Russell Investments Group Ltd. Boosts Position in AudioEye, Inc. (NASDAQ:AEYE)

Russell Investments Group Ltd. lifted its stake in AudioEye, Inc. (NASDAQ:AEYE - Free Report) by 114,452.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 63,004 shares of the company's stock after acquiring an additional 62,949 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.52% of AudioEye worth $958,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AEYE. R Squared Ltd acquired a new position in shares of AudioEye during the 4th quarter worth approximately $36,000. Wells Fargo & Company MN grew 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 worth $68,000 after purchasing an additional 1,035 shares in the last quarter. Ieq Capital LLC acquired a new position in shares of AudioEye in the 4th quarter valued at approximately $153,000. Integrated Quantitative Investments LLC bought a new stake in shares of AudioEye during the 4th quarter worth approximately $188,000. Finally, Skylands Capital LLC bought a new position in shares of AudioEye in the 4th quarter valued at $206,000. 51.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other AudioEye news, Director James B. Hawkins bought 13,300 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was purchased at an average cost of $15.39 per share, with a total value of $204,687.00. Following the transaction, the director now directly owns 114,382 shares in the company, valued at $1,760,338.98. This trade represents a 13.16 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 40.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AEYE has been the topic of a number of research analyst reports. HC Wainwright cut their target price on shares of AudioEye from $37.00 to $22.00 and set a "buy" rating on the stock in a research report on Thursday, March 13th. B. Riley lowered their target price on shares of AudioEye from $26.00 to $20.00 and set a "buy" rating for the company in a research note on Tuesday. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $25.00 price objective on shares of AudioEye in a research note on Wednesday, April 2nd. Five 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 has an average rating of "Buy" and an average target price of $26.40.

AudioEye Stock Up 3.1 %

Shares of AEYE stock traded up $0.37 on Friday, hitting $12.30. The stock had a trading volume of 50,907 shares, compared to its average volume of 217,667. AudioEye, Inc. has a 12-month low of $8.91 and a 12-month high of $34.85. The business has a 50 day moving average of $12.07 and a 200 day moving average of $17.84. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.84 and a quick ratio of 0.84. The stock has a market cap of $152.80 million, a price-to-earnings ratio of -45.54, a price-to-earnings-growth ratio of 2.03 and a beta of 1.39.

AudioEye 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.