Mitek Systems, Inc. (NASDAQ:MITK) was the target of some unusual options trading on Tuesday. Traders acquired 2,167 put options on the stock. This is an increase of 3,636% compared to the typical volume of 58 put options.

Shares of NASDAQ MITK opened at $11.44 on Wednesday. Mitek Systems has a 1-year low of $6.32 and a 1-year high of $11.92. The firm has a market cap of $433.06 million, a P/E ratio of 88.00, a P/E/G ratio of 4.53 and a beta of -0.45.

Mitek Systems (NASDAQ:MITK) last issued its quarterly earnings results on Tuesday, January 29th. The software maker reported $0.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.01. Mitek Systems had a positive return on equity of 4.54% and a negative net margin of 13.40%. The firm had revenue of $17.68 million during the quarter, compared to the consensus estimate of $17.26 million. Analysts anticipate that Mitek Systems will post 0.16 EPS for the current year.

MITK has been the subject of several research analyst reports. Benchmark raised Mitek Systems from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Tuesday, November 27th. BidaskClub downgraded Mitek Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 2nd. Finally, ValuEngine downgraded Mitek Systems from a “strong-buy” rating to a “buy” rating in a report on Monday, February 25th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $13.67.

In other news, CEO James B. Debello sold 29,550 shares of the stock in a transaction that occurred on Thursday, January 3rd. The stock was sold at an average price of $11.12, for a total value of $328,596.00. Following the completion of the sale, the chief executive officer now directly owns 591,911 shares of the company’s stock, valued at $6,582,050.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen Ritter sold 11,377 shares of the stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $11.17, for a total value of $127,081.09. Following the completion of the sale, the insider now directly owns 199,199 shares of the company’s stock, valued at $2,225,052.83. The disclosure for this sale can be found here. 8.20% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its holdings in shares of Mitek Systems by 12.7% during the fourth quarter. Geode Capital Management LLC now owns 387,747 shares of the software maker’s stock worth $4,191,000 after purchasing an additional 43,719 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Mitek Systems by 35.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 465,110 shares of the software maker’s stock worth $5,028,000 after purchasing an additional 122,944 shares during the period. Quad Capital Management Advisors LLC acquired a new stake in shares of Mitek Systems during the fourth quarter worth $2,424,000. Potrero Capital Research LLC acquired a new stake in shares of Mitek Systems during the fourth quarter worth $4,526,000. Finally, Metropolitan Life Insurance Co. NY acquired a new stake in shares of Mitek Systems during the fourth quarter worth $119,000. 46.52% of the stock is owned by hedge funds and other institutional investors.

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Mitek Systems Company Profile

Mitek Systems, Inc develops, markets, and sells mobile image capture and identity verification software solutions in the United States, Europe, Latin America, and internationally. The company's solutions are embedded in native mobile apps and mobile optimized Websites to enhance mobile user experiences, fraud detection and reduction, and compliant transactions.

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