Insider Buying: Audioeye (NASDAQ:AEYE) Director Purchases 12,359 Shares of Stock

Key Points

• Audioeye Director Jamil Tahir purchased 12,359 shares of stock at an average cost of $12.71 per share, increasing his ownership by 5.95%.
• Institutional investors have significantly increased their holdings, with 51.11% of the stock owned by hedge funds and institutional investors.
• Analysts maintain a consensus rating of "Buy" for Audioeye with a price target of $25.25 despite recent adjustments from some firms.

Audioeye, Inc. (NASDAQ:AEYE - Get Free Report) Director Jamil A. Tahir bought 12,359 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was purchased at an average price of $12.71 per share, for a total transaction of $157,082.89. Following the completion of the purchase, the director directly owned 220,000 shares in the company, valued at $2,796,200. The trade was a 5.95% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Audioeye Stock Performance

NASDAQ:AEYE traded down $0.13 during midday trading on Friday, reaching $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 current ratio of 1.10 and a quick ratio of 1.10. Audioeye, Inc. has a 1-year low of $8.91 and a 1-year high of $34.85. The firm's fifty day simple moving average is $12.20 and its 200-day simple moving average is $12.02. The stock has a market capitalization of $165.77 million, a P/E ratio of -39.29 and a beta of 0.67.

Hedge Funds Weigh In On Audioeye

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Two Sigma Investments LP bought a new position in Audioeye during the 4th quarter valued at about $380,000. Millennium Management LLC lifted its holdings in Audioeye by 17.4% during the 4th quarter. Millennium Management LLC now owns 42,288 shares of the company's stock valued at $643,000 after purchasing an additional 6,278 shares during the last quarter. Bank of America Corp DE lifted its holdings in Audioeye by 314.5% during the 4th quarter. Bank of America Corp DE now owns 59,206 shares of the company's stock valued at $901,000 after purchasing an additional 44,923 shares during the last quarter. Nuveen LLC bought a new position in Audioeye during the 1st quarter valued at about $815,000. Finally, Skylands Capital LLC lifted its holdings in Audioeye by 494.5% during the 1st quarter. Skylands Capital LLC now owns 80,550 shares of the company's stock valued at $894,000 after purchasing an additional 67,000 shares during the last quarter. 51.11% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of Audioeye from a "hold" rating to a "buy" rating in a report on Friday, September 5th. B. Riley reduced their price target on shares of Audioeye from $20.00 to $19.00 and set a "buy" rating for the company in a report on Friday, August 8th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Audioeye currently has a consensus rating of "Buy" and an average price target of $25.25.

About Audioeye

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.