Foundry Partners LLC Boosts Holdings in Mitek Systems, Inc. (NASDAQ:MITK)

Foundry Partners LLC raised its holdings in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 44.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 500,610 shares of the software maker’s stock after buying an additional 153,415 shares during the period. Foundry Partners LLC owned about 1.11% of Mitek Systems worth $5,572,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MITK. Avior Wealth Management LLC increased its stake in shares of Mitek Systems by 24.7% in the 4th quarter. Avior Wealth Management LLC now owns 8,595 shares of the software maker’s stock worth $96,000 after purchasing an additional 1,700 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in Mitek Systems during the fourth quarter valued at about $105,000. Y Intercept Hong Kong Ltd purchased a new stake in Mitek Systems in the fourth quarter worth about $114,000. Intech Investment Management LLC bought a new position in shares of Mitek Systems in the third quarter worth about $117,000. Finally, Lazari Capital Management Inc. purchased a new position in shares of Mitek Systems during the 4th quarter valued at about $117,000. 83.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on MITK. StockNews.com lowered shares of Mitek Systems from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 11th. HC Wainwright reissued a “buy” rating and issued a $13.00 price objective on shares of Mitek Systems in a research note on Tuesday, February 11th. Finally, Maxim Group raised their price objective on shares of Mitek Systems from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Mitek Systems has an average rating of “Moderate Buy” and a consensus price target of $12.88.

Mitek Systems Trading Down 4.6 %

MITK stock opened at $7.47 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 4.59 and a quick ratio of 4.59. Mitek Systems, Inc. has a 1-year low of $7.31 and a 1-year high of $16.24. The business has a 50 day simple moving average of $9.41 and a two-hundred day simple moving average of $9.45. The company has a market capitalization of $337.97 million, a price-to-earnings ratio of 83.00 and a beta of 1.08.

Mitek Systems (NASDAQ:MITK) last posted its earnings results on Monday, February 10th. The software maker reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.07). Mitek Systems had a net margin of 2.59% and a return on equity of 16.53%. Research analysts anticipate that Mitek Systems, Inc. will post 0.59 EPS for the current fiscal year.

Insider Activity

In other news, CEO Edward H. West acquired 55,000 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were acquired at an average cost of $9.21 per share, with a total value of $506,550.00. Following the acquisition, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.10% of the company’s stock.

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.