Macquarie Group Ltd. cut its position in AudioCodes (NASDAQ:AUDC) by 43.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,975 shares of the communications equipment provider’s stock after selling 42,898 shares during the period. Macquarie Group Ltd. owned 0.20% of AudioCodes worth $419,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. ARK Investment Management LLC acquired a new stake in shares of AudioCodes in the 4th quarter worth $227,000. Ramsey Quantitative Systems acquired a new stake in shares of AudioCodes in the fourth quarter valued at about $268,000. Millennium Management LLC lifted its stake in shares of AudioCodes by 197.0% in the fourth quarter. Millennium Management LLC now owns 139,814 shares of the communications equipment provider’s stock valued at $1,029,000 after purchasing an additional 92,732 shares during the period. Two Sigma Investments LP lifted its stake in shares of AudioCodes by 133.8% in the fourth quarter. Two Sigma Investments LP now owns 141,505 shares of the communications equipment provider’s stock valued at $1,041,000 after purchasing an additional 80,986 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of AudioCodes by 33.7% in the fourth quarter. Renaissance Technologies LLC now owns 301,700 shares of the communications equipment provider’s stock valued at $2,221,000 after purchasing an additional 76,049 shares during the period. 26.25% of the stock is currently owned by institutional investors.
AudioCodes stock opened at $7.09 on Thursday. The company has a market capitalization of $190.86, a P/E ratio of 22.19 and a beta of 0.37. The company has a quick ratio of 1.34, a current ratio of 1.71 and a debt-to-equity ratio of 0.07. AudioCodes has a 1 year low of $5.83 and a 1 year high of $8.43.
AudioCodes (NASDAQ:AUDC) last announced its quarterly earnings results on Wednesday, January 24th. The communications equipment provider reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The firm had revenue of $41.40 million for the quarter, compared to analysts’ expectations of $40.30 million. AudioCodes had a net margin of 2.57% and a return on equity of 9.82%. AudioCodes’s revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.08 earnings per share. research analysts predict that AudioCodes will post 0.3 earnings per share for the current year.
Several equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of AudioCodes from a “hold” rating to a “buy” rating and set a $8.50 target price for the company in a report on Tuesday, January 30th. Needham & Company LLC restated a “buy” rating and set a $9.00 target price (up from $8.50) on shares of AudioCodes in a report on Thursday, January 25th. Finally, William Blair reiterated an “outperform” rating on shares of AudioCodes in a report on Wednesday, January 24th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $8.08.
AudioCodes Company Profile
AudioCodes Ltd. designs, develops, and sells Voice over IP (VoIP), converged VoIP, and data networking products and applications for enterprise unified communications, contact centers, service provider business services, mobile VoIPs, and cloud virtualized data centers worldwide. It deploys its products through broadband, mobile, cable, and enterprise networks.
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