Connor Clark & Lunn Investment Management Ltd. cut its holdings in Mitek Systems, Inc. (NASDAQ:MITK - Free Report) by 70.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 32,997 shares of the software maker's stock after selling 80,162 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.07% of Mitek Systems worth $272,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in MITK. Impax Asset Management Group plc increased its stake in shares of Mitek Systems by 70.0% in the first quarter. Impax Asset Management Group plc now owns 850,000 shares of the software maker's stock valued at $7,012,000 after buying an additional 350,000 shares in the last quarter. Pacer Advisors Inc. acquired a new stake in shares of Mitek Systems in the first quarter valued at $2,694,000. Jefferies Financial Group Inc. acquired a new stake in shares of Mitek Systems in the fourth quarter valued at $3,500,000. 4D Advisors LLC acquired a new stake in shares of Mitek Systems in the fourth quarter valued at $3,339,000. Finally, Two Sigma Investments LP increased its stake in shares of Mitek Systems by 179.0% in the fourth quarter. Two Sigma Investments LP now owns 247,306 shares of the software maker's stock valued at $2,753,000 after buying an additional 158,672 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors and hedge funds.
Mitek Systems Trading Up 0.9%
Mitek Systems stock traded up $0.09 during mid-day trading on Tuesday, hitting $10.10. The stock had a trading volume of 540,603 shares, compared to its average volume of 447,573. The stock has a 50-day simple moving average of $9.70 and a two-hundred day simple moving average of $9.25. The stock has a market capitalization of $461.07 million, a PE ratio of 30.61 and a beta of 1.13. Mitek Systems, Inc. has a 12 month low of $6.93 and a 12 month high of $11.78.
Insider Transactions at Mitek Systems
In other Mitek Systems news, insider Michael E. Diamond sold 70,352 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $9.77, for a total transaction of $687,339.04. Following the transaction, the insider owned 233,340 shares in the company, valued at approximately $2,279,731.80. This trade represents a 23.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.10% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen cut Mitek Systems from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Mitek Systems has an average rating of "Moderate Buy" and an average price target of $12.17.
Check Out Our Latest Stock Analysis on Mitek Systems
Mitek Systems Company Profile
(
Free Report)
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.
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