Assenagon Asset Management S.A. Buys New Shares in AudioCodes Ltd. $AUDC

Assenagon Asset Management S.A. bought a new position in shares of AudioCodes Ltd. (NASDAQ:AUDC) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 148,574 shares of the communications equipment provider’s stock, valued at approximately $1,238,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. NewEdge Advisors LLC purchased a new stake in AudioCodes in the fourth quarter valued at approximately $150,000. XTX Topco Ltd purchased a new position in AudioCodes during the fourth quarter worth approximately $202,000. Quadrature Capital Ltd purchased a new position in AudioCodes during the fourth quarter worth approximately $229,000. Millennium Management LLC boosted its holdings in shares of AudioCodes by 101.6% in the 4th quarter. Millennium Management LLC now owns 284,951 shares of the communications equipment provider’s stock valued at $2,488,000 after purchasing an additional 143,632 shares during the last quarter. Finally, Engineers Gate Manager LP boosted its holdings in shares of AudioCodes by 29.4% in the 4th quarter. Engineers Gate Manager LP now owns 26,871 shares of the communications equipment provider’s stock valued at $235,000 after purchasing an additional 6,098 shares during the last quarter. 68.05% of the stock is owned by institutional investors and hedge funds.

AudioCodes Stock Performance

NASDAQ AUDC opened at $9.91 on Thursday. AudioCodes Ltd. has a one year low of $6.95 and a one year high of $11.50. The company’s 50 day moving average price is $9.15 and its 200 day moving average price is $8.64. The firm has a market capitalization of $252.21 million, a price-to-earnings ratio of 39.64 and a beta of 0.96.

AudioCodes (NASDAQ:AUDC) last released its quarterly earnings data on Tuesday, May 5th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). AudioCodes had a return on equity of 6.33% and a net margin of 2.79%.The business had revenue of $62.14 million for the quarter, compared to analysts’ expectations of $61.50 million.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded AudioCodes from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 27th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, AudioCodes currently has an average rating of “Hold”.

AudioCodes Company Profile

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.