272 Capital LP Sells 223,743 Shares of Mitek Systems, Inc. (NASDAQ:MITK)

272 Capital LP trimmed its holdings in shares of Mitek Systems, Inc. (NASDAQ:MITK - Free Report) by 69.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 99,142 shares of the software maker's stock after selling 223,743 shares during the period. 272 Capital LP owned approximately 0.21% of Mitek Systems worth $860,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Thompson Siegel & Walmsley LLC increased its position in Mitek Systems by 259.9% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 766,322 shares of the software maker's stock valued at $8,567,000 after buying an additional 553,379 shares in the last quarter. Invenomic Capital Management LP bought a new stake in shares of Mitek Systems during the third quarter valued at approximately $4,068,000. Foundry Partners LLC acquired a new position in shares of Mitek Systems during the second quarter worth approximately $3,275,000. EVR Research LP bought a new position in shares of Mitek Systems in the 2nd quarter worth $2,957,000. Finally, Marshall Wace LLP grew its position in Mitek Systems by 251.1% in the 2nd quarter. Marshall Wace LLP now owns 309,163 shares of the software maker's stock valued at $3,456,000 after purchasing an additional 221,116 shares during the period. Institutional investors and hedge funds own 83.64% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Jefferies Financial Group downgraded shares of Mitek Systems from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $17.00 to $9.50 in a report on Wednesday, September 4th. StockNews.com upgraded shares of Mitek Systems from a "hold" rating to a "buy" rating in a report on Friday, December 6th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $12.13.

Mitek Systems Stock Performance

NASDAQ:MITK traded down $0.12 during trading hours on Friday, hitting $8.78. 793,824 shares of the company traded hands, compared to its average volume of 536,744. 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's 50-day simple moving average is $9.02 and its 200-day simple moving average is $10.00. Mitek Systems, Inc. has a one year low of $7.35 and a one year high of $16.24.

Insider Buying and Selling

In other news, insider Michael E. Diamond sold 4,544 shares of Mitek Systems stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $9.09, for a total transaction of $41,304.96. Following the sale, the insider now directly owns 166,632 shares in the company, valued at $1,514,684.88. The trade was a 2.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jason Gray sold 6,222 shares of the business's stock in a transaction dated Wednesday, December 11th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 16,699 shares of company stock worth $152,140. 2.10% of the stock is owned by insiders.

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.