Russell C. Clark Sells 15,349 Shares of Mitek Systems Inc. (MITK) Stock
Mitek Systems Inc. (NASDAQ:MITK) insider Russell C. Clark sold 15,349 shares of the stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $5.41, for a total value of $83,038.09. Following the completion of the transaction, the insider now directly owns 234,533 shares in the company, valued at approximately $1,268,823.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Mitek Systems Inc. (NASDAQ:MITK) opened at 5.90 on Tuesday. The company’s 50-day moving average price is $6.82 and its 200 day moving average price is $7.62. Mitek Systems Inc. has a 52 week low of $3.95 and a 52 week high of $9.49. The company has a market cap of $193.41 million, a P/E ratio of 98.33 and a beta of 2.58.
Mitek Systems (NASDAQ:MITK) last announced its earnings results on Thursday, November 3rd. The company reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.01. Mitek Systems had a return on equity of 13.41% and a net margin of 5.65%. The firm had revenue of $9.67 million for the quarter, compared to the consensus estimate of $9.60 million. During the same period in the previous year, the business earned $0.09 EPS. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. Equities research analysts anticipate that Mitek Systems Inc. will post $0.28 earnings per share for the current fiscal year.
A number of research firms have weighed in on MITK. Benchmark Co. reissued a “buy” rating and issued a $10.00 target price on shares of Mitek Systems in a report on Friday, November 4th. TheStreet downgraded Mitek Systems from a “buy” rating to a “hold” rating in a research note on Thursday, August 18th. Finally, Zacks Investment Research downgraded Mitek Systems from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $9.13.
Hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC purchased a new stake in Mitek Systems during the second quarter valued at $237,000. Palo Capital Inc. purchased a new stake in Mitek Systems during the second quarter valued at $444,000. Prescott Group Capital Management L.L.C. purchased a new stake in Mitek Systems during the second quarter valued at $107,000. Bank of Montreal Can purchased a new stake in Mitek Systems during the second quarter valued at $157,000. Finally, Strs Ohio purchased a new stake in Mitek Systems during the second quarter valued at $453,000. Institutional investors and hedge funds own 47.94% 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 camera-equipped smartphones and tablets instead of using the device keyboard.
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