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 Tahir bought 12,359 shares of the firm's stock in a transaction on Friday, September 5th. The stock was purchased at an average cost of $12.71 per share, with a total value of $157,082.89. Following the completion of the acquisition, the director directly owned 220,000 shares of the company's stock, valued at approximately $2,796,200. The trade was a 5.95% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Audioeye Stock Performance

NASDAQ AEYE traded up $0.20 during trading hours on Monday, hitting $13.08. 78,177 shares of the company's stock traded hands, compared to its average volume of 133,359. The firm has a market capitalization of $162.32 million, a P/E ratio of -38.47 and a beta of 0.67. Audioeye, Inc. has a 52 week low of $8.91 and a 52 week high of $34.85. The business's fifty day moving average price is $12.05 and its two-hundred day moving average price is $12.02. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.74.

Institutional Investors Weigh In On Audioeye

Hedge funds have recently modified their holdings of the stock. US Bancorp DE raised its stake in shares of Audioeye by 3,634.2% during the 1st quarter. US Bancorp DE now owns 2,950 shares of the company's stock worth $33,000 after buying an additional 2,871 shares during the last quarter. CWM LLC lifted its stake in shares of Audioeye by 74.0% in the 1st quarter. CWM LLC now owns 4,870 shares of the company's stock valued at $54,000 after purchasing an additional 2,071 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Audioeye by 19.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,904 shares of the company's stock valued at $54,000 after buying an additional 806 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Audioeye by 30.0% during the 4th quarter. Wells Fargo & Company MN now owns 4,485 shares of the company's stock valued at $68,000 after buying an additional 1,035 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Audioeye by 44,300.0% during the 1st quarter. GAMMA Investing LLC now owns 7,992 shares of the company's stock worth $89,000 after purchasing an additional 7,974 shares during the last quarter. 51.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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