Portolan Capital Management LLC Sells 171,762 Shares of Mitek Systems, Inc. (NASDAQ:MITK)

Portolan Capital Management LLC reduced its stake in Mitek Systems, Inc. (NASDAQ:MITK) by 46.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 194,987 shares of the software maker’s stock after selling 171,762 shares during the quarter. Portolan Capital Management LLC owned 0.43% of Mitek Systems worth $2,170,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MITK. Avior Wealth Management LLC lifted 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 valued at $96,000 after purchasing an additional 1,700 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Mitek Systems by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 130,781 shares of the software maker’s stock valued at $1,134,000 after acquiring an additional 2,460 shares in the last quarter. Kingsview Wealth Management LLC boosted its position 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 acquiring an additional 2,865 shares during the last quarter. Barclays PLC grew its stake in shares of Mitek Systems by 5.0% during the 4th quarter. Barclays PLC now owns 82,142 shares of the software maker’s stock worth $914,000 after acquiring an additional 3,933 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Mitek Systems by 24.8% in the fourth quarter. SG Americas Securities LLC now owns 21,325 shares of the software maker’s stock valued at $237,000 after purchasing an additional 4,237 shares during the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on MITK shares. StockNews.com cut shares of Mitek Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 11th. HC Wainwright restated a “buy” rating and issued a $13.00 price objective on shares of Mitek Systems in a report on Tuesday, February 11th. Finally, Maxim Group upped their target price on Mitek Systems from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. 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 presently has a consensus rating of “Moderate Buy” and an average target price of $12.88.

Mitek Systems Stock Up 0.4 %

Mitek Systems stock opened at $7.84 on Tuesday. Mitek Systems, Inc. has a fifty-two week low of $6.93 and a fifty-two week high of $16.24. The firm has a market capitalization of $354.71 million, a PE ratio of 87.11 and a beta of 1.15. The company’s 50-day moving average is $8.98 and its 200-day moving average is $9.40. The company has a debt-to-equity ratio of 0.73, a current ratio of 4.59 and a quick ratio of 4.59.

Mitek Systems (NASDAQ:MITK) last released its quarterly earnings data 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 net margin of 2.59% and a return on equity of 16.53%. Sell-side analysts anticipate that Mitek Systems, Inc. will post 0.59 earnings per share for the current year.

Insider Transactions at Mitek Systems

In other news, CEO Edward H. West bought 55,000 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was bought at an average cost of $9.21 per share, for a total transaction of $506,550.00. Following the transaction, the chief executive officer now owns 55,000 shares of the company’s stock, valued at $506,550. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.10% of the company’s stock.

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.