Thompson Davis Lowers stake in Mitek Systems (MITK)

Mitek Systems (MITK) : Thompson Davis reduced its stake in Mitek Systems by 42.52% during the most recent quarter end. The investment management company now holds a total of 100,610 shares of Mitek Systems which is valued at $810,917 after selling 74,420 shares in Mitek Systems , the firm said in a disclosure report filed with the SEC on May 2, 2016.Mitek Systems makes up approximately 1.22% of Thompson Davis’s portfolio.

Mitek Systems opened for trading at $7.95 and hit $8.11 on the upside on Friday, eventually ending the session at $8.06, with a gain of 0.50% or 0.04 points. The heightened volatility saw the trading volume jump to 2,97,377 shares. Company has a market cap of $260 M.

Other Hedge Funds, Including , Ifp Advisors Inc reduced its stake in MITK by selling 1,800 shares or 38.3% in the most recent quarter. The Hedge Fund company now holds 2,900 shares of MITK which is valued at $23,374. Russell Frank Co added MITK to its portfolio by purchasing 841,316 company shares during the most recent quarter which is valued at $6,225,738. Mitek Systems makes up approx 0.01% of Russell Frank Co’s portfolio. Granite Investment Partners added MITK to its portfolio by purchasing 502,290 company shares during the most recent quarter which is valued at $3,716,946. Mitek Systems makes up approx 0.33% of Granite Investment Partners’s portfolio.Burt Wealth Advisors boosted its stake in MITK in the latest quarter, The investment management firm added 9,450 additional shares and now holds a total of 14,650 shares of Mitek Systems which is valued at $108,410. Mitek Systems makes up approx 0.10% of Burt Wealth Advisors’s portfolio. Metlife Securities Inc added MITK to its portfolio by purchasing 9,089 company shares during the most recent quarter which is valued at $55,716.

On the company’s financial health, Mitek Systems reported $0.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.04. The company had revenue of $8.52 million for the quarter, compared to analysts expectations of $7.38 million. The company’s revenue was up 49.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 EPS.

Many Wall Street Analysts have commented on Mitek Systems. Company shares were Reiterated by The Benchmark Company on Mar 23, 2016 to “Buy”, Firm has raised the Price Target to $ 8 from a previous price target of $6.50 .

Mitek Systems Inc. (Mitek) is a provider of mobile solutions. The Company is engaged in the development sale and service of software solutions related to mobile imaging. The Company’s technology allows users to deposit checks pay bills transfer credit card balances open accounts and get insurance quotes by taking pictures of various documents with their camera-equipped smartphones and tablets. IDchecker Inc. a part of the Company offers Strong ID product which provides identity document authentication solutions including passports driver licenses and identity cards across the world and Facelink facial recognition technology which is a multi-factor identity verification enables organizations to confirm the authenticity of an identity document and match it to the person presenting the document during a mobile transaction.

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