Stock Traders Purchase High Volume of Put Options on Mitek Systems (NASDAQ:MITK)

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Mitek Systems, Inc. (NASDAQ:MITK) saw some unusual options trading activity on Wednesday. Stock traders bought 1,821 put options on the stock. This represents an increase of approximately 890% compared to the average volume of 184 put options.

In other news, Director William K. Aulet sold 24,928 shares of Mitek Systems stock in a transaction dated Friday, November 20th. The shares were sold at an average price of $12.00, for a total value of $299,136.00. Following the sale, the director now owns 69,601 shares in the company, valued at $835,212. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William K. Aulet sold 5,072 shares of Mitek Systems stock in a transaction dated Monday, November 23rd. The shares were sold at an average price of $12.00, for a total transaction of $60,864.00. Following the completion of the sale, the director now owns 69,601 shares in the company, valued at approximately $835,212. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 364,297 shares of company stock worth $5,205,227. 3.60% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC purchased a new position in Mitek Systems during the third quarter worth about $37,000. Financial Management Professionals Inc. purchased a new stake in shares of Mitek Systems in the 3rd quarter valued at approximately $38,000. Altshuler Shaham Ltd purchased a new stake in shares of Mitek Systems in the 3rd quarter valued at approximately $49,000. State of Tennessee Treasury Department purchased a new stake in shares of Mitek Systems in the 3rd quarter valued at approximately $101,000. Finally, JBF Capital Inc. purchased a new stake in shares of Mitek Systems in the 3rd quarter valued at approximately $134,000. 64.72% of the stock is currently owned by institutional investors.

MITK has been the topic of several research analyst reports. Maxim Group initiated coverage on shares of Mitek Systems in a research report on Friday, January 22nd. They issued a “buy” rating on the stock. Zacks Investment Research lowered shares of Mitek Systems from a “hold” rating to a “sell” rating in a research report on Thursday, November 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $11.00.

MITK traded up $0.46 on Thursday, reaching $15.61. 5,159 shares of the company’s stock were exchanged, compared to its average volume of 970,247. The stock has a market cap of $666.05 million, a PE ratio of 86.00 and a beta of 0.32. Mitek Systems has a twelve month low of $5.26 and a twelve month high of $19.88. The stock’s fifty day moving average price is $17.43 and its 200-day moving average price is $13.62.

Mitek Systems (NASDAQ:MITK) last issued its earnings results on Thursday, January 28th. The software maker reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.06. Mitek Systems had a net margin of 7.71% and a return on equity of 17.19%. The company had revenue of $25.98 million for the quarter, compared to the consensus estimate of $25.26 million. During the same period in the previous year, the firm earned $0.12 earnings per share. Mitek Systems’s quarterly revenue was up 17.7% compared to the same quarter last year. Analysts expect that Mitek Systems will post 0.39 EPS for the current year.

Mitek Systems Company Profile

Mitek Systems, Inc develops, markets, and sells mobile image capture and digital identity verification solutions in the United States, Europe, Latin America, and internationally. The company’s solutions are embedded in native mobile apps and browsers to facilitate online user experiences, fraud detection and reduction, and compliant transactions.

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