Foundry Partners LLC Buys 54,235 Shares of Mitek Systems, Inc. (NASDAQ:MITK)

Foundry Partners LLC raised its holdings in Mitek Systems, Inc. (NASDAQ:MITK) by 18.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 347,195 shares of the software maker’s stock after buying an additional 54,235 shares during the period. Foundry Partners LLC owned about 0.75% of Mitek Systems worth $3,010,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Innealta Capital LLC acquired a new position in shares of Mitek Systems in the second quarter valued at approximately $32,000. nVerses Capital LLC lifted its stake in shares of Mitek Systems by 25.5% in the 3rd quarter. nVerses Capital LLC now owns 6,400 shares of the software maker’s stock valued at $55,000 after acquiring an additional 1,300 shares during the last quarter. Avior Wealth Management LLC bought a new position in shares of Mitek Systems in the 3rd quarter valued at $60,000. Intech Investment Management LLC bought a new position in Mitek Systems during the 3rd quarter worth $117,000. Finally, Squarepoint Ops LLC bought a new position in Mitek Systems during the 2nd quarter worth $138,000. Institutional investors own 83.64% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Craig Hallum decreased their price target on Mitek Systems from $19.00 to $15.00 and set a “buy” rating for the company in a report on Friday, August 9th. StockNews.com cut shares of Mitek Systems from a “buy” rating to a “hold” rating in a report on Tuesday. Maxim Group lowered their target price on shares of Mitek Systems from $23.00 to $13.00 and set a “buy” rating on the stock in a report on Monday, August 12th. HC Wainwright reduced their price target on shares of Mitek Systems from $19.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, Jefferies Financial Group lowered shares of Mitek Systems from a “buy” rating to a “hold” rating and cut their target price for the stock from $17.00 to $9.50 in a research report on Wednesday, September 4th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $12.13.

Mitek Systems Stock Performance

Shares of NASDAQ:MITK opened at $9.10 on Friday. The company has a market cap of $420.42 million, a price-to-earnings ratio of -60.67 and a beta of 1.07. The company has a 50-day moving average price of $8.82 and a 200-day moving average price of $10.43. The company has a current ratio of 4.46, a quick ratio of 4.46 and a debt-to-equity ratio of 0.68. Mitek Systems, Inc. has a 12 month low of $7.35 and a 12 month high of $16.24.

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.