220 institutions hold shares in Mitek Systems Inc. (MITK), with 1.26M shares held by insiders accounting for 2.94% while institutional investors hold 66.48% of the company’s shares. The shares outstanding are 42.48M, and float is at 41.49M with Short Float at 9.30%. Institutions hold 64.53% of the Float.
The top institutional shareholder in the company is Legal & General Group PLC with over 3.0 million shares valued at $53.26 million. The investor’s holdings represent 6.99% of the MITK Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 2.88 million shares valued at $51.24 million to account for 6.73% of the shares outstanding. The other top investors are Toronado Partners, LLC which holds 2.44 million shares representing 5.69% and valued at over $43.36 million, while Vanguard Group, Inc. (The) holds 5.49% of the shares totaling 2.35 million with a market value of $41.8 million.
Mitek Systems Inc. (NASDAQ: MITK) is -7.14% lower on its value in year-to-date trading and has touched a low of $8.41 and a high of $19.88 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The MITK stock was last observed hovering at around $16.69 in the last trading session, with the day’s loss setting it -0.18% off its average median price target of $21.00 for the next 12 months. It is also 33.96% off the consensus price target high of $25.00 offered by 5 analysts, but current levels are 13.11% higher than the price target low of $19.00 for the same period.
Currently trading at $16.51, the stock is 6.21% and 6.99% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.53 million and changing -1.08% at the moment leaves the stock 17.56% off its SMA200. MITK registered 73.79% gain for a year compared to 6-month gain of 24.42%. The firm has a 50-day simple moving average (SMA 50) of $15.32 and a 200-day simple moving average (SMA200) of $15.09.
The stock witnessed a 15.29% loss in the last 1 month and extending the period to 3 months gives it a -5.50%, and is 2.04% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.19% over the week and 3.71% over the month.
Mitek Systems Inc. (MITK) has around 360 employees, a market worth around $694.91M and $105.20M in sales. Current P/E ratio is 75.73 and Fwd P/E is 19.94. Profit margin for the company is 9.00%. Distance from 52-week low is 96.31% and -16.95% from its 52-week high. The company has generated returns on investments over the last 12 months (5.50%).
Mitek Systems Inc. (MITK) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Mitek Systems Inc. (MITK) is a “Buy”. 5 analysts offering their recommendations for the stock have an average rating of 1.60, where 0 rate it as a Hold and 0 think it is a “Overweight”. 5 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Mitek Systems Inc. is expected to release its quarterly report on 07/29/2021 and quarterly earnings per share for the current quarter are estimated at $0.17 with sales reaching $29.14M over the same period.The EPS is expected to grow by 1.50% this year, but quarterly earnings will post 14.70% year-over-year.
Mitek Systems Inc. (MITK) Insider Activity
A total of 58 insider transactions have happened at Mitek Systems Inc. (MITK) in the last six months, with sales accounting for 30 and purchases happening 28 times. The most recent transaction is an insider sale by Diamond Michael E, the company’s General Manager. SEC filings show that Diamond Michael E sold 43,373 shares of the company’s common stock on Jan 19 at a price of $16.84 per share for a total of $0.73 million. Following the sale, the insider now owns 0.17 million shares.
Mitek Systems Inc. disclosed in a document filed with the SEC on Dec 16 that THOMPSON JANE J. (Director) sold a total of 43,408 shares of the company’s common stock. The trade occurred on Dec 16 and was made at $16.25 per share for $0.71 million. Following the transaction, the insider now directly holds 46773.0 shares of the MITK stock.
Still, SEC filings show that on Dec 16, DAVISON JEFFREY C (Chief Financial Officer) disposed off 30,000 shares at an average price of $16.09 for $0.48 million. The insider now directly holds 134,705 shares of Mitek Systems Inc. (MITK).
Mitek Systems Inc. (MITK): Who are the competitors?
The company’s main competitors (and peers) include Fair Isaac Corporation (FICO) that is trading 49.30% up over the past 12 months. NCR Corporation (NCR) is 107.26% up on the 1-year trading charts. Short interest in the company’s stock has risen 5.39% from the last report on Apr 14, 2021 to stand at a total of 3.86 million short shares sold with a short interest ratio of 7.11.