International Assets Investment Management LLC Invests $2.35 Million in AudioEye, Inc. (NASDAQ:AEYE)

International Assets Investment Management LLC purchased a new stake in shares of AudioEye, Inc. (NASDAQ:AEYE) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 10,283 shares of the company’s stock, valued at approximately $2,350,000.

Other large investors have also recently made changes to their positions in the company. Renaissance Technologies LLC increased its holdings in shares of AudioEye by 202.5% during the second quarter. Renaissance Technologies LLC now owns 60,500 shares of the company’s stock valued at $1,065,000 after acquiring an additional 40,500 shares in the last quarter. ClariVest Asset Management LLC bought a new stake in AudioEye during the 2nd quarter valued at about $664,000. Bank of New York Mellon Corp purchased a new position in AudioEye in the second quarter worth about $348,000. Acadian Asset Management LLC raised its holdings in AudioEye by 130.6% in the second quarter. Acadian Asset Management LLC now owns 26,939 shares of the company’s stock worth $473,000 after buying an additional 15,256 shares during the last quarter. Finally, Hillsdale Investment Management Inc. bought a new position in shares of AudioEye in the first quarter worth approximately $137,000. 51.11% of the stock is currently owned by hedge funds and other institutional investors.

AudioEye Stock Performance

Shares of AEYE stock opened at $21.42 on Monday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.39. The company has a 50 day moving average price of $22.85 and a 200-day moving average price of $21.20. AudioEye, Inc. has a 52 week low of $3.91 and a 52 week high of $29.30. The firm has a market capitalization of $254.47 million, a PE ratio of -76.50, a P/E/G ratio of 5.68 and a beta of 1.03.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AEYE. HC Wainwright raised their price target on shares of AudioEye from $23.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Craig Hallum lifted their target price on AudioEye from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $25.38.

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.