Mitek Systems, Inc. (NASDAQ:MITK) Stock Holdings Cut by Private Advisor Group LLC

Private Advisor Group LLC reduced its position in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 56.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,670 shares of the software maker’s stock after selling 27,760 shares during the quarter. Private Advisor Group LLC’s holdings in Mitek Systems were worth $188,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in Mitek Systems during the 2nd quarter valued at $32,000. nVerses Capital LLC bought a new stake in shares of Mitek Systems during the 2nd quarter worth $57,000. Squarepoint Ops LLC bought a new stake in shares of Mitek Systems during the 2nd quarter worth $138,000. SG Americas Securities LLC bought a new stake in shares of Mitek Systems during the 3rd quarter worth $148,000. Finally, Creative Planning bought a new stake in shares of Mitek Systems during the 3rd quarter worth $152,000. 83.64% of the stock is owned by institutional investors.

Mitek Systems Price Performance

MITK opened at $9.41 on Friday. The stock has a fifty day moving average of $8.72 and a 200-day moving average of $10.66. The firm has a market capitalization of $434.74 million, a P/E ratio of -62.73 and a beta of 1.07. Mitek Systems, Inc. has a 12-month low of $7.35 and a 12-month high of $16.24. The company has a quick ratio of 4.46, a current ratio of 4.46 and a debt-to-equity ratio of 0.68.

Mitek Systems (NASDAQ:MITK) last announced its quarterly earnings data on Thursday, August 8th. The software maker reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). Mitek Systems had a positive return on equity of 12.32% and a negative net margin of 4.05%. The firm had revenue of $45.00 million for the quarter, compared to analysts’ expectations of $47.99 million. During the same quarter in the prior year, the business posted $0.16 earnings per share. Mitek Systems’s revenue was up 4.4% on a year-over-year basis. Equities analysts forecast that Mitek Systems, Inc. will post 0.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MITK shares. Craig Hallum reduced their price objective on Mitek Systems from $19.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, August 9th. StockNews.com raised Mitek Systems from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. Maxim Group reduced their price objective on Mitek Systems from $23.00 to $13.00 and set a “buy” rating for the company in a research note on Monday, August 12th. HC Wainwright reduced their price objective on Mitek Systems from $19.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Finally, Jefferies Financial Group lowered Mitek Systems from a “buy” rating to a “hold” rating and reduced their target price for the company from $17.00 to $9.50 in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $12.13.

About Mitek Systems

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.