Sargent Investment Group LLC Cuts Stake in Mitek Systems, Inc. (NASDAQ:MITK)

Sargent Investment Group LLC reduced its stake in Mitek Systems, Inc. (NASDAQ:MITK) by 16.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 209,155 shares of the software maker’s stock after selling 42,450 shares during the period. Sargent Investment Group LLC’s holdings in Mitek Systems were worth $2,123,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Invenomic Capital Management LP purchased a new stake in shares of Mitek Systems in the third quarter worth about $4,068,000. Capstone Investment Advisors LLC acquired a new position in Mitek Systems in the 3rd quarter worth about $680,000. BNP Paribas Financial Markets boosted its position in Mitek Systems by 357.0% during the third quarter. BNP Paribas Financial Markets now owns 82,578 shares of the software maker’s stock worth $716,000 after purchasing an additional 64,509 shares in the last quarter. Barclays PLC grew its holdings in Mitek Systems by 335.6% in the third quarter. Barclays PLC now owns 78,209 shares of the software maker’s stock valued at $679,000 after purchasing an additional 60,256 shares during the period. Finally, Fifth Third Wealth Advisors LLC purchased a new position in shares of Mitek Systems during the 3rd quarter valued at approximately $506,000. 83.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MITK. HC Wainwright increased their target price on shares of Mitek Systems from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. StockNews.com raised Mitek Systems from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 25th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $12.63.

Mitek Systems Price Performance

MITK opened at $10.11 on Wednesday. The company has a market capitalization of $457.28 million, a P/E ratio of 168.50 and a beta of 1.08. Mitek Systems, Inc. has a 1-year low of $7.35 and a 1-year high of $16.24. The company has a 50-day moving average of $10.21 and a 200-day moving average of $9.67. The company has a debt-to-equity ratio of 0.67, a quick ratio of 4.39 and a current ratio of 4.39.

Mitek Systems (NASDAQ:MITK) last issued its earnings results on Monday, December 16th. The software maker reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.16. The company had revenue of $43.22 million for the quarter, compared to analysts’ expectations of $41.30 million. Mitek Systems had a net margin of 1.90% and a return on equity of 16.64%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.15 earnings per share. Equities analysts expect that Mitek Systems, Inc. will post 0.65 EPS for the current fiscal year.

Insider Activity at Mitek Systems

In related news, SVP Christopher H. Briggs sold 3,320 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $9.08, for a total transaction of $30,145.60. Following the transaction, the senior vice president now owns 65,353 shares in the company, valued at $593,405.24. This trade represents a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jason Gray sold 6,222 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $9.07, for a total transaction of $56,433.54. Following the transaction, the insider now owns 164,342 shares of the company’s stock, valued at approximately $1,490,581.94. This trade represents a 3.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,699 shares of company stock worth $152,140 in the last 90 days. 2.10% of the stock is currently owned by company insiders.

Mitek Systems Company Profile

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.