AudioCodes (NASDAQ:AUDC) CFO Niran Baruch Sells 1,875 Shares of Stock

AudioCodes Ltd. (NASDAQ:AUDC) CFO Niran Baruch sold 1,875 shares of the company’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $8.71, for a total value of $16,331.25. Following the sale, the chief financial officer owned 80,625 shares of the company’s stock, valued at approximately $702,243.75. The trade was a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

AudioCodes Stock Up 0.6%

AUDC stock opened at $8.80 on Thursday. The company has a market cap of $238.39 million, a price-to-earnings ratio of 28.39 and a beta of 0.97. The business has a fifty day simple moving average of $8.39 and a 200-day simple moving average of $8.61. AudioCodes Ltd. has a 52 week low of $6.95 and a 52 week high of $11.50.

AudioCodes (NASDAQ:AUDC) last released its quarterly earnings data on Wednesday, February 4th. The communications equipment provider reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The business had revenue of $62.61 million during the quarter, compared to the consensus estimate of $62.00 million. AudioCodes had a return on equity of 6.46% and a net margin of 3.65%.

AudioCodes Announces Dividend

The business also recently declared a dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 20th were issued a $0.20 dividend. This represents a yield of 552.0%. The ex-dividend date was Friday, February 20th. AudioCodes’s dividend payout ratio is currently 129.03%.

Hedge Funds Weigh In On AudioCodes

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AUDC. Raymond James Financial Inc. purchased a new position in AudioCodes in the 2nd quarter valued at about $43,000. Barclays PLC lifted its position in shares of AudioCodes by 3,621.4% during the fourth quarter. Barclays PLC now owns 7,294 shares of the communications equipment provider’s stock worth $64,000 after purchasing an additional 7,098 shares during the last quarter. Jump Financial LLC bought a new position in shares of AudioCodes during the second quarter worth about $127,000. NewEdge Advisors LLC bought a new position in shares of AudioCodes during the fourth quarter worth about $150,000. Finally, SIH Partners LLLP bought a new position in shares of AudioCodes during the third quarter worth about $170,000. 68.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded AudioCodes from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 7th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, AudioCodes has an average rating of “Hold” and a consensus target price of $12.50.

About AudioCodes

AudioCodes Ltd is a global provider of advanced voice networking and media processing solutions for enterprises and service providers. The company designs and manufactures a comprehensive portfolio of products, including session border controllers (SBCs), media gateways, IP phones, management and monitoring software, and cloud-based communications microservices. Its offerings support a wide range of unified communications (UC) and contact center deployments, enabling secure, high-quality voice connectivity across on-premises, hybrid and cloud environments.

Founded in 1993 and headquartered in Rosh Ha’Ayin, Israel, AudioCodes serves customers in North America, Europe, Asia-Pacific and Latin America.