AudioCodes Ltd. (NASDAQ:AUDC) Shares Sold by Y.D. More Investments Ltd

Y.D. More Investments Ltd lessened its holdings in AudioCodes Ltd. (NASDAQ:AUDC) by 85.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,545 shares of the communications equipment provider’s stock after selling 127,569 shares during the quarter. Y.D. More Investments Ltd’s holdings in AudioCodes were worth $213,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Senvest Management LLC grew its holdings in AudioCodes by 1.5% during the third quarter. Senvest Management LLC now owns 2,580,448 shares of the communications equipment provider’s stock worth $25,108,000 after acquiring an additional 37,080 shares during the period. Assenagon Asset Management S.A. purchased a new stake in AudioCodes in the 3rd quarter worth approximately $1,618,000. JPMorgan Chase & Co. boosted its position in AudioCodes by 95.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 104,037 shares of the communications equipment provider’s stock worth $1,012,000 after purchasing an additional 50,704 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of AudioCodes by 11.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 91,287 shares of the communications equipment provider’s stock worth $893,000 after purchasing an additional 9,150 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of AudioCodes during the 3rd quarter valued at approximately $595,000. 68.05% of the stock is owned by hedge funds and other institutional investors.

AudioCodes Stock Performance

AudioCodes stock opened at $11.36 on Thursday. The stock has a market capitalization of $343.27 million, a P/E ratio of 28.40 and a beta of 0.80. The company’s fifty day moving average price is $9.86 and its 200 day moving average price is $9.80. AudioCodes Ltd. has a 1 year low of $7.70 and a 1 year high of $14.45.

AudioCodes (NASDAQ:AUDC) last announced its earnings results on Tuesday, February 4th. The communications equipment provider reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.09. AudioCodes had a net margin of 4.99% and a return on equity of 8.85%. Sell-side analysts predict that AudioCodes Ltd. will post 0.51 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AUDC. Needham & Company LLC increased their price target on shares of AudioCodes from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Wednesday. Barclays increased their target price on shares of AudioCodes from $9.00 to $10.00 and gave the stock an “underweight” rating in a research note on Wednesday. Finally, StockNews.com upgraded AudioCodes from a “buy” rating to a “strong-buy” rating in a research note on Wednesday.

About AudioCodes

AudioCodes Ltd. provides advanced communications software, products, and productivity solutions for the digital workplace worldwide. The company offers solutions, products, and services for unified communications, contact centers, hosted business services, Voice.AI, and service provider businesses. Its products include session border controllers, life cycle management solutions, VoIP network routing solutions, media gateways and servers, multi-service business routers, IP phones solutions, and value-added applications, as well as professional services.