Mitek Systems, Inc. (NASDAQ:MITK) Shares Sold by Newtyn Management LLC

Newtyn Management LLC lessened its holdings in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 29.4% in the fourth quarter, HoldingsChannel reports. The fund owned 721,554 shares of the software maker’s stock after selling 300,000 shares during the period. Mitek Systems makes up about 1.4% of Newtyn Management LLC’s portfolio, making the stock its 21st largest holding. Newtyn Management LLC’s holdings in Mitek Systems were worth $8,031,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Barclays PLC raised its position in Mitek Systems by 335.6% during the third quarter. Barclays PLC now owns 78,209 shares of the software maker’s stock valued at $679,000 after buying an additional 60,256 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Mitek Systems by 15.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 262,956 shares of the software maker’s stock worth $2,280,000 after acquiring an additional 35,301 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Mitek Systems by 24.8% during the 4th quarter. SG Americas Securities LLC now owns 21,325 shares of the software maker’s stock worth $237,000 after purchasing an additional 4,237 shares during the last quarter. Avior Wealth Management LLC lifted its position in shares of Mitek Systems by 24.7% during the 4th quarter. Avior Wealth Management LLC now owns 8,595 shares of the software maker’s stock worth $96,000 after purchasing an additional 1,700 shares during the last quarter. Finally, Lazari Capital Management Inc. acquired a new position in Mitek Systems in the 4th quarter valued at approximately $117,000. Institutional investors and hedge funds own 83.64% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on MITK shares. StockNews.com upgraded Mitek Systems from a “buy” rating to a “strong-buy” rating in a research report on Monday. Maxim Group raised their price objective on Mitek Systems from $13.00 to $14.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Finally, HC Wainwright reiterated a “buy” rating and set a $13.00 price target on shares of Mitek Systems in a report on Tuesday, February 11th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $12.88.

Insider Buying and Selling at Mitek Systems

In related news, CEO Edward H. West purchased 55,000 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were purchased at an average cost of $9.21 per share, with a total value of $506,550.00. Following the transaction, the chief executive officer now directly owns 55,000 shares in the company, valued at $506,550. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.10% of the company’s stock.

Mitek Systems Price Performance

Mitek Systems stock opened at $9.69 on Wednesday. The stock has a market cap of $438.41 million, a P/E ratio of 107.67 and a beta of 1.11. The company has a quick ratio of 4.59, a current ratio of 4.59 and a debt-to-equity ratio of 0.73. The company’s 50 day moving average price is $8.40 and its two-hundred day moving average price is $9.34. Mitek Systems, Inc. has a 52 week low of $6.93 and a 52 week high of $14.32.

Mitek Systems (NASDAQ:MITK) last released its quarterly earnings data on Thursday, May 8th. The software maker reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.10. The business had revenue of $51.93 million during the quarter, compared to analyst estimates of $47.21 million. Mitek Systems had a net margin of 2.59% and a return on equity of 16.53%. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. On average, equities analysts predict that Mitek Systems, Inc. will post 0.59 earnings per share for the current year.

Mitek Systems Company Profile

Mitek Systems, Inc provides mobile image capture and digital identity verification solutions worldwide. Its product portfolio includes Mobile Deposit that enables individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; Mobile Verify, an identity verification solution that is integrated into mobile apps, mobile websites, and desktop applications; and Mobile Fill, which includes automatic image capture, minimizes the numbers of clicks, and expedites form fill completion.