Connor Clark & Lunn Investment Management Ltd. Increases Position in AudioEye, Inc. (NASDAQ:AEYE)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of AudioEye, Inc. (NASDAQ:AEYE) by 58.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 36,824 shares of the company’s stock after acquiring an additional 13,556 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in AudioEye were worth $841,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. GSA Capital Partners LLP purchased a new stake in shares of AudioEye during the third quarter worth about $416,000. International Assets Investment Management LLC bought a new stake in AudioEye in the third quarter valued at about $2,350,000. CWM LLC bought a new stake in AudioEye in the third quarter valued at about $93,000. Renaissance Technologies LLC increased its holdings in AudioEye by 202.5% in the second quarter. Renaissance Technologies LLC now owns 60,500 shares of the company’s stock valued at $1,065,000 after buying an additional 40,500 shares during the last quarter. Finally, Total Clarity Wealth Management Inc. bought a new stake in AudioEye in the second quarter valued at about $221,000. 51.11% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at AudioEye

In other news, CEO David Moradi sold 68,298 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $29.48, for a total transaction of $2,013,425.04. Following the completion of the transaction, the chief executive officer now directly owns 2,830,035 shares in the company, valued at approximately $83,429,431.80. The trade was a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kelly Georgevich sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $29.00, for a total value of $290,000.00. Following the transaction, the chief financial officer now owns 88,981 shares of the company’s stock, valued at approximately $2,580,449. This represents a 10.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 92,859 shares of company stock worth $2,684,480. Company insiders own 40.70% of the company’s stock.

Analysts Set New Price Targets

AEYE has been the subject of several research analyst reports. HC Wainwright boosted their price objective 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 research note on Friday, November 8th. Four equities 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 has a consensus rating of “Buy” and an average price target of $30.13.

AudioEye Stock Performance

Shares of AEYE stock opened at $26.80 on Thursday. 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 business has a 50 day moving average of $24.41 and a two-hundred day moving average of $22.53. AudioEye, Inc. has a 52 week low of $4.01 and a 52 week high of $34.85. The company has a market cap of $326.37 million, a P/E ratio of -99.26, a PEG ratio of 6.05 and a beta of 1.03.

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.