MetLife Investment Management LLC Trims Stock Position in Mitek Systems, Inc. $MITK

MetLife Investment Management LLC lessened its holdings in Mitek Systems, Inc. (NASDAQ:MITK) by 12.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,826 shares of the software maker’s stock after selling 3,227 shares during the period. MetLife Investment Management LLC owned 0.05% of Mitek Systems worth $188,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Mitek Systems by 3.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,600 shares of the software maker’s stock valued at $674,000 after buying an additional 1,803 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Mitek Systems by 1.3% during the first quarter. Bank of New York Mellon Corp now owns 149,803 shares of the software maker’s stock valued at $1,236,000 after buying an additional 1,851 shares during the period. Harbor Capital Advisors Inc. lifted its stake in shares of Mitek Systems by 24.4% during the first quarter. Harbor Capital Advisors Inc. now owns 11,083 shares of the software maker’s stock valued at $91,000 after buying an additional 2,175 shares during the period. Rhumbline Advisers lifted its stake in shares of Mitek Systems by 3.8% during the first quarter. Rhumbline Advisers now owns 65,999 shares of the software maker’s stock valued at $544,000 after buying an additional 2,396 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Mitek Systems by 1,882.5% during the first quarter. GAMMA Investing LLC now owns 3,053 shares of the software maker’s stock valued at $25,000 after buying an additional 2,899 shares during the period. Hedge funds and other institutional investors own 83.64% of the company’s stock.

Mitek Systems Stock Down 0.4%

NASDAQ:MITK opened at $9.94 on Wednesday. The company has a market cap of $453.76 million, a P/E ratio of 30.12 and a beta of 1.06. Mitek Systems, Inc. has a fifty-two week low of $6.93 and a fifty-two week high of $11.78. The firm’s 50 day moving average is $9.74 and its two-hundred day moving average is $9.25.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of Mitek Systems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 9th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Mitek Systems has an average rating of “Buy” and an average target price of $13.50.

Insiders Place Their Bets

In other Mitek Systems news, insider Michael E. Diamond sold 70,352 shares of the stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $9.77, for a total transaction of $687,339.04. Following the transaction, the insider owned 233,340 shares of the company’s stock, valued at $2,279,731.80. This trade represents a 23.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.10% of the stock is currently owned by corporate insiders.

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.