AudioEye, Inc. (NASDAQ:AEYE) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its stake in shares of AudioEye, Inc. (NASDAQ:AEYE - Free Report) by 187.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,860 shares of the company's stock after buying an additional 30,556 shares during the quarter. Bank of New York Mellon Corp owned about 0.38% of AudioEye worth $713,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AEYE. Skylands Capital LLC acquired a new position in shares of AudioEye in the fourth quarter valued at approximately $206,000. Ieq Capital LLC purchased a new position in AudioEye in the 4th quarter valued at $153,000. R Squared Ltd acquired a new position in AudioEye in the 4th quarter valued at $36,000. Franklin Resources Inc. purchased a new position in AudioEye during the 3rd quarter worth $363,000. Finally, Barclays PLC lifted its stake in shares of AudioEye by 37.7% in the 3rd quarter. Barclays PLC now owns 10,181 shares of the company's stock worth $233,000 after acquiring an additional 2,788 shares during the period. Institutional investors and hedge funds own 51.11% of the company's stock.

AudioEye Price Performance

Shares of AEYE traded down $0.28 during mid-day trading on Friday, reaching $11.26. 72,766 shares of the company's stock were exchanged, compared to its average volume of 226,480. AudioEye, Inc. has a 52-week low of $8.44 and a 52-week high of $34.85. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.92. The company has a 50-day simple moving average of $15.17 and a two-hundred day simple moving average of $19.46. The company has a market cap of $139.77 million, a price-to-earnings ratio of -41.70, a PEG ratio of 2.03 and a beta of 1.11.

Remove Ads

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. HC Wainwright lowered their price target on shares of AudioEye from $37.00 to $22.00 and set a "buy" rating on the stock in a research note on Thursday, March 13th. Needham & Company LLC reissued a "buy" rating and set a $25.00 price target on shares of AudioEye in a research note on Thursday, March 13th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, AudioEye presently has a consensus rating of "Buy" and a consensus price target of $26.10.

Insider Activity

In related news, Director James B. Hawkins bought 13,300 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The shares were acquired at an average cost of $15.39 per share, with a total value of $204,687.00. Following the completion of the transaction, the director now owns 114,382 shares of the company's stock, valued at approximately $1,760,338.98. The trade was a 13.16 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 40.70% of the company's stock.

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.