Mitek Systems, Inc. (MITK) Insider Sells $111,486.43 in Stock
Mitek Systems, Inc. (NASDAQ:MITK) insider Jason Gray sold 12,211 shares of the business’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $9.13, for a total value of $111,486.43. Following the completion of the sale, the insider now directly owns 75,000 shares in the company, valued at $684,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Mitek Systems, Inc. (NASDAQ:MITK) remained flat at $$9.00 during trading on Tuesday. 327,600 shares of the company’s stock were exchanged, compared to its average volume of 374,089. The company has a market cap of $308.99, a PE ratio of 60.00, a PEG ratio of 4.50 and a beta of 0.69. Mitek Systems, Inc. has a 52-week low of $5.26 and a 52-week high of $10.75.
Mitek Systems (NASDAQ:MITK) last posted its quarterly earnings data on Tuesday, November 7th. The software maker reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The company had revenue of $12.90 million during the quarter, compared to analysts’ expectations of $12.35 million. Mitek Systems had a return on equity of 12.72% and a net margin of 31.05%. Mitek Systems’s revenue for the quarter was up 33.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.07 earnings per share. analysts forecast that Mitek Systems, Inc. will post 0.13 EPS for the current fiscal year.
MITK has been the topic of several analyst reports. BidaskClub cut Mitek Systems from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Roth Capital set a $12.00 price target on Mitek Systems and gave the stock a “buy” rating in a research note on Friday, July 28th. Zacks Investment Research cut Mitek Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. Northland Securities restated a “buy” rating and issued a $11.00 price target on shares of Mitek Systems in a research note on Tuesday, July 25th. Finally, Benchmark Co. boosted their price target on Mitek Systems from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. Mitek Systems currently has a consensus rating of “Buy” and a consensus price target of $10.67.
A number of institutional investors have recently bought and sold shares of MITK. Prudential Financial Inc. purchased a new stake in Mitek Systems during the third quarter valued at $101,000. Chevy Chase Trust Holdings Inc. purchased a new stake in Mitek Systems in the third quarter worth about $102,000. Burt Wealth Advisors purchased a new stake in Mitek Systems in the second quarter worth about $105,000. LLBH Private Wealth Management LLC purchased a new stake in Mitek Systems in the second quarter worth about $109,000. Finally, American International Group Inc. increased its position in Mitek Systems by 7.1% in the first quarter. American International Group Inc. now owns 18,128 shares of the software maker’s stock worth $121,000 after buying an additional 1,197 shares in the last quarter. Institutional investors own 42.40% of the company’s stock.
Mitek Systems Company Profile
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.
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