Assenagon Asset Management S.A. Invests $1.24 Million in AudioCodes Ltd. $AUDC

Assenagon Asset Management S.A. acquired a new stake in AudioCodes Ltd. (NASDAQ:AUDC) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 148,574 shares of the communications equipment provider’s stock, valued at approximately $1,238,000. Assenagon Asset Management S.A. owned 0.55% of AudioCodes as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in shares of AudioCodes during the 2nd quarter valued at approximately $43,000. Jane Street Group LLC boosted its position in AudioCodes by 14.2% during the first quarter. Jane Street Group LLC now owns 47,624 shares of the communications equipment provider’s stock worth $449,000 after purchasing an additional 5,938 shares in the last quarter. Engineers Gate Manager LP boosted its position in AudioCodes by 29.4% during the fourth quarter. Engineers Gate Manager LP now owns 26,871 shares of the communications equipment provider’s stock worth $235,000 after purchasing an additional 6,098 shares in the last quarter. Jump Financial LLC grew its holdings in AudioCodes by 24.0% in the fourth quarter. Jump Financial LLC now owns 34,955 shares of the communications equipment provider’s stock valued at $305,000 after purchasing an additional 6,755 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its holdings in AudioCodes by 56.0% in the first quarter. Cubist Systematic Strategies LLC now owns 19,646 shares of the communications equipment provider’s stock valued at $185,000 after purchasing an additional 7,052 shares during the last quarter. Hedge funds and other institutional investors own 68.05% of the company’s stock.

Analyst Ratings Changes

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

AudioCodes Trading Up 2.4%

Shares of AUDC stock opened at $9.91 on Thursday. The firm has a 50-day moving average price of $9.15 and a 200 day moving average price of $8.64. AudioCodes Ltd. has a twelve month low of $6.95 and a twelve month high of $11.50. The company 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 results 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). The firm had revenue of $62.14 million for the quarter, compared to analyst estimates of $61.50 million. AudioCodes had a return on equity of 6.33% and a net margin of 2.79%.

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.