Audioeye (NASDAQ:AEYE) Director Purchases $159,150.19 in Stock

Key Points

• Audioeye Director Jamil Tahir acquired 12,641 shares at an average price of $12.59, increasing his ownership stake by 6.48% to a total of 207,641 shares.
• The stock has a current trading price of $13.08 with a market capitalization of $162.32 million and a consensus rating of "Buy" from analysts.
• Recent institutional activity included significant purchases by several hedge funds, with 51.11% of Audioeye's stock now owned by institutional investors.

Audioeye, Inc. (NASDAQ:AEYE - Get Free Report) Director Jamil A. Tahir purchased 12,641 shares of Audioeye stock in a transaction that occurred on Thursday, September 4th. The stock was purchased at an average price of $12.59 per share, with a total value of $159,150.19. Following the transaction, the director owned 207,641 shares in the company, valued at $2,614,200.19. This represents a 6.48% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Audioeye Trading Down 1.0%

Shares of NASDAQ:AEYE traded down $0.13 during mid-day trading on Friday, hitting $13.36. The stock had a trading volume of 58,714 shares, compared to its average volume of 89,459. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.10 and a current ratio of 1.10. The company has a market cap of $165.77 million, a PE ratio of -39.29 and a beta of 0.67. Audioeye, Inc. has a 12-month low of $8.91 and a 12-month high of $34.85. The company's 50 day moving average is $12.20 and its 200-day moving average is $12.02.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Wasatch Advisors LP increased its stake in shares of Audioeye by 9.4% during the 2nd quarter. Wasatch Advisors LP now owns 1,341,510 shares of the company's stock worth $15,629,000 after purchasing an additional 115,579 shares during the last quarter. Formula Growth Ltd. increased its stake in shares of Audioeye by 30.0% during the 2nd quarter. Formula Growth Ltd. now owns 260,000 shares of the company's stock worth $3,029,000 after purchasing an additional 60,000 shares during the last quarter. Kennedy Capital Management LLC increased its stake in shares of Audioeye by 12.9% during the 2nd quarter. Kennedy Capital Management LLC now owns 195,609 shares of the company's stock worth $2,279,000 after purchasing an additional 22,370 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Audioeye during the 1st quarter worth $1,664,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of Audioeye by 20.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 108,392 shares of the company's stock worth $1,203,000 after purchasing an additional 18,513 shares during the last quarter. Institutional investors and hedge funds own 51.11% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AEYE shares. B. Riley dropped their price objective on shares of Audioeye from $20.00 to $19.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Wall Street Zen upgraded shares of Audioeye from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Audioeye currently has an average rating of "Buy" and a consensus price target of $25.25.

Audioeye Company Profile

AudioEye, Inc provides patented, internet content publication, distribution software, and related services to Internet and other media to people regardless of their device, location, or disabilities in the United States. Its software and services enable conversion of digital content into accessible formats and allows for real time distribution to end users on any Internet connected device.