Mitek Systems, Inc. (NASDAQ:MITK) Shares Sold by 272 Capital LP

272 Capital LP trimmed its stake in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 39.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 322,885 shares of the software maker’s stock after selling 210,085 shares during the period. Mitek Systems comprises about 1.8% of 272 Capital LP’s holdings, making the stock its 21st biggest holding. 272 Capital LP owned 0.69% of Mitek Systems worth $3,610,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tyro Capital Management LLC acquired a new stake in Mitek Systems during the 4th quarter worth about $9,240,000. LSV Asset Management increased its position in shares of Mitek Systems by 852.1% in the first quarter. LSV Asset Management now owns 735,899 shares of the software maker’s stock worth $10,376,000 after acquiring an additional 658,603 shares in the last quarter. Thompson Siegel & Walmsley LLC raised its holdings in shares of Mitek Systems by 259.9% during the second quarter. Thompson Siegel & Walmsley LLC now owns 766,322 shares of the software maker’s stock valued at $8,567,000 after acquiring an additional 553,379 shares during the period. Foundry Partners LLC purchased a new stake in shares of Mitek Systems in the 2nd quarter valued at approximately $3,275,000. Finally, Kopp LeRoy C acquired a new position in Mitek Systems in the 1st quarter worth approximately $3,340,000. Institutional investors and hedge funds own 83.64% of the company’s stock.

Analysts Set New Price Targets

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

Mitek Systems Stock Performance

Shares of MITK stock opened at $8.61 on Tuesday. Mitek Systems, Inc. has a fifty-two week low of $7.35 and a fifty-two week high of $16.24. The stock’s 50-day moving average is $10.06 and its two-hundred day moving average is $11.68. 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 cap of $402.87 million, a P/E ratio of -53.81 and a beta of 1.07.

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