Mattern Wealth Management LLC Invests $285,000 in Audioeye, Inc. $AEYE

Key Points

• Mattern Wealth Management LLC invested $285,000 in Audioeye, Inc. by purchasing 24,483 shares during the second quarter, representing about 0.20% of the company.
• Several institutional investors, including Goldman Sachs and Skylands Capital, have significantly increased their positions in Audioeye, indicating growing interest in the stock.
• Audioeye currently has an average analyst rating of "Buy" with a price target of $25.25, reflecting positive sentiment among market analysts.

Mattern Wealth Management LLC purchased a new position in Audioeye, Inc. (NASDAQ:AEYE - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 24,483 shares of the company's stock, valued at approximately $285,000. Mattern Wealth Management LLC owned about 0.20% of Audioeye as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Jacobs Levy Equity Management Inc. bought a new position in shares of Audioeye in the 1st quarter worth $1,664,000. Goldman Sachs Group Inc. boosted its position in shares of Audioeye by 20.6% in 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. Skylands Capital LLC boosted its position in shares of Audioeye by 494.5% in the 1st quarter. Skylands Capital LLC now owns 80,550 shares of the company's stock worth $894,000 after purchasing an additional 67,000 shares during the last quarter. Nuveen LLC bought a new position in shares of Audioeye in the 1st quarter worth $815,000. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Audioeye by 6.4% in the 1st quarter. Cubist Systematic Strategies LLC now owns 59,692 shares of the company's stock worth $663,000 after purchasing an additional 3,577 shares during the last quarter. 51.11% of the stock is currently owned by institutional investors.

Audioeye Stock Performance

AEYE opened at $14.18 on Tuesday. The business's 50-day moving average price is $12.57 and its two-hundred day moving average price is $12.11. Audioeye, Inc. has a 1 year low of $8.91 and a 1 year high of $34.85. The company has a market capitalization of $175.97 million, a price-to-earnings ratio of -41.70 and a beta of 0.67. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.10 and a quick ratio of 1.10.

Analyst Ratings Changes

Several research analysts have recently issued reports on AEYE shares. B. Riley reduced their price target on 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 Audioeye from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Audioeye currently has an average rating of "Buy" and an average price target of $25.25.

Insider Activity

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

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