Mitek Systems, Inc. (MITK) Insider Stephen Ritter Sells 11,976 Shares

Mitek Systems, Inc. (NASDAQ:MITK) insider Stephen Ritter sold 11,976 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $7.50, for a total transaction of $89,820.00. Following the transaction, the insider now directly owns 215,961 shares of the company’s stock, valued at $1,619,707.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Stephen Ritter also recently made the following trade(s):

  • On Wednesday, November 22nd, Stephen Ritter sold 10,000 shares of Mitek Systems stock. The stock was sold at an average price of $9.57, for a total transaction of $95,700.00.

Mitek Systems, Inc. (NASDAQ MITK) traded up $0.25 during trading hours on Wednesday, hitting $7.75. 274,815 shares of the company traded hands, compared to its average volume of 452,704. Mitek Systems, Inc. has a twelve month low of $5.57 and a twelve month high of $10.75. The company has a market capitalization of $269.50, a PE ratio of 33.70, a PEG ratio of 6.33 and a beta of 0.46.

Mitek Systems (NASDAQ:MITK) last released its earnings results on Thursday, January 25th. The software maker reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. Mitek Systems had a net margin of 18.57% and a return on equity of 9.45%. The business had revenue of $12.14 million during the quarter, compared to analysts’ expectations of $11.57 million. During the same period last year, the business earned $0.03 earnings per share. The firm’s revenue was up 31.0% on a year-over-year basis. analysts anticipate that Mitek Systems, Inc. will post 0.08 EPS for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the stock. TIAA CREF Investment Management LLC grew its stake in shares of Mitek Systems by 1.3% in the second quarter. TIAA CREF Investment Management LLC now owns 123,759 shares of the software maker’s stock valued at $1,040,000 after buying an additional 1,624 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Mitek Systems by 7.8% in the second quarter. The Manufacturers Life Insurance Company now owns 25,541 shares of the software maker’s stock valued at $214,000 after buying an additional 1,854 shares in the last quarter. Voya Investment Management LLC grew its stake in shares of Mitek Systems by 20.0% in the second quarter. Voya Investment Management LLC now owns 17,451 shares of the software maker’s stock valued at $147,000 after buying an additional 2,906 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Mitek Systems by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 102,100 shares of the software maker’s stock valued at $857,000 after buying an additional 2,982 shares in the last quarter. Finally, Teachers Advisors LLC grew its stake in shares of Mitek Systems by 12.1% in the second quarter. Teachers Advisors LLC now owns 57,628 shares of the software maker’s stock valued at $484,000 after buying an additional 6,240 shares in the last quarter. 43.44% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have recently weighed in on the stock. BidaskClub cut shares of Mitek Systems from a “sell” rating to a “strong sell” rating in a research note on Friday, January 26th. Zacks Investment Research cut shares of Mitek Systems from a “hold” rating to a “sell” rating in a research note on Thursday, December 21st. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $11.50.

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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.

Insider Buying and Selling by Quarter for Mitek Systems (NASDAQ:MITK)

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