LSV Asset Management Sells 397,100 Shares of Mitek Systems, Inc. (NASDAQ:MITK)

LSV Asset Management reduced its holdings in Mitek Systems, Inc. (NASDAQ:MITK - Free Report) by 93.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,900 shares of the software maker's stock after selling 397,100 shares during the quarter. LSV Asset Management owned about 0.06% of Mitek Systems worth $299,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MITK. Avior Wealth Management LLC increased its holdings in shares of Mitek Systems by 24.7% in the fourth quarter. Avior Wealth Management LLC now owns 8,595 shares of the software maker's stock worth $96,000 after purchasing an additional 1,700 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Mitek Systems during the 4th quarter worth about $105,000. Y Intercept Hong Kong Ltd acquired a new stake in Mitek Systems during the fourth quarter worth about $114,000. Lazari Capital Management Inc. acquired a new stake in shares of Mitek Systems during the 4th quarter valued at about $117,000. Finally, Kingsview Wealth Management LLC increased its stake in Mitek Systems by 16.1% during the 4th 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. Hedge funds and other institutional investors own 83.64% of the company's stock.

Wall Street Analyst Weigh In

MITK has been the topic of several research reports. HC Wainwright reissued a "buy" rating and set a $13.00 target price on shares of Mitek Systems in a research note on Tuesday, February 11th. StockNews.com cut Mitek Systems from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, February 11th. Finally, Maxim Group boosted their target price on shares of Mitek Systems from $13.00 to $14.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. One research 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $12.88.

Insider Buying and Selling

In other news, CEO Edward H. West purchased 55,000 shares of the stock in a transaction on Thursday, February 20th. The stock was purchased at an average price of $9.21 per share, for a total transaction of $506,550.00. Following the acquisition, the chief executive officer now owns 55,000 shares in the company, valued at $506,550. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.10% of the stock is owned by corporate insiders.

Mitek Systems Stock Performance

MITK stock traded down $0.13 during trading on Friday, reaching $7.65. 428,367 shares of the company's stock were exchanged, compared to its average volume of 578,410. The company's fifty day moving average price is $8.76 and its 200-day moving average price is $9.37. The firm has a market cap of $346.12 million, a PE ratio of 85.00 and a beta of 1.15. The company has a quick ratio of 4.59, a current ratio of 4.59 and a debt-to-equity ratio of 0.73. Mitek Systems, Inc. has a 1-year low of $6.93 and a 1-year high of $14.32.

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