Private Advisor Group LLC Decreases Holdings in Mitek Systems, Inc. (NASDAQ:MITK)

Private Advisor Group LLC reduced its stake in Mitek Systems, Inc. (NASDAQ:MITK) by 2.9% during the second quarter, according to its most recent filing with the SEC. The fund owned 49,430 shares of the software maker’s stock after selling 1,500 shares during the quarter. Private Advisor Group LLC owned 0.11% of Mitek Systems worth $553,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its stake in shares of Mitek Systems by 6.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,027 shares of the software maker’s stock valued at $438,000 after buying an additional 1,759 shares during the period. Assenagon Asset Management S.A. raised its stake in Mitek Systems by 13.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 20,738 shares of the software maker’s stock valued at $292,000 after acquiring an additional 2,457 shares during the period. Innealta Capital LLC bought a new stake in Mitek Systems in the 2nd quarter valued at about $32,000. BNP Paribas Financial Markets lifted its holdings in Mitek Systems by 9.0% during the first quarter. BNP Paribas Financial Markets now owns 36,684 shares of the software maker’s stock valued at $517,000 after purchasing an additional 3,041 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in Mitek Systems by 7.0% during the second quarter. Rhumbline Advisers now owns 65,141 shares of the software maker’s stock worth $728,000 after purchasing an additional 4,277 shares during the period. Institutional investors own 83.64% of the company’s stock.

Analyst Ratings Changes

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

Mitek Systems Trading Up 0.6 %

Mitek Systems stock opened at $8.55 on Thursday. The stock has a market cap of $400.06 million, a P/E ratio of -53.44 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. The firm’s fifty day moving average price is $10.27 and its 200-day moving average price is $11.76. Mitek Systems, Inc. has a fifty-two week low of $7.35 and a fifty-two week high of $16.24.

Mitek Systems (NASDAQ:MITK) last announced its earnings results on Thursday, August 8th. The software maker reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.01). Mitek Systems had a negative net margin of 4.05% and a positive return on equity of 12.32%. The company had revenue of $45.00 million for the quarter, compared to the consensus estimate of $47.99 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities research analysts forecast 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.