Stifel Financial Corp Lowers Stock Holdings in Mitek Systems, Inc. (NASDAQ:MITK)

Stifel Financial Corp trimmed its position in Mitek Systems, Inc. (NASDAQ:MITK) by 7.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 77,131 shares of the software maker’s stock after selling 6,086 shares during the period. Stifel Financial Corp owned 0.17% of Mitek Systems worth $669,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MITK. Innealta Capital LLC bought a new stake in Mitek Systems during the second quarter valued at $32,000. nVerses Capital LLC raised its holdings in shares of Mitek Systems by 25.5% in the 3rd quarter. nVerses Capital LLC now owns 6,400 shares of the software maker’s stock valued at $55,000 after acquiring an additional 1,300 shares in the last quarter. Avior Wealth Management LLC bought a new stake in shares of Mitek Systems during the 3rd quarter valued at about $60,000. Intech Investment Management LLC purchased a new position in shares of Mitek Systems during the third quarter worth about $117,000. Finally, Squarepoint Ops LLC purchased a new position in Mitek Systems in the 2nd quarter worth approximately $138,000. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Christopher H. Briggs sold 3,320 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $9.08, for a total value of $30,145.60. Following the sale, the senior vice president now directly owns 65,353 shares of the company’s stock, valued at $593,405.24. The trade was a 4.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jason Gray sold 6,222 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $9.07, for a total value of $56,433.54. Following the completion of the sale, the insider now owns 164,342 shares in the company, valued at $1,490,581.94. The trade was a 3.65 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,699 shares of company stock worth $152,140. Corporate insiders own 2.10% of the company’s stock.

Mitek Systems Stock Performance

Shares of MITK opened at $11.45 on Thursday. The company has a 50-day simple moving average of $9.37 and a two-hundred day simple moving average of $9.87. The company has a debt-to-equity ratio of 0.68, a current ratio of 4.46 and a quick ratio of 4.46. The firm has a market capitalization of $493.39 million, a PE ratio of -76.33 and a beta of 1.12. Mitek Systems, Inc. has a one year low of $7.35 and a one year high of $16.24.

Mitek Systems (NASDAQ:MITK) last released its earnings results on Monday, December 16th. The software maker reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.16. The company had revenue of $43.22 million during the quarter, compared to analysts’ expectations of $41.30 million. Mitek Systems had a positive return on equity of 12.32% and a negative net margin of 4.05%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 EPS. On average, analysts anticipate that Mitek Systems, Inc. will post 0.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on MITK. StockNews.com upgraded shares of Mitek Systems from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Jefferies Financial Group cut Mitek Systems from a “buy” rating to a “hold” rating and cut their target price for the stock from $17.00 to $9.50 in a research note on Wednesday, September 4th. Finally, HC Wainwright boosted their target price on Mitek Systems from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $12.63.

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.