Focus Financial Network Inc. Invests $574,000 in Audioeye, Inc. $AEYE

Key Points

• Focus Financial Network Inc. has acquired 49,247 shares of Audioeye, Inc. (NASDAQ: AEYE), valued at approximately $574,000, giving it a 0.40% ownership stake in the company.
• Analyst ratings for Audioeye have been positive, with B. Riley setting a target price of $19.00 and four analysts rating the stock as a Buy, with an average target price of $25.25.
• Insiders have been actively buying shares, with Director Jamil A. Tahir purchasing 12,641 shares for approximately $159,150, increasing his ownership stake by 6.48%.

Focus Financial Network Inc. bought a new position in shares of Audioeye, Inc. (NASDAQ:AEYE - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 49,247 shares of the company's stock, valued at approximately $574,000. Focus Financial Network Inc. owned approximately 0.40% of Audioeye as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. US Bancorp DE increased its stake in shares of Audioeye by 3,634.2% during the first quarter. US Bancorp DE now owns 2,950 shares of the company's stock worth $33,000 after purchasing an additional 2,871 shares in the last quarter. CWM LLC increased its stake in shares of Audioeye by 74.0% during the first quarter. CWM LLC now owns 4,870 shares of the company's stock worth $54,000 after purchasing an additional 2,071 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Audioeye by 19.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,904 shares of the company's stock worth $54,000 after purchasing an additional 806 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Audioeye by 44,300.0% during the first quarter. GAMMA Investing LLC now owns 7,992 shares of the company's stock worth $89,000 after purchasing an additional 7,974 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Audioeye by 14.5% during the first quarter. Rhumbline Advisers now owns 10,360 shares of the company's stock worth $115,000 after purchasing an additional 1,313 shares in the last quarter. Hedge funds and other institutional investors own 51.11% of the company's stock.

Audioeye Trading Down 0.2%

Shares of Audioeye stock traded down $0.03 during mid-day trading on Tuesday, hitting $14.14. The stock had a trading volume of 50,891 shares, compared to its average volume of 131,107. The firm has a 50-day moving average of $12.38 and a two-hundred day moving average of $12.03. Audioeye, Inc. has a 12-month low of $8.91 and a 12-month high of $34.85. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.74. The firm has a market cap of $175.42 million, a P/E ratio of -41.57 and a beta of 0.67.

Insider Activity at Audioeye

In other news, Director Jamil A. Tahir purchased 12,359 shares of the company's stock in a transaction dated Friday, September 5th. The stock was acquired at an average price of $12.71 per share, with a total value of $157,082.89. Following the purchase, the director directly owned 220,000 shares in the company, valued at approximately $2,796,200. This represents a 5.95% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James B. Hawkins purchased 8,000 shares of the company's stock in a transaction dated Monday, August 18th. The stock was purchased at an average cost of $10.95 per share, with a total value of $87,600.00. Following the purchase, the director owned 146,183 shares in the company, valued at approximately $1,600,703.85. This trade represents a 5.79% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders bought 33,000 shares of company stock valued at $403,833. Corporate insiders own 40.70% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on AEYE. B. Riley cut their target price on shares of Audioeye from $20.00 to $19.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Wall Street Zen raised shares of Audioeye from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $25.25.

Audioeye 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.