272 Capital LP Sells 248,152 Shares of Mitek Systems, Inc. (NASDAQ:MITK)

272 Capital LP reduced its holdings in Mitek Systems, Inc. (NASDAQ:MITK) by 76.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,733 shares of the software maker’s stock after selling 248,152 shares during the quarter. 272 Capital LP owned approximately 0.16% of Mitek Systems worth $678,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Thompson Siegel & Walmsley LLC boosted its stake in Mitek Systems by 259.9% in the second quarter. Thompson Siegel & Walmsley LLC now owns 766,322 shares of the software maker’s stock worth $8,567,000 after purchasing an additional 553,379 shares in the last quarter. Foundry Partners LLC bought a new position in shares of Mitek Systems in the second quarter worth about $3,275,000. EVR Research LP bought a new position in shares of Mitek Systems in the second quarter worth about $2,957,000. Marshall Wace LLP lifted its position in shares of Mitek Systems by 251.1% during the second quarter. Marshall Wace LLP now owns 309,163 shares of the software maker’s stock worth $3,456,000 after purchasing an additional 221,116 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Mitek Systems by 4.1% during the first quarter. Vanguard Group Inc. now owns 3,517,664 shares of the software maker’s stock valued at $49,599,000 after purchasing an additional 138,438 shares during the last quarter. 83.64% of the stock is currently owned by institutional investors.

Mitek Systems Price Performance

Shares of NASDAQ MITK opened at $9.32 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 4.46 and a quick ratio of 4.46. Mitek Systems, Inc. has a twelve month low of $7.35 and a twelve month high of $16.24. The company’s fifty day moving average is $8.91 and its 200-day moving average is $10.26.

Analyst Ratings Changes

Several research analysts have issued reports on MITK shares. Maxim Group reduced their price objective on Mitek Systems from $23.00 to $13.00 and set a “buy” rating on the stock in a report on Monday, August 12th. StockNews.com cut Mitek Systems from a “buy” rating to a “hold” rating in a report on Thursday. Jefferies Financial Group lowered Mitek Systems from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $17.00 to $9.50 in a research report on Wednesday, September 4th. Craig Hallum cut their target price on shares of Mitek Systems from $19.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, HC Wainwright lowered their price target on shares of Mitek Systems from $19.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.13.

Mitek Systems Company 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.