Mesirow Financial Investment Management Inc. Sells 6,348 Shares of Mitek Systems, Inc. (NASDAQ:MITK)

Mesirow Financial Investment Management Inc. reduced its position in Mitek Systems, Inc. (NASDAQ:MITK) by 23.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,124 shares of the software maker’s stock after selling 6,348 shares during the quarter. Mitek Systems makes up about 1.5% of Mesirow Financial Investment Management Inc.’s investment portfolio, making the stock its 27th largest holding. Mesirow Financial Investment Management Inc.’s holdings in Mitek Systems were worth $298,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. New York State Common Retirement Fund lifted its holdings in shares of Mitek Systems by 60.3% in the fourth quarter. New York State Common Retirement Fund now owns 21,077 shares of the software maker’s stock worth $275,000 after buying an additional 7,929 shares in the last quarter. Aristides Capital LLC raised its stake in Mitek Systems by 46.0% during the fourth quarter. Aristides Capital LLC now owns 23,108 shares of the software maker’s stock valued at $301,000 after purchasing an additional 7,278 shares in the last quarter. Kovack Advisors Inc. purchased a new stake in Mitek Systems during the fourth quarter valued at $492,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Mitek Systems by 424.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 53,549 shares of the software maker’s stock valued at $574,000 after purchasing an additional 43,345 shares in the last quarter. Finally, Raymond James & Associates raised its stake in Mitek Systems by 1.8% during the fourth quarter. Raymond James & Associates now owns 73,243 shares of the software maker’s stock valued at $955,000 after purchasing an additional 1,274 shares in the last quarter. 83.64% of the stock is currently owned by institutional investors.

Mitek Systems Trading Up 1.7 %

Shares of MITK traded up $0.19 during midday trading on Wednesday, hitting $11.36. The stock had a trading volume of 211,637 shares, compared to its average volume of 522,981. Mitek Systems, Inc. has a 1 year low of $9.47 and a 1 year high of $16.24. The firm has a market cap of $531.53 million, a PE ratio of -69.81 and a beta of 1.09. The company has a debt-to-equity ratio of 0.65, a current ratio of 4.27 and a quick ratio of 4.27. The stock’s 50 day moving average is $12.38 and its 200 day moving average is $12.55.

Mitek Systems (NASDAQ:MITK) last announced its earnings results on Monday, May 13th. The software maker reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.04). Mitek Systems had a negative net margin of 4.49% and a positive return on equity of 11.71%. The firm had revenue of $46.97 million during the quarter, compared to analysts’ expectations of $46.49 million. As a group, analysts forecast that Mitek Systems, Inc. will post 0.73 EPS for the current fiscal year.

Insider Activity

In other news, Director Donna Wells sold 16,839 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $12.46, for a total value of $209,813.94. Following the transaction, the director now directly owns 38,552 shares in the company, valued at $480,357.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Mitek Systems news, SVP Christopher H. Briggs sold 24,000 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $11.10, for a total transaction of $266,400.00. Following the transaction, the senior vice president now directly owns 68,673 shares in the company, valued at approximately $762,270.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Donna Wells sold 16,839 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $12.46, for a total transaction of $209,813.94. Following the transaction, the director now owns 38,552 shares in the company, valued at $480,357.92. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on MITK shares. StockNews.com raised shares of Mitek Systems from a “hold” rating to a “buy” rating in a research note on Wednesday. HC Wainwright reaffirmed a “buy” rating and set a $19.00 price target on shares of Mitek Systems in a research note on Tuesday, May 14th. Finally, Craig Hallum upped their price target on shares of Mitek Systems from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th.

Mitek Systems 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.