04 Feb Doctor Jonathan Cartu Announces – ARK Investment Management LLC Has $496,000 Position in…
ARK Investment Management LLC cut its holdings in shares of AudioCodes Ltd. (NASDAQ:AUDC) by 32.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,300 shares of the communications equipment provider’s stock after selling 9,166 shares during the quarter. ARK Investment Management LLC owned about 0.07% of AudioCodes worth $496,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Yorktown Management & Research Co Inc increased its holdings in shares of AudioCodes by 4.9% during the 4th quarter. Yorktown Management & Research Co Inc now owns 43,000 shares of the communications equipment provider’s stock worth $1,105,000 after acquiring an additional 2,000 shares during the last quarter. Millennium Management LLC acquired a new position in shares of AudioCodes during the 3rd quarter worth approximately $411,000. Squarepoint Ops LLC increased its holdings in shares of AudioCodes by 105.1% during the 3rd quarter. Squarepoint Ops LLC now owns 73,622 shares of the communications equipment provider’s stock worth $1,392,000 after acquiring an additional 37,722 shares during the last quarter. Phoenix Holdings Ltd. acquired a new position in shares of AudioCodes during the 3rd quarter worth approximately $6,142,000. Finally, Virtu Financial LLC acquired a new position in shares of AudioCodes during the 3rd quarter worth approximately $665,000. 32.31% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ AUDC opened at $21.13 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.36 and a quick ratio of 1.36. The stock’s fifty day moving average price is $25.66 and its two-hundred day moving average price is $21.25. AudioCodes Ltd. has a one year low of $12.52 and a one year high of $28.73. The firm has a market cap of $625.51 million, a price-to-earnings ratio of 176.10 and a beta of 0.59.
AudioCodes (NASDAQ:AUDC) last issued its quarterly earnings data on Tuesday, January 28th. The communications equipment provider reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. AudioCodes had a return on equity of 24.11% and a net margin of 1.99%. The firm had revenue of $52.80 million for the quarter.
A number of research analysts recently weighed in on the company. Sidoti assumed coverage on AudioCodes in a report on Thursday, January 16th. They set a “buy” rating and a $34.00 target price on the stock. ValuEngine lowered AudioCodes from a “hold” rating to a “sell” rating in a report on Tuesday, December 3rd. TheStreet lowered AudioCodes from an “a-” rating to a “c+” rating in a report on Tuesday, January 28th. Finally, BidaskClub lowered AudioCodes from a “strong-buy” rating to a “buy” rating in a report on Saturday. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $27.00.
AudioCodes Company Profile
AudioCodes Ltd. designs, develops, and sells voice over IP (VoIP), converged VoIP, and data networking solutions, products, and applications for enterprise unified communications, contact centers, service provider business services, mobile VoIP, and cloud virtualized data centers worldwide. The company’s products include IP phones, session border controllers (SBC), media gateways, multi-service business routers, huddle room solutions, managed IP Phones, and survivable branch appliances; CloudBond 365, an adaptable solution for the data center, customer premises or the branch; CloudBond 365 CCE appliances; User Management Pack 365, a software management application; VoIP management and routing, a suite of lifecycle applications for large scale cloud or premises-based unified communications deployments.
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