Kovack Advisors Inc. Has $776,000 Stock Holdings in Mitek Systems, Inc. (NASDAQ:MITK)

Kovack Advisors Inc. boosted its holdings in shares of Mitek Systems, Inc. (NASDAQ:MITK - Free Report) by 62.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,744 shares of the software maker's stock after acquiring an additional 26,850 shares during the period. Kovack Advisors Inc. owned approximately 0.15% of Mitek Systems worth $776,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Avior Wealth Management LLC raised its holdings in shares of Mitek Systems by 24.7% during the fourth quarter. Avior Wealth Management LLC now owns 8,595 shares of the software maker's stock worth $96,000 after acquiring an additional 1,700 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 in the last quarter. Janus Henderson Group PLC boosted its position in shares of Mitek Systems by 4.0% during the third quarter. Janus Henderson Group PLC now owns 73,752 shares of the software maker's stock worth $640,000 after buying an additional 2,806 shares during the period. Kingsview Wealth Management LLC grew its holdings in shares of 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 in the last quarter. Finally, SG Americas Securities LLC raised its position in Mitek Systems by 24.8% in the 4th quarter. SG Americas Securities LLC now owns 21,325 shares of the software maker's stock valued at $237,000 after buying an additional 4,237 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors.

Remove Ads

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MITK shares. Maxim Group raised their price target on shares of Mitek Systems from $13.00 to $14.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. HC Wainwright reaffirmed a "buy" rating and issued a $13.00 target price on shares of Mitek Systems in a research report on Tuesday, February 11th. Finally, StockNews.com lowered shares of Mitek Systems from a "strong-buy" rating to a "buy" rating in a research note 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 data from MarketBeat, Mitek Systems has a consensus rating of "Moderate Buy" and a consensus price target of $12.88.

Mitek Systems Stock Down 2.8 %

Shares of NASDAQ:MITK traded down $0.26 during trading on Monday, hitting $9.11. 501,954 shares of the company were exchanged, compared to its average volume of 563,754. Mitek Systems, Inc. has a fifty-two week low of $7.35 and a fifty-two week high of $16.24. The stock has a market cap of $412.17 million, a price-to-earnings ratio of 101.22 and a beta of 1.08. The company has a current ratio of 4.59, a quick ratio of 4.59 and a debt-to-equity ratio of 0.73. The firm has a fifty day moving average price of $10.34 and a two-hundred day moving average price of $9.48.

Mitek Systems (NASDAQ:MITK - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The software maker reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.07). Mitek Systems had a return on equity of 16.53% and a net margin of 2.59%. As a group, research analysts anticipate that Mitek Systems, Inc. will post 0.59 earnings per share for the current fiscal year.

Insider Activity

In other Mitek Systems news, insider Michael E. Diamond sold 4,544 shares of Mitek Systems stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $9.09, for a total transaction of $41,304.96. Following the completion of the transaction, the insider now directly owns 166,632 shares of the company's stock, valued at $1,514,684.88. The trade was a 2.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Christopher H. Briggs sold 3,320 shares of the company's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $9.08, for a total transaction of $30,145.60. Following the completion of the transaction, the senior vice president now owns 65,353 shares in the company, valued at approximately $593,405.24. This represents a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,086 shares of company stock valued at $127,884. 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.