Mackenzie Financial Corp Invests $505,000 in Mitek Systems, Inc. (NASDAQ:MITK)

Key Points

• Mackenzie Financial Corp acquired 61,260 shares of Mitek Systems, Inc., valued at around $505,000, representing 0.14% ownership as of the latest SEC filing.
• Shares of Mitek Systems increased by 8.9%, reaching $9.94, with significant trading volume of over 1 million shares on the trading day mentioned.
• Analysts have downgraded Mitek Systems from a "strong-buy" to a "buy" rating, with an average price target set at $12.88.

Mackenzie Financial Corp bought a new stake in shares of Mitek Systems, Inc. (NASDAQ:MITK - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 61,260 shares of the software maker's stock, valued at approximately $505,000. Mackenzie Financial Corp owned about 0.14% of Mitek Systems as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of the stock. Millennium Management LLC grew its position in Mitek Systems by 159.7% in the 4th quarter. Millennium Management LLC now owns 83,390 shares of the software maker's stock valued at $928,000 after acquiring an additional 51,275 shares during the last quarter. Rhumbline Advisers grew its position in Mitek Systems by 3.8% in the 1st quarter. Rhumbline Advisers now owns 65,999 shares of the software maker's stock valued at $544,000 after acquiring an additional 2,396 shares during the last quarter. Barclays PLC grew its position in Mitek Systems by 5.0% in the 4th quarter. Barclays PLC now owns 82,142 shares of the software maker's stock valued at $914,000 after acquiring an additional 3,933 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new position in Mitek Systems in the 4th quarter valued at $272,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Mitek Systems by 3.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,600 shares of the software maker's stock valued at $674,000 after acquiring an additional 1,803 shares during the last quarter. Institutional investors own 83.64% of the company's stock.

Insider Activity

In other news, insider Michael E. Diamond sold 70,352 shares of the stock in a transaction on 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 of the company's stock, valued at approximately $2,279,731.80. This represents a 23.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.10% of the company's stock.

Mitek Systems Stock Performance

Mitek Systems stock traded down $0.01 during mid-day trading on Tuesday, hitting $9.72. The company's stock had a trading volume of 102,030 shares, compared to its average volume of 467,959. The company has a 50 day moving average of $9.66 and a 200-day moving average of $9.25. The stock has a market cap of $443.90 million, a PE ratio of 29.40 and a beta of 1.13. Mitek Systems, Inc. has a one year low of $6.93 and a one year high of $11.78.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Mitek Systems from a "strong-buy" rating to a "buy" rating in a research report on Saturday.

About Mitek Systems

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.