Connor Clark & Lunn Investment Management Ltd. cut its holdings in Mitek Systems, Inc. (NASDAQ:MITK - Free Report) by 70.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm 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 0.07% of Mitek Systems worth $272,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in MITK. Quarry LP acquired a new position in shares of Mitek Systems during the fourth quarter worth approximately $31,000. GAMMA Investing LLC increased its position in shares of Mitek Systems by 1,882.5% during the 1st quarter. GAMMA Investing LLC now owns 3,053 shares of the software maker's stock valued at $25,000 after purchasing an additional 2,899 shares during the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Mitek Systems during the 4th quarter valued at $39,000. Ancora Advisors LLC purchased a new stake in shares of Mitek Systems during the 4th quarter valued at $67,000. Finally, Harbor Capital Advisors Inc. increased its position in shares of Mitek Systems by 24.4% during the 1st quarter. Harbor Capital Advisors Inc. now owns 11,083 shares of the software maker's stock valued at $91,000 after purchasing an additional 2,175 shares during the last quarter. 83.64% of the stock is owned by institutional investors and hedge funds.
Mitek Systems Stock Performance
MITK stock opened at $10.21 on Thursday. The company has a market capitalization of $466.06 million, a price-to-earnings ratio of 30.94 and a beta of 1.13. Mitek Systems, Inc. has a fifty-two week low of $6.93 and a fifty-two week high of $11.78. The stock has a fifty day moving average of $9.67 and a 200-day moving average of $9.26.
Wall Street Analyst Weigh In
Separately, Wall Street Zen lowered Mitek Systems from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $12.17.
Get Our Latest Report on MITK
Insiders Place Their Bets
In other Mitek Systems news, insider Michael E. Diamond sold 70,352 shares of Mitek Systems 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 completion of the transaction, the insider owned 233,340 shares of the company's stock, valued at $2,279,731.80. The trade was a 23.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.10% of the stock is owned by insiders.
About Mitek Systems
(
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.
Further Reading
Want to see what other hedge funds are holding MITK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mitek Systems, Inc. (NASDAQ:MITK - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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