Teton Advisors Inc. raised its position in shares of Mitek Systems, Inc. (NASDAQ:MITK) by 6.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 87,500 shares of the software maker’s stock after acquiring an additional 5,000 shares during the quarter. Teton Advisors Inc.’s holdings in Mitek Systems were worth $870,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BNP Paribas Arbitrage SA grew its holdings in Mitek Systems by 30,452.2% during the first quarter. BNP Paribas Arbitrage SA now owns 7,027 shares of the software maker’s stock valued at $86,000 after purchasing an additional 7,004 shares during the period. Harvest Management LLC grew its holdings in Mitek Systems by 480.0% during the first quarter. Harvest Management LLC now owns 58,000 shares of the software maker’s stock valued at $710,000 after purchasing an additional 48,000 shares during the period. Wedbush Securities Inc. bought a new position in Mitek Systems during the first quarter valued at $122,000. Geode Capital Management LLC grew its holdings in Mitek Systems by 12.7% during the fourth quarter. Geode Capital Management LLC now owns 387,747 shares of the software maker’s stock valued at $4,191,000 after purchasing an additional 43,719 shares during the period. Finally, Independent Advisor Alliance grew its holdings in Mitek Systems by 1.6% during the first quarter. Independent Advisor Alliance now owns 634,420 shares of the software maker’s stock valued at $7,765,000 after purchasing an additional 10,075 shares during the period. 59.10% of the stock is owned by institutional investors and hedge funds.
In other Mitek Systems news, CFO Jeffrey C. Davison sold 13,077 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $9.55, for a total transaction of $124,885.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Stephen Ritter sold 15,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $9.93, for a total value of $148,950.00. The disclosure for this sale can be found here. Company insiders own 8.20% of the company’s stock.
Mitek Systems (NASDAQ:MITK) last posted its earnings results on Thursday, July 25th. The software maker reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. Mitek Systems had a positive return on equity of 6.33% and a negative net margin of 7.61%. The firm had revenue of $21.91 million for the quarter, compared to the consensus estimate of $21.74 million. During the same quarter in the prior year, the business posted $0.06 earnings per share. The business’s quarterly revenue was up 36.0% on a year-over-year basis. On average, analysts anticipate that Mitek Systems, Inc. will post 0.16 earnings per share for the current fiscal year.
Several equities research analysts have issued reports on MITK shares. National Securities restated a “buy” rating and set a $20.00 target price on shares of Mitek Systems in a research report on Thursday, May 2nd. Benchmark restated a “buy” rating and set a $14.00 target price (down previously from $15.00) on shares of Mitek Systems in a research report on Thursday, May 2nd. Roth Capital set a $14.00 target price on Mitek Systems and gave the stock a “buy” rating in a research report on Friday, July 19th. Zacks Investment Research downgraded Mitek Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Finally, BidaskClub upgraded Mitek Systems from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $14.75.
About Mitek Systems
Mitek Systems, Inc develops, markets, and sells mobile image capture and identity verification software solutions in the United States, Europe, Latin America, and internationally. The company's solutions are embedded in native mobile apps and mobile optimized Websites to enhance mobile user experiences, fraud detection and reduction, and compliant transactions.
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