Mitek Systems, Inc. (NASDAQ:MITK) Shares Sold by Newtyn Management LLC

Newtyn Management LLC decreased its stake in Mitek Systems, Inc. (NASDAQ:MITK - Free Report) by 29.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 721,554 shares of the software maker's stock after selling 300,000 shares during the quarter. Mitek Systems comprises 1.4% of Newtyn Management LLC's portfolio, making the stock its 21st biggest holding. Newtyn Management LLC owned about 1.60% of Mitek Systems worth $8,031,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Invesco Ltd. boosted its holdings in Mitek Systems by 534.4% during the 4th quarter. Invesco Ltd. now owns 1,722,099 shares of the software maker's stock valued at $19,167,000 after acquiring an additional 1,450,652 shares during the period. Marshall Wace LLP grew its position in shares of Mitek Systems by 2,115.7% during the 4th quarter. Marshall Wace LLP now owns 859,123 shares of the software maker's stock worth $9,562,000 after buying an additional 820,349 shares in the last quarter. Impax Asset Management Group plc bought a new stake in Mitek Systems during the fourth quarter valued at about $5,565,000. Phoenix Financial Ltd. bought a new stake in Mitek Systems during the fourth quarter valued at about $4,733,000. Finally, Jefferies Financial Group Inc. bought a new stake in Mitek Systems during the fourth quarter valued at about $3,500,000. Hedge funds and other institutional investors own 83.64% of the company's stock.

Mitek Systems Price Performance

MITK traded down $0.06 during trading on Monday, hitting $9.71. The company's stock had a trading volume of 118,182 shares, compared to its average volume of 561,695. The company has a current ratio of 4.59, a quick ratio of 4.59 and a debt-to-equity ratio of 0.73. Mitek Systems, Inc. has a twelve month low of $6.93 and a twelve month high of $13.72. The business's fifty day simple moving average is $8.44 and its 200 day simple moving average is $9.36. The firm has a market capitalization of $439.14 million, a price-to-earnings ratio of 107.61 and a beta of 1.11.

Mitek Systems (NASDAQ:MITK - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The software maker reported $0.36 EPS for the quarter, beating the consensus estimate of $0.26 by $0.10. Mitek Systems had a return on equity of 16.53% and a net margin of 2.59%. The company had revenue of $51.93 million for the quarter, compared to analyst estimates of $47.21 million. Mitek Systems's revenue was up 10.4% on a year-over-year basis. On average, equities research analysts forecast that Mitek Systems, Inc. will post 0.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Maxim Group increased their price target on Mitek Systems from $13.00 to $14.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. StockNews.com upgraded Mitek Systems from a "buy" rating to a "strong-buy" rating in a research note on Monday, May 12th. Finally, HC Wainwright restated a "buy" rating and issued a $13.00 price objective on shares of Mitek Systems in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $12.88.

Insider Buying and Selling at Mitek Systems

In other news, CEO Edward H. West purchased 55,000 shares of the stock in a transaction dated Thursday, February 20th. The shares were purchased at an average cost of $9.21 per share, with a total value of $506,550.00. Following the completion of the purchase, the chief executive officer now directly owns 55,000 shares of the company's stock, valued at approximately $506,550. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.10% of the stock is owned by corporate insiders.

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.