Archon Capital Management LLC raised its holdings in Mitek Systems, Inc. (NASDAQ:MITK) by 46.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 820,736 shares of the software maker’s stock after buying an additional 260,041 shares during the period. Mitek Systems accounts for about 3.7% of Archon Capital Management LLC’s portfolio, making the stock its 9th largest holding. Archon Capital Management LLC owned about 2.35% of Mitek Systems worth $7,346,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of MITK. Engineers Gate Manager LP bought a new stake in shares of Mitek Systems during the 3rd quarter worth about $296,000. P.A.W. Capital Corp boosted its holdings in Mitek Systems by 40.0% in the 4th quarter. P.A.W. Capital Corp now owns 350,000 shares of the software maker’s stock valued at $3,133,000 after purchasing an additional 100,000 shares during the period. Strs Ohio boosted its holdings in Mitek Systems by 82.6% in the 4th quarter. Strs Ohio now owns 80,000 shares of the software maker’s stock valued at $716,000 after purchasing an additional 36,200 shares during the period. Thrivent Financial For Lutherans bought a new stake in Mitek Systems in the 2nd quarter valued at about $271,000. Finally, Global X Management Co. LLC boosted its holdings in Mitek Systems by 181.0% in the 4th quarter. Global X Management Co. LLC now owns 20,277 shares of the software maker’s stock valued at $181,000 after purchasing an additional 13,062 shares during the period. Hedge funds and other institutional investors own 46.62% of the company’s stock.
In other news, insider Stephen Ritter sold 11,976 shares of Mitek Systems stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $7.50, for a total value of $89,820.00. Following the completion of the transaction, the insider now owns 215,961 shares in the company, valued at $1,619,707.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO James B. Debello sold 28,361 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $8.91, for a total transaction of $252,696.51. Following the completion of the transaction, the chief executive officer now owns 844,726 shares of the company’s stock, valued at $7,526,508.66. The disclosure for this sale can be found here. Corporate insiders own 7.50% of the company’s stock.
MITK has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of Mitek Systems from a “hold” rating to a “sell” rating in a report on Friday, November 24th. BidaskClub upgraded shares of Mitek Systems from a “strong sell” rating to a “sell” rating in a research report on Thursday, January 18th. Finally, National Securities began coverage on shares of Mitek Systems in a research report on Friday, March 9th. They set a “buy” rating and a $14.00 price objective for the company. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $12.00.
Shares of Mitek Systems, Inc. (NASDAQ MITK) traded down $0.20 during midday trading on Wednesday, reaching $8.10. 244,652 shares of the company traded hands, compared to its average volume of 373,528. The company has a market capitalization of $282.71, a price-to-earnings ratio of 22.50, a PEG ratio of 7.13 and a beta of 0.47. Mitek Systems, Inc. has a fifty-two week low of $5.65 and a fifty-two week high of $10.75.
Mitek Systems (NASDAQ:MITK) last released its quarterly earnings data on Thursday, January 25th. The software maker reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $12.14 million for the quarter, compared to analyst estimates of $11.57 million. Mitek Systems had a net margin of 18.57% and a return on equity of 9.45%. The business’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same period last year, the firm earned $0.03 earnings per share. analysts predict that Mitek Systems, Inc. will post 0.08 EPS for the current fiscal year.
Mitek Systems 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.
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