Rhumbline Advisers Sells 3,565 Shares of Mitek Systems, Inc. (NASDAQ:MITK)

Rhumbline Advisers trimmed its stake in Mitek Systems, Inc. (NASDAQ:MITK) by 5.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,603 shares of the software maker’s stock after selling 3,565 shares during the period. Rhumbline Advisers owned about 0.15% of Mitek Systems worth $708,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of MITK. Avior Wealth Management LLC acquired a new stake in shares of Mitek Systems in the 3rd quarter valued at $60,000. Intech Investment Management LLC bought a new position in Mitek Systems during the 3rd quarter valued at about $117,000. Lazari Capital Management Inc. acquired a new position in Mitek Systems in the fourth quarter valued at about $117,000. Creative Planning bought a new stake in Mitek Systems during the third quarter worth about $152,000. Finally, Kingsview Wealth Management LLC grew its stake in Mitek Systems by 16.1% during the fourth quarter. Kingsview Wealth Management LLC now owns 20,646 shares of the software maker’s stock worth $230,000 after buying an additional 2,865 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors.

Mitek Systems Price Performance

MITK opened at $9.10 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 4.59 and a quick ratio of 4.59. The stock has a market capitalization of $411.72 million, a P/E ratio of 101.11 and a beta of 1.08. The company’s 50 day simple moving average is $10.16 and its 200-day simple moving average is $9.48. Mitek Systems, Inc. has a one year low of $7.35 and a one year high of $16.24.

Mitek Systems (NASDAQ:MITK) last announced its quarterly earnings data on Monday, February 10th. The software maker reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). Mitek Systems had a net margin of 2.59% and a return on equity of 16.53%. Sell-side analysts anticipate that Mitek Systems, Inc. will post 0.59 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. StockNews.com downgraded Mitek Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 11th. Maxim Group lifted their price objective on Mitek Systems from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Finally, HC Wainwright restated a “buy” rating and set a $13.00 target price on shares of Mitek Systems in a report on Tuesday, February 11th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Mitek Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.88.

Insider Activity at Mitek Systems

In other Mitek Systems news, CEO Edward H. West bought 55,000 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were bought at an average cost of $9.21 per share, for a total transaction of $506,550.00. Following the transaction, the chief executive officer now owns 55,000 shares in the company, valued at approximately $506,550. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jason Gray sold 6,222 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $9.07, for a total transaction of $56,433.54. Following the completion of the transaction, the insider now directly owns 164,342 shares in the company, valued at $1,490,581.94. This trade represents a 3.65 % decrease in their position. The disclosure for this sale can be found here. 2.10% of the stock is owned by company insiders.

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.