Skylands Capital LLC Buys New Position in AudioEye, Inc. (NASDAQ:AEYE)

Skylands Capital LLC purchased a new position in shares of AudioEye, Inc. (NASDAQ:AEYE) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 13,550 shares of the company’s stock, valued at approximately $206,000.

A number of other hedge funds and other institutional investors have also modified their holdings of AEYE. R Squared Ltd acquired a new stake in AudioEye during the fourth quarter worth approximately $36,000. MetLife Investment Management LLC purchased a new position in shares of AudioEye during the 3rd quarter worth $54,000. Ieq Capital LLC acquired a new stake in shares of AudioEye during the fourth quarter worth $153,000. Barclays PLC grew its position in shares of AudioEye by 37.7% in the third quarter. Barclays PLC now owns 10,181 shares of the company’s stock valued at $233,000 after purchasing an additional 2,788 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in AudioEye by 345.4% during the third quarter. BNP Paribas Financial Markets now owns 11,202 shares of the company’s stock worth $256,000 after buying an additional 8,687 shares during the period. 51.11% of the stock is currently owned by hedge funds and other institutional investors.

AudioEye Trading Down 5.3 %

Shares of NASDAQ:AEYE opened at $14.40 on Tuesday. The stock has a 50-day simple moving average of $17.00 and a 200-day simple moving average of $21.16. AudioEye, Inc. has a 1 year low of $6.30 and a 1 year high of $34.85. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.92.

Insiders Place Their Bets

In related news, CEO David Moradi sold 900,000 shares of AudioEye stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $24.00, for a total transaction of $21,600,000.00. Following the transaction, the chief executive officer now owns 1,864,290 shares in the company, valued at approximately $44,742,960. The trade was a 32.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Carr Bettis sold 225,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $24.00, for a total transaction of $5,400,000.00. Following the sale, the insider now directly owns 200,045 shares of the company’s stock, valued at approximately $4,801,080. This trade represents a 52.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,250,000 shares of company stock worth $30,000,000 over the last ninety days. 40.70% of the stock is owned by company insiders.

Analyst Ratings Changes

AEYE has been the subject of several recent analyst reports. HC Wainwright lifted their price target on AudioEye from $28.00 to $37.00 and gave the company a “buy” rating in a report on Monday, November 11th. Roth Mkm restated a “buy” rating and issued a $35.00 target price (up from $25.00) on shares of AudioEye in a report on Friday, November 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price target on shares of AudioEye in a research report on Tuesday, January 21st. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $29.10.

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.