149,910 Shares in Audioeye, Inc. $AEYE Purchased by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. acquired 149,910 shares of Audioeye, Inc. valued at approximately $1.66 million, representing a 1.20% stake in the company.
• Multiple institutional investors, including Nuveen LLC and Bank of America Corp DE, have recently increased their stakes in Audioeye, reflecting a growing interest in the company.
• Audioeye's stock is currently priced at $12.90, down 3.9%, with a consensus price target among analysts set at $25.25.

Jacobs Levy Equity Management Inc. purchased a new stake in Audioeye, Inc. (NASDAQ:AEYE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 149,910 shares of the company's stock, valued at approximately $1,664,000. Jacobs Levy Equity Management Inc. owned approximately 1.20% of Audioeye as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of AEYE. Nuveen LLC bought a new position in Audioeye in the first quarter valued at approximately $815,000. Skylands Capital LLC lifted its stake in Audioeye by 494.5% in the first quarter. Skylands Capital LLC now owns 80,550 shares of the company's stock valued at $894,000 after buying an additional 67,000 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in Audioeye in the fourth quarter valued at approximately $854,000. Arcadia Wealth Management Inc. bought a new position in Audioeye in the fourth quarter valued at approximately $720,000. Finally, Bank of America Corp DE lifted its stake in Audioeye by 314.5% in the fourth quarter. Bank of America Corp DE now owns 59,206 shares of the company's stock valued at $901,000 after buying an additional 44,923 shares in the last quarter. Institutional investors own 51.11% of the company's stock.

Wall Street Analysts Forecast Growth

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

Audioeye Stock Up 0.5%

AEYE traded up $0.06 during trading on Tuesday, reaching $13.35. 50,245 shares of the stock were exchanged, compared to its average volume of 83,178. The stock has a market cap of $165.67 million, a P/E ratio of -39.26 and a beta of 0.67. Audioeye, Inc. has a twelve month low of $8.91 and a twelve month high of $34.85. The stock's 50 day moving average price is $12.25 and its two-hundred day moving average price is $12.00. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.10 and a current ratio of 1.10.

Insider Activity

In related news, Director James B. Hawkins bought 8,000 shares of Audioeye stock in a transaction that occurred on Monday, August 18th. The stock was acquired at an average price of $10.95 per share, with a total value of $87,600.00. Following the acquisition, the director owned 146,183 shares of the company's stock, valued at approximately $1,600,703.85. This represents a 5.79% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jamil A. Tahir bought 12,641 shares of Audioeye stock in a transaction that occurred on Thursday, September 4th. The shares were bought at an average cost of $12.59 per share, with a total value of $159,150.19. Following the acquisition, the director directly owned 207,641 shares in the company, valued at $2,614,200.19. This trade represents a 6.48% increase in their position. The disclosure for this purchase can be found here. Insiders bought 33,000 shares of company stock worth $403,833 over the last three months. Insiders own 40.70% of the company's stock.

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.