Algert Global LLC cut its stake in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 26.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 137,684 shares of the software maker’s stock after selling 50,021 shares during the quarter. Algert Global LLC’s holdings in Mitek Systems were worth $1,232,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Prudential Financial Inc. acquired a new position in shares of Mitek Systems during the 3rd quarter worth $101,000. Chevy Chase Trust Holdings Inc. acquired a new position in shares of Mitek Systems during the 3rd quarter worth $102,000. JPMorgan Chase & Co. acquired a new position in shares of Mitek Systems during the 3rd quarter worth $129,000. Trexquant Investment LP acquired a new position in shares of Mitek Systems during the 3rd quarter worth $138,000. Finally, Voya Investment Management LLC grew its stake in shares of Mitek Systems by 20.0% during the 2nd quarter. Voya Investment Management LLC now owns 17,451 shares of the software maker’s stock worth $147,000 after purchasing an additional 2,906 shares during the period. 43.77% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on MITK. Zacks Investment Research cut shares of Mitek Systems from a “hold” rating to a “sell” rating in a research note on Friday, November 24th. BidaskClub raised shares of Mitek Systems from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 18th. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $11.50.
Mitek Systems (NASDAQ:MITK) last released its quarterly earnings data on Thursday, January 25th. The software maker reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. Mitek Systems had a net margin of 18.57% and a return on equity of 10.50%. The business had revenue of $12.14 million for the quarter, compared to analyst estimates of $11.57 million. During the same period in the previous year, the firm earned $0.03 EPS. The business’s revenue for the quarter was up 31.0% compared to the same quarter last year. analysts expect that Mitek Systems, Inc. will post 0.08 EPS for the current year.
In other Mitek Systems news, CEO James B. Debello sold 10,313 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $8.60, for a total value of $88,691.80. Following the transaction, the chief executive officer now directly owns 909,903 shares in the company, valued at approximately $7,825,165.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Bruce Edward Hansen sold 50,000 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $9.16, for a total transaction of $458,000.00. Following the completion of the transaction, the director now owns 61,600 shares in the company, valued at $564,256. The disclosure for this sale can be found here. Insiders sold a total of 234,303 shares of company stock worth $2,065,223 over the last quarter. Insiders own 8.52% of the company’s stock.
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Mitek Systems Company Profile
Mitek Systems, Inc develops, markets and sells mobile capture and identity verification software solutions for enterprise customers. The Company’s technology allows users to remotely deposit checks, open accounts, get insurance quotes, pay bills, as well as verify their identity by taking pictures of various documents with their camera-equipped smartphones and tablets instead of using the device keyboard.
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