Mitek Systems, Inc. (NASDAQ:MITK) Shares Sold by Granite Investment Partners LLC
Granite Investment Partners LLC reduced its position in Mitek Systems, Inc. (NASDAQ:MITK) by 4.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 427,327 shares of the software maker’s stock after selling 20,713 shares during the period. Granite Investment Partners LLC’s holdings in Mitek Systems were worth $3,590,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. Thomson Horstmann & Bryant Inc. bought a new stake in shares of Mitek Systems during the first quarter valued at $3,874,000. Goldman Sachs Group Inc. increased its stake in shares of Mitek Systems by 3,097.1% in the first quarter. Goldman Sachs Group Inc. now owns 365,585 shares of the software maker’s stock valued at $2,431,000 after buying an additional 354,150 shares in the last quarter. Skylands Capital LLC increased its stake in shares of Mitek Systems by 55.6% in the first quarter. Skylands Capital LLC now owns 588,700 shares of the software maker’s stock valued at $3,915,000 after buying an additional 210,332 shares in the last quarter. Algert Global LLC bought a new stake in shares of Mitek Systems during the second quarter valued at $1,356,000. Finally, Essex Investment Management Co. LLC increased its stake in shares of Mitek Systems by 73.6% in the second quarter. Essex Investment Management Co. LLC now owns 311,799 shares of the software maker’s stock valued at $2,619,000 after buying an additional 132,238 shares in the last quarter. Institutional investors own 38.96% of the company’s stock.
Mitek Systems, Inc. (MITK) opened at 9.45 on Friday. The firm has a 50-day moving average of $9.43 and a 200-day moving average of $7.73. Mitek Systems, Inc. has a 1-year low of $5.26 and a 1-year high of $10.75. The stock has a market capitalization of $317.38 million, a price-to-earnings ratio of 160.17 and a beta of 0.68.
Mitek Systems (NASDAQ:MITK) last issued its earnings results on Thursday, July 27th. The software maker reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.02. Mitek Systems had a net margin of 5.19% and a return on equity of 10.45%. The company had revenue of $11.80 million for the quarter, compared to analyst estimates of $11.48 million. During the same period in the prior year, the business posted $0.07 earnings per share. The firm’s revenue for the quarter was up 29.7% compared to the same quarter last year. Equities research analysts anticipate that Mitek Systems, Inc. will post $0.29 EPS for the current year.
Several equities research analysts have weighed in on the company. BidaskClub downgraded Mitek Systems from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Zacks Investment Research cut Mitek Systems from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Roth Capital set a $10.00 target price on Mitek Systems and gave the company a “buy” rating in a research report on Saturday, June 10th. Northland Securities restated a “buy” rating and set a $11.00 target price on shares of Mitek Systems in a research report on Tuesday, July 25th. Finally, ValuEngine upgraded Mitek Systems from a “sell” rating to a “hold” rating in a research report on Saturday, June 3rd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $10.67.
In other Mitek Systems news, CFO Russell C. Clark sold 39,400 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $8.25, for a total transaction of $325,050.00. Following the transaction, the chief financial officer now directly owns 88,818 shares in the company, valued at $732,748.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.52% of the company’s stock.
About Mitek Systems
Mitek Systems, Inc develops, markets and sells mobile capture and identity verification software solutions for enterprise customers. The Company’s technology allows users to remotely deposit checks, open accounts, get insurance quotes, pay bills, as well as verify their identity by taking pictures of various documents with their camera-equipped smartphones and tablets instead of using the device keyboard.
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