 6.86% and a net margin of 3.16%.

Insider Buying and Selling

In other AudioCodes news, Director Zehava Simon sold 27,000 shares of AudioCodes stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $9.91, for a total value of $267,570.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Lior Aldema sold 2,812 shares of AudioCodes stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $9.98, for a total transaction of $28,063.76. Following the completion of the transaction, the executive vice president directly owned 104,065 shares in the company, valued at approximately $1,038,568.70. The trade was a 2.63% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 37,687 shares of company stock worth $374,545. Insiders own 48.80% of the company’s stock.

Institutional Investors Weigh In On AudioCodes

Several institutional investors have recently bought and sold shares of AUDC. Heartland Advisors Inc. increased its position 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 worth $8,122,000 after purchasing an additional 131,934 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of AudioCodes in the 2nd quarter worth $592,000. Arrowstreet Capital Limited Partnership boosted its position in shares of AudioCodes by 12.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 740,560 shares of the communications equipment provider’s stock worth $6,209,000 after purchasing an additional 82,016 shares in the last quarter. AXQ Capital LP purchased a new position in AudioCodes during the 2nd quarter worth $116,000. Finally, Headlands Technologies LLC purchased a new position in AudioCodes during the 2nd quarter worth $111,000. 68.05% of the stock is currently owned by institutional investors and hedge funds.

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.