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

Mitek Systems, Inc. (NASDAQ:MITK) insider Stephen Ritter sold 11,976 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $7.50, for a total transaction of $89,820.00. Following the completion of the sale, the insider now directly owns 215,961 shares of the company’s stock, valued at $1,619,707.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

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

Mitek Systems, Inc. (MITK) traded up $0.25 during trading on Thursday, reaching $7.75. 275,300 shares of the company’s stock traded hands, compared to its average volume of 439,060. The stock has a market cap of $261.77, a PE ratio of 33.70, a price-to-earnings-growth ratio of 6.25 and a beta of 0.46. Mitek Systems, Inc. has a 12 month low of $5.65 and a 12 month high of $10.75.

Mitek Systems (NASDAQ:MITK) last announced its quarterly earnings results on Thursday, January 25th. The software maker reported $0.03 earnings per share for the quarter, topping 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 firm had revenue of $12.14 million during the quarter, compared to analysts’ expectations of $11.57 million. During the same quarter in the prior year, the company earned $0.03 EPS. The company’s revenue was up 31.0% compared to the same quarter last year. analysts anticipate that Mitek Systems, Inc. will post 0.08 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in MITK. Wells Fargo & Company MN lifted its position in shares of Mitek Systems by 99.3% in the 4th quarter. Wells Fargo & Company MN now owns 1,204,123 shares of the software maker’s stock worth $10,777,000 after purchasing an additional 599,961 shares during the period. Independent Advisor Alliance purchased a new stake in shares of Mitek Systems in the 3rd quarter worth approximately $4,185,000. Renaissance Technologies LLC lifted its position in shares of Mitek Systems by 454.7% in the 4th quarter. Renaissance Technologies LLC now owns 425,976 shares of the software maker’s stock worth $3,812,000 after purchasing an additional 349,177 shares during the period. Archon Capital Management LLC lifted its position in shares of Mitek Systems by 46.4% in the 4th quarter. Archon Capital Management LLC now owns 820,736 shares of the software maker’s stock worth $7,346,000 after purchasing an additional 260,041 shares during the period. Finally, Wedge Capital Management L L P NC purchased a new stake in shares of Mitek Systems in the 3rd quarter worth approximately $1,681,000. 43.44% of the stock is owned by hedge funds and other institutional investors.

MITK has been the subject of several research reports. Zacks Investment Research cut shares of Mitek Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. BidaskClub cut shares of Mitek Systems from a “sell” rating to a “strong sell” rating in a research report on Wednesday, December 6th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Mitek Systems has an average rating of “Hold” and a consensus target price of $11.50.

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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.

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

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