272 Capital LP Reduces Position in Mitek Systems, Inc. (NASDAQ:MITK)

272 Capital LP decreased its position in shares of Mitek Systems, Inc. (NASDAQ:MITK - Free Report) by 76.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,733 shares of the software maker's stock after selling 248,152 shares during the quarter. 272 Capital LP owned 0.16% of Mitek Systems worth $678,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Capstone Investment Advisors LLC acquired a new stake in Mitek Systems during the 3rd quarter valued at approximately $680,000. BNP Paribas Financial Markets raised its holdings in shares of Mitek Systems by 357.0% during the third quarter. BNP Paribas Financial Markets now owns 82,578 shares of the software maker's stock worth $716,000 after purchasing an additional 64,509 shares during the last quarter. Quantbot Technologies LP acquired a new position in Mitek Systems during the third quarter valued at $340,000. Charles Schwab Investment Management Inc. boosted its holdings in Mitek Systems by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 130,781 shares of the software maker's stock valued at $1,134,000 after purchasing an additional 2,460 shares during the last quarter. Finally, Foundry Partners LLC grew its position in Mitek Systems by 18.5% during the 3rd quarter. Foundry Partners LLC now owns 347,195 shares of the software maker's stock worth $3,010,000 after purchasing an additional 54,235 shares during the period. Hedge funds and other institutional investors own 83.64% of the company's stock.

Mitek Systems Price Performance

Shares of Mitek Systems stock traded up $0.02 on Friday, reaching $9.32. The company's stock had a trading volume of 198,010 shares, compared to its average volume of 402,926. The company has a quick ratio of 4.46, a current ratio of 4.46 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $430.58 million, a P/E ratio of -62.13 and a beta of 1.07. The stock has a 50-day moving average price of $8.91 and a 200-day moving average price of $10.23. Mitek Systems, Inc. has a 52-week low of $7.35 and a 52-week high of $16.24.

Analysts Set New Price Targets

MITK has been the subject of several analyst reports. Craig Hallum decreased their price objective on Mitek Systems from $19.00 to $15.00 and set a "buy" rating for the company in a report on Friday, August 9th. HC Wainwright lowered their price objective 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. Maxim Group dropped their price objective on shares of Mitek Systems from $23.00 to $13.00 and set a "buy" rating on the stock in a research note on Monday, August 12th. StockNews.com cut shares of Mitek Systems from a "buy" rating to a "hold" rating in a research note on Thursday. Finally, Jefferies Financial Group downgraded shares of Mitek Systems from a "buy" rating to a "hold" rating and lowered their price target for the stock from $17.00 to $9.50 in a report on Wednesday, September 4th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $12.13.

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.