Michael E. Diamond Sells 1,509 Shares of Mitek Systems, Inc. (NASDAQ:MITK) Stock

Mitek Systems, Inc. (NASDAQ:MITK) insider Michael E. Diamond sold 1,509 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $9.27, for a total transaction of $13,988.43. Following the completion of the transaction, the insider now directly owns 172,280 shares of the company’s stock, valued at approximately $1,597,035.60. The trade was a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Mitek Systems Trading Down 1.0 %

NASDAQ:MITK traded down $0.09 during trading hours on Tuesday, reaching $9.14. The company’s stock had a trading volume of 416,266 shares, compared to its average volume of 536,739. The firm has a market capitalization of $422.27 million, a price-to-earnings ratio of -60.93 and a beta of 1.12. The firm has a 50-day simple moving average of $9.00 and a 200-day simple moving average of $10.02. Mitek Systems, Inc. has a 1 year low of $7.35 and a 1 year high of $16.24. The company has a debt-to-equity ratio of 0.68, a quick ratio of 4.46 and a current ratio of 4.46.

Hedge Funds Weigh In On Mitek Systems

Large investors have recently added to or reduced their stakes in the business. Innealta Capital LLC purchased a new position in Mitek Systems in the 2nd quarter worth $32,000. nVerses Capital LLC purchased a new position in Mitek Systems in the 2nd quarter worth $57,000. Avior Wealth Management LLC purchased a new position in shares of Mitek Systems in the third quarter valued at about $60,000. Squarepoint Ops LLC purchased a new position in shares of Mitek Systems in the second quarter valued at about $138,000. Finally, Intech Investment Management LLC purchased a new position in shares of Mitek Systems in the third quarter valued at about $117,000. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Wall Street Analysts Forecast Growth

MITK has been the subject of a number of research analyst reports. StockNews.com raised shares of Mitek Systems from a “hold” rating to a “buy” rating in a report on Friday. Jefferies Financial Group downgraded shares of Mitek Systems from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $17.00 to $9.50 in a report on Wednesday, September 4th. HC Wainwright dropped their price objective on shares of Mitek Systems from $19.00 to $11.00 and set a “buy” rating for the company in a report on Monday, August 12th. Finally, Maxim Group dropped their price objective on shares of Mitek Systems from $23.00 to $13.00 and set a “buy” rating for the company in a report on Monday, August 12th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.13.

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.