Rhumbline Advisers grew its stake in Mitek Systems, Inc. (NASDAQ:MITK – Free Report) by 7.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,141 shares of the software maker’s stock after purchasing an additional 4,277 shares during the quarter. Rhumbline Advisers owned about 0.14% of Mitek Systems worth $728,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Tyro Capital Management LLC bought a new position in Mitek Systems in the fourth quarter worth about $9,240,000. LSV Asset Management raised its position in shares of Mitek Systems by 852.1% in the 1st 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. Vanguard Group Inc. lifted its stake in shares of Mitek Systems by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 3,517,664 shares of the software maker’s stock valued at $49,599,000 after purchasing an additional 138,438 shares during the period. Tocqueville Asset Management L.P. lifted its stake in shares of Mitek Systems by 32.8% in the 1st quarter. Tocqueville Asset Management L.P. now owns 526,300 shares of the software maker’s stock valued at $7,421,000 after purchasing an additional 130,000 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Mitek Systems by 78.3% during the first quarter. Principal Financial Group Inc. now owns 39,470 shares of the software maker’s stock valued at $557,000 after purchasing an additional 17,337 shares in the last quarter. 83.64% of the stock is owned by hedge funds and other institutional investors.
Mitek Systems Stock Performance
Shares of MITK stock opened at $8.45 on Wednesday. The company has a market capitalization of $395.38 million, a price-to-earnings ratio of -52.81 and a beta of 1.07. The company has a debt-to-equity ratio of 0.68, a quick ratio of 4.46 and a current ratio of 4.46. Mitek Systems, Inc. has a one year low of $7.35 and a one year high of $16.24. The company’s 50-day moving average is $9.98 and its 200 day moving average is $11.66.
Analyst Upgrades and Downgrades
Several equities analysts have commented on the company. HC Wainwright lowered their price objective on Mitek Systems from $19.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, August 12th. StockNews.com raised shares of Mitek Systems from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. Jefferies Financial Group cut shares of Mitek Systems from a “buy” rating to a “hold” rating and cut their price objective for the stock from $17.00 to $9.50 in a report on Wednesday, September 4th. Craig Hallum decreased their target price on shares of Mitek Systems from $19.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Maxim Group dropped their price target on Mitek Systems from $23.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.13.
Read Our Latest Stock Report on Mitek Systems
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.
Featured Stories
- Five stocks we like better than Mitek Systems
- Investing In Automotive Stocks
- Biohaven Stock Soars on Drug Trial Results: Time to Jump In?
- 3 Grocery Stocks That Are Proving They Are Still Essential
- Is AMD a Legitimate Threat to NVIDIA? What Investors Should Watch
- Should You Add These Warren Buffett Stocks to Your Portfolio?
- Novo Nordisk’s Setback Won’t Last: A Game-Changing Drug Emerges
Want to see what other hedge funds are holding MITK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mitek Systems, Inc. (NASDAQ:MITK – Free Report).
Receive News & Ratings for Mitek Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mitek Systems and related companies with MarketBeat.com's FREE daily email newsletter.