272 Capital LP Sells 210,085 Shares of Mitek Systems, Inc. (NASDAQ:MITK)

272 Capital LP reduced its holdings in shares of Mitek Systems, Inc. (NASDAQ:MITK - Free Report) by 39.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 322,885 shares of the software maker's stock after selling 210,085 shares during the period. Mitek Systems comprises 1.8% of 272 Capital LP's portfolio, making the stock its 21st largest holding. 272 Capital LP owned 0.69% of Mitek Systems worth $3,610,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Mitek Systems by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 3,517,664 shares of the software maker's stock worth $49,599,000 after acquiring an additional 138,438 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Mitek Systems by 8.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,657,465 shares of the software maker's stock valued at $18,531,000 after purchasing an additional 128,282 shares during the period. Thompson Siegel & Walmsley LLC lifted its stake in shares of Mitek Systems by 259.9% during 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. LSV Asset Management boosted its holdings in Mitek Systems by 0.4% in the 2nd quarter. LSV Asset Management now owns 738,799 shares of the software maker's stock worth $8,260,000 after buying an additional 2,900 shares during the period. Finally, Tyro Capital Management LLC purchased a new stake in Mitek Systems in the 4th quarter worth $9,240,000. 83.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on MITK. StockNews.com upgraded Mitek Systems from a "hold" rating to a "buy" rating in a report on Friday, July 12th. HC Wainwright cut their price objective on shares of 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 shares of Mitek Systems from a "buy" rating to a "hold" rating and dropped their price target for the stock from $17.00 to $9.50 in a research note on Wednesday, September 4th. Craig Hallum decreased their price objective on shares of Mitek Systems from $19.00 to $15.00 and set a "buy" rating for the company in a research note on Friday, August 9th. Finally, Maxim Group cut their target price 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. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $12.13.

Mitek Systems Trading Down 0.8 %

MITK stock traded down $0.07 during mid-day trading on Tuesday, reaching $8.54. The company had a trading volume of 108,714 shares, compared to its average volume of 559,647. The company has a market capitalization of $399.60 million, a PE ratio of -53.81 and a beta of 1.07. The firm has a 50 day moving average of $10.06 and a 200 day moving average of $11.68. Mitek Systems, Inc. has a 12 month low of $7.35 and a 12 month high of $16.24. The company has a debt-to-equity ratio of 0.68, a current ratio of 4.46 and a quick ratio of 4.46.

Mitek Systems (NASDAQ:MITK - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The software maker reported $0.25 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.01). The firm had revenue of $45.00 million for the quarter, compared to analysts' expectations of $47.99 million. Mitek Systems had a positive return on equity of 12.32% and a negative net margin of 4.05%. The company's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.16 earnings per share. On average, equities analysts predict that Mitek Systems, Inc. will post 0.56 earnings per share for the current fiscal year.

Mitek Systems 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.